Small Specialty Retail Stores in Canada - Industry Market Research Report

Small Specialty Retail Stores in Canada - Industry Market Research Report

  • July 2018 •
  • 31 pages •
  • Report ID: 4564305
Light it up: Positive economic trends boosted demand for industry products

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 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. 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 as well as hard-to-find specialty items, often with no additional shipping costs. Over the five years to 2023, the industry is poised to decline. Despite rising per capita disposable income and increased retail spending, changing consumer shopping preferences will constrain revenue, as consumers choose to purchase an increasingly large percentage of their goods online. Small specialty retail stores will continue contending with rising competition from department stores and online retailers.

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.
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Country=Canada Date=201807 Topic=Demand Publisher=Ibisworld Price=1000