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Apr 7, 2022 · Operating profit margins for retailers rose modestly, from 4.6% in 2019 to 4.9% in 2020. The cost of goods sold by store retailers decreased by 1.7% to $460.1 billion in 2020. The cost of goods sold represented roughly 73% of total operating revenue. Total operating expenses, including labour remuneration, shrank by 1.3% to $137.5 billion in 2020.
- Key Retail Issues
- Where The Parties Stand
- Advice When Meeting with Candidates
Reduce credit card interchange fees
Canadians pay some of the highest interchange fees in the world. Lowering these fees will make doing business in Canada more affordable and will save Canadians money on their everyday purchases. Approximately 1.4% of Canadian consumer credit card spending goes directly to the big credit card companiesand their issuing banks, drastically reducing a retailer’s profit margin. This is especially true for small business owners who pay a fee each time a customer uses their credit card. This situati...
Reinstate a new Visitor Rebate Program
Canada must stay competitive in the global tourism market. In 2007, the Canadian government became the first member country of the Organization for Economic Co operation and Development (OECD) to cancel its Visitor Rebate Program. Canada – and post-Brexit, the United Kingdom- are now the only OECD countries with federal sales taxes to not provide a rebate to visitors. Since the Government’s decision to move away from the Visitor Rebate Program, many industries dependent on tourism and retaile...
Eliminate tariffs on clothing and textiles
Canadians are paying up to 10% extra on apparel and shoes. Canadians are paying around $5 billion in hidden taxes each year because of tariffs (i.e., customs duties), increasing living costs unnecessarily. Historically, tariffs were used as a method for protecting our domestic industries from out-of-country competition. However, today only 4.4% of textile and clothing products used by Canadians are manufactured domestically. Since these tariffs are remnants of an outdated system that was desi...
Retailers can learn more about the relevant election issues affecting their businesses through the party platforms linked below. The leading political parties’ platforms will be listed in order of the current number of seats held. 1. Liberal Party 2. Conservative Party 3. Bloc Québécois Party(French only) 4. New Democratic Party 5. Green Party
An election is a great time to reach out and meet your local candidates. It’s a great opportunity to share your perspectives, and discuss how the government can help small, mid-sized and large businesses grow and prosper. Given that the retail industry is vital to every community in Canada, RCC needs your help to get the retail industry’s message f...
Feb 25, 2021 · Canadian e-commerce retail sales doubled year-over-year in Q2 2020 with the onset of the COVID pandemic. That has now settled down somewhat to a slightly less spectacular 72.0% year-over-year increase in Q4 2020. Overall, e-commerce represented about 5.9% of Canadian retail sales in 2020, including both pure play as well as bricks & clicks stores.
- Ed Strapagiel
Feb 19, 2021 · Retail sales — Nvt. $49.4 millions. December 2020. 6.2%. (monthly change) Source (s): Table 20-10-0008-01. Retail sales posted their largest decline since the low of April driven by the COVID -1 9 pandemic, decreasing 3.4% to $53.4 billion in December. Sales were down in 9 out of 11 subsectors, representing 83.6% of retail sales.
Dec 21, 2020 · 2020-12-21. This article contributes to a series studies of COVID-19 impact on Canadian industries, with focus on the Retail Services Price Index (RSPI). The study analyzes the movements of RSPI during 2020 pandemic by subsectors, including clothing stores, grocery stores, and electronic stores, etc.
The rate of Canada's retail sector GDP growth was 34 percent faster than the U.S. retail sector and 96 percent greater than the Canadian economy between 2004 and 2008. 5 Retail employment grew 2.4 percent per year from 2002 to 2009 while employing 2.0 million people, or 11.9 percent of the total working population in 2009. 6
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Jan 10, 2024 · A changed retail landscape Right off the bat, one of the key changes caused by the virus was an overall decline in sales: over the past decade, Canadian retail trade figures had been growing ...
