• Consumer confidence has rebounded as of late and as of April 2021 has increased five times in the last six months.

• The Canadian household savings rate was 12.7% as of Q4 2020, an increase from 2.0% at year-end 2019 and significantly above the long-term average.

• 2020 sales figures exceeded early expectations and saw annual core retail sales grow by 4.4%. This momentum is carrying forward into 2021 with year-to-date sales growth of 8.3% as consumers take part in what is being called revenge shopping.

• Now a full year into the pandemic, the majority of retail categories have posted more modest levels of recovery with only three categories remaining in the red on a rolling 12-month basis, notably Clothing & Accessories, Home Furnishings and Recreation stores.

• Vacancy levels continue to trend upward and increased 110 bps year-over-year to 4.2%. Regional Shopping Centres have fared the worst, a result of operating under reduced capacity or closed for the better part of the year.

• 1.9 million sq. ft. of new supply delivered in H2 2020, a notable pickup from the previous three half-yearly average of 1.2 million sq. ft.