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State of Retail: The Canadian Report 2010
Background
Canadian retailers need quality information on drivers, future trends and best practices to succeed in the highly competitive globalized marketplace. This strategic information can also be used to identify competitiveness factors, develop benchmarks, justify investment and innovation decisions, and help inform decision makers of current and future retail sector needs. Also, the retail sector's innovative business practices can serve as leading indicators for innovation by non–consumer product goods manufacturing sectors. In this context, the Retail Council of Canada (RCC) partnered with Industry Canada to undertake the first Canadian State of Retail report.
This report provides Canadian retailers and decision makers with insights on the:
- Top business drivers facing retailers;
- Retail sector activities including financial performance measures by trade group;
- Key performance indicators for chain and non–chain stores, analyzed by trade group, for key financial and supply chain agility metrics;
- Innovative practices by retailers, including specific examples of organizational, process, marketing, and service innovation integrated into retailing operations; and
- Knowledge and process management practices by Best–in–Class (BiC)Footnote iii retail firms enabling retailers to benchmark their performance in relation to industry leaders.
Approach and methodology
This report is based on a collaborative undertaking between RCC and Industry Canada's Service Industries and Consumer Products Branch. The RCC research committee defined industry needs, drivers, and metrics and offered valuable insights from an industry perspective. By using information from industry partners and international research organizations, and by applying economic models developed in–house, Industry Canada provided the overall analysis and brought together all the components needed to produce Canada's first State of Retail report.
Industry Canada's analysis draws upon Statistics Canada data from the Census, Labour Force Survey, Annual Retail Trade Survey, Survey on Electronic Commerce and Technology, and GDP tables. For the U.S., Census and Bureau of Economic Analysis data were used.
Footnotes
- Footnote 3
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Best–in–Class (BiC) retail firms are defined as the top 20 percent of North American firms benchmarked to five performance metrics: average comparable store sales improvement, average gross margin improvement, average customer conversion rate increase, and channel in–stock performance.
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