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TD Bank economist Maria Solovieva said the holiday shopping season got off to a flat start. 

"Despite November's rebound, the underlying trend in real sales remains negative," Solovieva said.

"Only a handful of discretionary categories – clothing and electronics – continue to show positive momentum. This lines up with our TD credit and debit card data, which show relatively resilient services spending growth outpacing goods."

For October, Statistics Canada said sales were down in four of the nine subsectors it tracks with sales at food and beverage retailers down two per cent as beer, wine and liquor retailers fell 10.6 per cent.

It said the drop at beer, wine and liquor retailers coincided with labour disruptions in B.C., while sales at supermarkets and other grocery retailers dropped 0.7 per cent.

Sales at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers also fell 0.7 per cent. Health and personal care retailers declined 0.3 per cent.

Furniture, home furnishings, electronics and appliances retailers gained 1.1 per cent.

Sales at motor vehicle and parts dealers rose 0.6 per cent as sales at new car dealers gained 0.5 per cent.

Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, fell 0.5 per cent in October.

In volume terms, retail sales dropped 0.6 per cent in October.

This report by ºÃÉ«tvwas first published Dec. 19, 2025.