Canadians To Spend Less Money On Holiday Shopping: Poll
Date
10/4/2023 10:10:51 AM
(MENAFN- Baystreet)
Canadians To Spend Less Money On Holiday Shopping: Poll
Canadian consumers are planning to spend less money on holiday shopping this year, according to the findings of a new poll.
The survey by Ignite Labs found that the average Canadian family plans to spend $570 on holiday gifts this year, down 5% from $600 in 2022.
The survey also found that Canadians plan to hunt for deals and shop earlier to try and save money on the gifts they purchase.
Among poll respondents, 63% said they plan to shop on Black Friday, while 50% plan to look for deals on Cyber Monday. A total of 46% of Canadians plans to shop on Boxing Day this year.
The survey also found a shift in what people want to receive in terms of gifts, with more than 60% of respondents wanting practical gifts and only 26% looking for luxury items.
The survey comes as Canadians struggle with inflation. A separate survey from the National Payroll Institute found that 37% of Canadians are financially stressed right now due to high consumer prices and interest rates.
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