The retail sector is a driving force and lead indicator about the state of Canada's economy.
Below we present 10 Fun Facts about retailing - why you should study it and how it impacts all Canadians.
Females, who make up two thirds of all mall shoppers, spent nearly 10 more minutes in the mall per visit than men.
For every 10 individuals directly employed at a shopping center, an additional 2 to 3 jobs are created and supported in the community due to multiplier effect.
About half of all sales at malls take place in apparel stores.
In 1998, about 70% of retail organizations were new entrants to the market.
Food and motor vehicles account for a one-third of retail spending in Canada.
Despite the economic slowdown in 2009, the retail sector continues to grow and expand.
China has become a target market for organizations across the retail industry.
Retail industry intuitively follows not only all current trends in society but also megatrends such as a rise of lone-parent families, birthrate decline, immigration and aging population.
In 2012, more than $358 million raised by top retailers using charity checkout campaigns in the U.S.
It is expected that eCommerce growth will dramatically outpace bricks-and-mortar stores sales growth by five times (15%).