Canada Retail National Report

In 2026, headwinds from subdued population growth, rising geopolitical tensions and trade risks will keep leasing momentum at a cautious pace. Retailers will become increasingly selective, prioritizing productivity over footprint growth. Alongside the gradual backfilling of large-format space, vacancy is expected to edge higher, even as the pace of inventory expansion slows. 

• Analysis of sector and macroeconomic trends affecting supply and demand in Canada’s retail sector
• Backfilling progress in former Hudson’s Bay space and major market overview
• Outlook of Canada’s retail investment and capital markets landscape