Opening up: While growth in discretionary spending has boosted industry revenue, external competition has been acceleratingAbstractSmall Specialty Retail Stores in Canada
The Small Specialty Retail Stores industry in Canada has seen revenue growth in line with rising consumer confidence and increasing per capita disposable income over the past five years. However, although positive economic trends have boosted demand for some industry products, external competition from department stores and online retailers has limited industry growth. While an increase in discretionary spending has powered industry performance, threats from external competitors have been accelerating. Many mass merchandisers have been adding specialty items and can offer lower-priced goods due to their economies of scale. In the five years to 2022, the industry is poised to decline. Despite rising per capita disposable income and increased retail spending, changing consumer shopping preferences will further constrain revenue, as consumers choose to purchase an increasingly large percentage of their goods online.
This industry retails specialized lines of goods, such as art supplies, cigarettes and cigars, paper goods, collectors’ items, fireworks, religious merchandise, trophies and beer and wine-making supplies. This industry also includes general merchandise auction houses, but it excludes mass merchandisers, department stores, warehouse clubs and supercentres.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.