Bill 152, Consumer Protection and Service Modernization Act, 2006
December 4, 2006
Profile of the Retail Industry
National Overview:
The retail industry is one of the most competitive and vibrant sectors of the economy. Nationally, it generated close to $370 billion in sales in 2005, an increase of 6.1 per cent over the previous year.
Retailers offer consumers an enormous range of products from around the world, sold through many types of retail formats. In supplying the products Canadians need and want, retailers establish and maintain close links with their communities. They have a unique insight into Canadians' mindsets through their shopping patterns and thus insight into the economic health of our country.
Ontario Overview:
The retail sector is a vital part of Ontario's economy. In 2005, it achieved more than $135 billion in sales, an increase of 4.7 per cent over the previous year.
There are more than 227,200 retail establishments in Canada. More than 85,600 of these retail establishments are in Ontario.
The retail sector reaches every corner of the province. When considering businesses with a payroll and a fixed address (the key criteria Statistics Canada uses to classify a business establishment), the retail industry has the largest number of business establishments in Ontario.
When including indeterminate businesses such as sole proprietorships and partnerships, retail is still Ontario's third largest industry.
Retail is Ontario's second largest employer. Retail employment represents 11.4 per cent of the province's total labour force, directly employing more than 780,000 Ontarians.
The contributions made by this economic sector are felt in every corner of the province and affect the lives of all residents.