Colliers Retail Market Intelligence
The retail industry continues to expand as June foot traffic increased by 1.7%, and sales grew by 0.2% over May.
Grocery visits declined by 1.5% in June while spending increased by a very modest 1.3%, largely thanks to the heat coming out of inflation and price competition between players intensifying.
Despite a decrease in total restaurant visits, food service sales increased by 9.9% this month thanks to higher average spending per customer and a shift towards more profitable takeout and delivery services.
Apparel store visits remain subdued as consumers are more receptive to discounts and promotions, which drove sales at clothing stores to increase by 1.3% in June.