A record-breaking number of international retailers entered the country in 2017. Roughly 50 international merchants set up shop for the first time in Canada last year by opening standalone boutiques or opening small “stores within a store” at larger retailers, according to data from Retail Insider, which has been tracking retail store openings for the past five years. That compares with 21 international retailers that opened in 2016, and 28 in 2015. “This is probably an all-time record for Canada, not just for recent years,” said Retail Insider president Craig Patterson.
Canadians last year purchased more than two million vehicles for the first time thanks to record sales of light trucks.
Ongoing growth could be leading to a banner year for many categories.
“I think we have to be competitive with the U.S. tax situation,” said CEO Larry Rosen in an interview on BNN.