Retail trade annual review, 2014
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Released: 2015-08-04
Retail sales grew 4.6% in 2014, the highest annual growth rate since 2010. Higher sales were reported in every subsector and province.
Total retail sales volumes rose 3.5%, also the highest growth rate posted since 2010.
Chart 1
Current and constant dollar retail sales
The main contributor to the gain in 2014 was the motor vehicle and parts subsector, as a record number of passenger cars and trucks were sold. For the first time since 2007, new and used motor vehicles (17.5%) accounted for a higher share of retail sales than food (17.4%).
Monthly sales slowed in the fourth quarter at gasoline stations, following the depreciation of crude oil. Sales of automotive fuels, oils and additives accounted for 10.4% of total retail sales in the fourth quarter, the lowest level since 2010.
Sales rose in the general merchandise stores subsector in 2014. General merchandise stores continued to increase their market share of food and beverage sales, while their share of clothing, footwear and accessories sales declined.
Sales at electronic and appliance stores (+1.3%) rose for the first time since 2011. Higher sales of household appliances (+10.8%) were the major contributor.
Products
The analytical article "Retail: The Year 2014 in Review," which is part of Analysis in Brief (11-621-M), is now available from the Browse by key resource module of our website under Publications.
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