$28.5bn
$X.Xbn
89,865
17
$X.Xbn
Despite macroeconomic growth in recent years, revenue for Canadian department stores has declined in response to increased external competition from supercentres and e-commerce sites. Department stores sell a wide range of general merchandise, including apparel, cosmetics, home furnishings, appliances and toys. Supercentres offer similar merchandise, along with groceries. Consumers increasingly opt to shop at supercentres and other mass retailers because of the convenience of a one-stop shop for groceries, clothing and other merchandise. Revenue for department stores is expected to slump at a CAGR of 0.9% to $28.5 billion through the end of 2024, despite a jump of 1.6% in 2024 alone.
Industry revenue has declined at a CAGR of 0.9 % over the past five years, to reach an estimated $28.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Canadian Tire Corporation Limited | 6,771.8 | N/A | N/A |
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Department Stores in Canada
Industry revenue is measured across several distinct product and services lines, including Clothing for adults and children, Furniture and household appliances and Toys and hobby items. Clothing for adults and children is the largest segment of the Department Stores in Canada.
Growing competition for clothing products
The industry retails a broad range of general merchandise in one store, such as apparel, jewellery, cosmetics, home furnishings, general household products, toys, appliances and sporting goods. Discount department stores, which are also included in the industry, retail similar lines of goods at low prices. Big-box retailers and supercentres that offer fresh groceries in their stores and warehouse clubs that operate under membership programs, however, are not included in this industry.
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NAICS 452110 - Department Stores in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Growing competition has caused a slump in sales. Consumers have increasingly used e-commerce platforms to satisfy their shopping needs, reducing foot traffic for department s...
Learn about an industry's products and services, markets and trends in international trade.
Most revenue is generated from clothing, furniture and household appliances. Mounting competition from e-commerce platforms has threatened sales of some products.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Locations largely follow population trends. More populous provinces have increased demand for products, which makes it more attractive for department stores to establish loca...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Brick-and-mortar locations are struggling to compete with online retailers. Companies big and small have been forced to exit the industry or find new ways to compete.
Learn about the performance of the top companies in the industry.
Canadian Tire has a strong position. The brand operates more than 500 retail locations across Canada and has continued to boost revenue through investments in e-commerce and ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The size of the Canadian population is a key driver for department stores. If more consumers are in Canada, more people will potentially shop at a department store.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Physical locations require costly upkeep. Operating brick-and-mortar stores is labour-intensive and being located in a high-traffic area can contribute to higher rent.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Department Stores industry in Canada is $28.5bn in 2024.
There are 17 businesses in the Department Stores industry in Canada, which has declined at a CAGR of 2.2 % between 2019 and 2024.
The market size of the Department Stores industry in Canada has been declining at a CAGR of 0.9 % between 2019 and 2024.
Over the next five years, the Department Stores industry in Canada is expected to grow.
The biggest company operating in the Department Stores market in Canada is Canadian Tire Corporation Limited
Retailing women's wear and Retailing men's wear are part of the Department Stores industry.
The company holding the most market share in Canada is Canadian Tire Corporation Limited.
The level of competition is high and increasing in the Department Stores industry in Canada.