1、Canadian retail market tightens furtherCanadaSpring 2025Retail market dynamicsR 2025 Jones Lang LaSalle IP,Inc.All rights reserved.2025 Jones Lang LaSalle IP,Inc.All rights reserved.Table of contents203040709Key trendsEconomyFundamentalsDemand10111214SupplyRentsDevelopmentsClock16171920Retail SalesH

2、oliday seasonFood servicesTourism retail21222324E-commerceMallsOpeningsOutlook2532Local InsightsContactsThis report is interactive!Click on the topics to go straight to that section.To come back to this page,uselocated in the top right corner of each page.Retail Market Dynamics 2025 Jones Lang LaSal

3、le IP,Inc.All rights reserved.Key trends31Spending recovery bounded by tariff risksRetail sales per capita are expected to rise in 2025 for the first time in several years following stronger holiday sales in 2024.However,risks posed by U.S.tariffs on Canadian goods and retaliatory Canadian tariffs c

4、ould lead to increased inflation,job loss,and economic uncertainty,curbing spending growth.2Tight retail market conditionsThe retail real estate market is further tightening,with a low availability rate of 2.2 percent and increased net absorption.This trend favours landlords but presents challenges

5、for retailers seeking new space,especially in major markets like Vancouver and Toronto.3Construction at record lowsRising asking rents and lower interest rates have not yet spurred a construction surge.The pipeline remains constrained,with most under-construction projects coming from redevelopments

6、in Vancouver and new construction in Calgary.4Food services dominates store openingsFood services followed by apparel and accessories,grocery,and beauty remain the most active sectors for store openings and site searches.Major malls are seeing a similar trend.By the numbers831 millionExisting invent