Small Specialty Retail Stores in Canada - Industry Market Research Report

Small Specialty Retail Stores in Canada - Industry Market Research Report

  • February 2022 •
  • 35 pages •
  • Report ID: 4564305 •
  • Format: PDF
Special order: Operators will contend with rising competition from department stores and online retailers

Abstract

Small Specialty Retail Stores in Canada

The Small Specialty Retail Stores industry in Canada, which relies on discretionary purchases of products such as tobacco, art supplies, candles and trophies, has experienced revenue growth in line with rising consumer confidence and increasing per capita disposable income over the five years to 2019. However, although positive economic trends have boosted demand for some industry products, external competition from department stores and online retailers has limited industry growth. Many mass merchandisers have been adding specialty items and can offer lower-priced goods due to their economies of scale. Online retailers also carry discounted substitutes for industry products and hard-to-find specialty items, often with no additional shipping costs. Consequently, industry operators have been pressured to lower product prices during the five-year period. Over the five years to 2024, the industry is poised to grow, albeit at a slower pace than the previous period.

The Small Specialty Retail Stores industry in Canada 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.
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