The Post-Lockdown Consumer

According to a recent BCG survey, 19% of Canadians said that their spending will not return to prepandemic levels for at least a year. BCG’s Cliff Grevler explains to The Globe and Mail that Canadians entered the current crisis with higher household debt than at the beginning of the 2008 recession. “It is therefore hard to see a quick recovery like we had during the last recession that is led by the Canadian consumer,” he says.