Home Projects Boost Sales

Retail sales reached $55.4 billion in November, an increase of 4.2 per cent compared with the same month a year prior, says Statistics Canada. This was the sixth consecutive year-over-year increase in sales for the sector. Higher sales were reported in 11 of the 19 commodity categories. Consumers continued to spend on tools and projects around the house in November, with hardware, tools, and renovation and lawn and garden products increasing 24.7 per cent from the same month a year prior. Growth in the product category was driven primarily by increasing sales in renovation materials and supplies (25.1 per cent). The largest contributor to the growth of this category was lumber and other renovation materials and supplies (44 per cent). The largest gains came from discretionary spending in the month of November. A prolonged Black Friday and Christmas spending season led to record sales of home furniture, furnishings, housewares, appliances and electronics, an increase of 18.8 per cent from the same month a year prior. Increasing sales were seen in all six of the products within the category, with the largest gains coming from home appliances (34.6 per cent), home furnishings (26 per cent) and home electronics (14.7 per cent).