American retail sales grew an impressive 4% during the 2010 holiday season, according to a report released Monday by Chicago-based ShopperTrak.
If that growth spills over the border, it will be good news for B.C. retailers expecting about 2% or 3% growth this holiday season, according to Shelfspace: The Association of Retail Entrepreneurs CEO Mark Startup.
Startup told Business in Vancouver in December the lingering economic downturn has forced retailers to scale down growth expectations from the pre-recession 5%-or-so average.
On December 21, Statistics Canada released retail numbers that pinned sales growth in B.C. at 2.1% in October compared with the previous October. Canada-wide, retail sales grew 3.3% in October compared with the same month in 2009. (See “B.C. retail sales growing slower than other provinces” – BIV Business Today, December 22.)
Best Buy Canada had a good holiday season, however, according to its communications director Christopher Bennett.
“The month of December was healthy for us. Canada-wide, on Boxing Day, we had more than 50 stores that did over $1 million in sales,” Bennett told BIV.