Comment 71006

By Cinder Claws (anonymous) | Posted November 02, 2011 at 14:41:52

On an annual basis, Colliers’ forecast, which is generated using a trend-based model comparing recent activity with historical patterns, pictures an even gloomier prediction. Total retail sales (excluding Automotive) for 2011 is expected to slightly surpass $297 billion, a marginal one per cent year-over-year increase from $294.3 billion.

“With inflation taken into account, Canadian retailers are actually expected to see a slight drop in annual sales compared to the previous year according to our forecast,” says Drew Keddy, Vice President of Canada and National Retail Leader with Colliers International. “Fears of another global recession and a strong loonie are only two of the reasons shoppers are more cautious about their spending and conscious about where they spend their dollars, often looking for bargains south of the border.”

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