Big-box retailers account for majority of Canadian retail sales
The retail sector continues to be a strong one in Canada, but the majority of sales are going to the biggest players in the country, a new report from Ryerson University's Center for the Study of Commercial Activity. Approximately 100 retail brands are accounting for 75 percent of non-automotive retail sales and $220 billion revenue.
The Weston Group (parent company of a number of retail brands) was Canada's top retailer, followed by Walmart and Empire company. These three companies alone make up 23 percent of total retail sales in Canada and operate 3,104 locations in the region alone.
"Canada's smaller market size and the dispersed nature of the Canadian urban system means that greater corporate concentration levels in the Canadian retail marketplace are necessary to ensure that we can achieve economies of scale and remain competitive in the global economy," says Christopher Daniel, lead author of the report and a senior GIS analyst with the research center.
For smaller retailers, upgrading their point-of-sale systems may help. Not having a retail POS terminal that can accept a variety of payments may be causing some merchants to needlessly lose sales.
