Retail trade encompasses a broad range of business, including local corner stores, national chains, video rentals, automotive dealers and service stations, and more. Most retail businesses are small and locally owned, but “retail” also includes some of the NWT’s largest companies, such as Walmart and Northern Stores.
Combined with wholesale, trade businesses are a major employer, accounting for about 10 per cent of total employment, or about 2,500 jobs.
Retail currently accounts for five per cent of the NWT’s GDP. It is expected industry growth will be stimulated by new mines and their impact on family income, employment and population growth.
According to the Conference Board of Canada’s forecast, we can expect growth of 25 per cent in retail trade.