Colliers Retail Market Intelligence

Higher average tax refunds in 2024 boosted consumer spending, leading to a 4.0% increase in April retail sales and a 3.5% rise in foot traffic over the year.

Apparel store visits rose by 3.44%, yet sales dropped by 0.9% in value, affected by weaker promotions and less appealing ranges after a March spending spree, underscoring challenges in the unstable clothing market.

Grocery visits and sales dropped by 1.41% and 0.9% due to aggressive pricing that squeezed margins. A 1.65% rise in restaurant visits offered relief and helped curb consumer inflation.

While visits at department stores rose by 5.15%, sales fell 5.3% due to an early Easter and subpar retail offerings.