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Retail Trade: Carving Out a Niche, and Holding On to It

October 4, 2018
François Dupuis, Vice-President and Chief Economist • Joëlle Noreau, Senior Economist

Life has become particularly complicated for retailers over the past decade. Increased competition, online shopping, fragmented customer bases and employee recruitment are just a few of the challenges they face on a daily basis. Despite these obstacles, retail sales have increased in Quebec in recent years. However, it is not all roses. The economic environment will not be favourable to local retailers forever. Low demographic growth and the convenience of online shopping, to name just a couple of factors, call for a change in how business is done. If they have not already, business owners will have to build their presence online and tap into the digital economy. They will have to work jointly with other merchants, customers, suppliers and employees if the sector is to remain healthy and prosperous.

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