Strong Growth In Home Improvement Sales Continues


In October, Canadian retailers saw continued growth on spending in home improvement materials and upgrades around the house, says Statistics Canada. Hardware, tools, and renovation and lawn and garden products continued to show strong growth (+27.7 per cent), marking the sixth consecutive month of year-over-year gains for the product category. Sales of lumber and other renovation materials and supplies (+28.4 per cent) led the category, sustained by continued demand into October. Sales of major home appliances increased 43.3 per cent to $750 million in October, marking a record high for the product category. Sales of small home appliances (+22.1 per cent) were also up in the month. Retail sales overall totalled $56.7 billion in October, up 8.2 per cent from the same month a year earlier. Higher sales were reported in 13 of the 19 commodity categories.