Saskatoon Retail Q4 2022 MarketBeat Report Summary

Through 2022 Saskatchewan enjoyed significant gains in commodity pricing with both wheat and uranium increasing 30% year over year (September 2021 – September 2022), while the price of potash increased by a staggering 167% through the same period. The surge in commodities has had a direct impact on Saskatoon’s retail sector with retail sales growth topping 10.0% in 2022 and unemployment reaching a low of 4.0%. Although forecast projections for many Canadian metropolitan centres are bearish, the fundamental economic drivers of Saskatchewan/Saskatoon remain promising with little indication of slowing in 2023 and beyond.