What's in store for retailers. (Canada's retail industry)(Industry Overview)

Real (after-inflation) consumer spending n Canada fell marginally during the 1990-'91 recession but then resumed its climb, although at a much slower pace than in the second half of the 1980s. Gains in real personal disposable income were very sluggish and consumers dipped into savings to support higher levels of spending than their incomes would justify. The savings rate dropped to 7.4% in 1995 from 10.2% in 1992. Consumers also borrowed to finance some of their spending, although they didn't add substantially to their debt loads, which were already at record levels. Consumer and mortgage debt outstanding equalled 93% of personal income last year, compared to 79% in 1990 and …