State of Retail: The Canadian Report 2010
Highlights
The retail sectorFootnote i plays a key role in bridging production and consumption, and as a result has significant direct and indirect effects on the Canadian economy. While directly contributing $74.2B to Canada's gross domestic product (GDP) in 2009, the retail sector affects other industries as well through its pioneering of innovative practices.
The retail sector's productivity growth and success are spurred by innovation in critical areas, including key performance indicators (KPI) measurement, customer relationship management (CRM), e–commerce, and supply chain mandates.Footnote ii While retail supply chain mandates have directly improved retailers' bottom lines, they have also contributed to business benefits in other industries. Whether through collaborative planning, forecasting and replenishing (CPFR) or sustainability initiatives, the competitiveness of other industries has increased by adopting practices developed within the retail sector.
The ability to access and utilize strategic information and performance indicators in decision making enables retailers to focus on initiatives that deliver a strong return on investment. For this reason, Industry Canada has partnered with the Retail Council of Canada (RCC) to undertake the first Canadian State of Retail report. This unique analysis is intended to help Canadian retail sector executives as well as decision makers enhance their understanding of current market trends, the strategic significance of retail sector innovation and practices that improve business competitiveness across industries.
Footnotes
- Footnote 1
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The retail sector comprises establishments primarily engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise.
- Footnote 2
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Supply chain mandates refer to the system or departments within firms that ensure supply chain participants are aware of and take steps to comply with a clearly defined specification and/or standard.
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