(Image Source: Alex Filipe/Reuters)
According to an analysis done by Bloomberg and SafeGraph, foot traffic at clothing retail stores in Canada have increased by 44% in June, as compared to the same time in 2019. With most restrictions lifted by June, it appears that Canadian shoppers are eager to return to in-store shopping.
This is great news as the retail sector was hit hard during the third wave of COVID-19 lockdowns implemented by the authorities. Based on data from Statistics Canada, retail sales fell by 5.7% in April and followed by 3.2% in May after strict measures were introduced to slow down the number of COVID-19 infections in Canada.