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The retail industry is thriving in Saskatchewan, but an Edwards School of Business professor cautions that the good times might not last.

According to Statistics Canada, retail sales in Saskatchewan have grown by more than 65 per cent from 2006 to 2016. That’s the highest growth rate of any province or territory in the country.

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David Williams with the Edwards School of Business said it appears retail space in the city has been overbuilt, and there are changes occurring in the market thanks to the emergence of online stores.

“There used to be a phrase in retail ‘if you build it, they will come,'” Williams said, noting that there has been a “phenomenal increase” in retail space in the city during the past decade.

“Is there too much physical retail space in town? Yes.”

A slumping economy has not slowed down business development in Saskatoon. New stores in new buildings have been popping up around the city including large businesses like Costco on the eastern edge of the city and GoodLife Fitness and Bed Bath & Beyond planned for Preston Crossing, which also boasts new food stops such as Starbucks and FatBurger which just opened.