“It has been a strong year for BC’s retail sector, but a year with unforeseen fluctuation with extreme growth as well as significant slowdown” says Kristina Egyed, Director of Retail BC and Owner of LaLa’s in Deep Cove, when contemplating 2008.

It has indeed been a year of opportunity and challenge for BC’s retailers; however, as an industry, retailers are entrepreneurs committed to their business and constantly looking for ways to better themselves. As an independent business owner, Egyed notes, “retail is still one of the more viable economic sectors in BC’s economy today.”

The retail sector has seen a minor drop year over year in the month of September and a slight increase in November. Some Retail BC members are experiencing record-breaking retail sales, while others are feeling the effects of the financial market meltdown. “This season has required extra attention and due diligence, from the top down. Owners, managers and CEOs have needed to stay very present if they are looking to succeed” says Egyed.

Dai Manuel, Retail BC Director and Chief Operating Officer for Fitness Town Inc. says ”We had a record year first three quarters with unforeseen growth. Our buying power was high with the Canadian and US dollar on par, and consumers were buying.” His perspective now has changed slightly, qualifying that “things are still good, but there has been a significant market shift that retailers are obviously not immune from.”

Both Egyed and Manuel are cautious about the coming year and will be making purchasing decisions accordingly. “We’re paying attention to what we’re buying, and we need to be astute” divulged Manuel, “But I’m still optimistic about what January sales will bring”.

Retail BC is the voice of over 3,000 retail companies within British Columbia. BC’s retail industry generates over $56 billion in sales and employs over 280,000 British Columbians.