Why It's Important Retail sales constitute a significant proportion of GDP and are used as a measure of economic performance. Retail trade is one of BC's largest sources of employment. In 2008, 266,800 people were employed in BC's retail trade.

Performance Indicator Four measures sales at retail outlets. Direct sales which bypass the retail store such as vending machine sales and door-to-door printed materials sold directly by a publisher are excluded; sales taxes and non-operating revenue are also excluded.

Real per capita retail sales were $9,827 in Vancouver and $13,596 in Victoria, Abbotsford, Kelowna and Regional BC combined in 2008.

Although sales in Vancouver were $279 higher in 2008 than ten years earlier, they were down $525 from last year. This 5.1 percent single year drop is the largest on record back to 1991.

Sales fell by half as much in areas outside of Metro Vancouver. However, real per capita sales were 40 percent, or $3,800 higher in 2008 than they were in 1999. One year decreases larger than the one in 2008 occurred in 1998 and 1992.

Declining retail sales in Regional BC removed about half the 2007 growth but left sales well above the ten year average.

In contrast, the 2008 drop in Vancouver wiped out all the 2006 and 2007 growth and left sales below the ten year average.