Canadians expected to spend more this Christmas: poll
Posted December 1, 2015 9:45 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – Canadians are planning to make it a happy holiday season.
We are expected to spend 26 per cent more than we did last year at this time, according to a new CIBC poll, with a predicted $650 per person.
Fewer than 40 per cent of us describe ourselves as disciplined spenders, sticking to the budget. More than half admit we’re likely to go over budget or make some impulse buys.
That’s good news for local businesses, says Anita Huberman with the Surrey Board of Trade.
“The retail community is seeing more and more shoppers shopping locally, especially with dollar the way that it is. It’s not great if you’re planning a trip in the US but it’s great for local sales.”
She points out many businesses rely heavily on this shopping season.
“It’s very significant. Their whole timeline, in terms of success for their fiscal year, is really reliant on the holiday season. There are other segments throughout the year, but this is a significant time for them to make their money.”
Those over the age of 55 are expected to spend the most, followed by those between 35 and 55 who average more than $700.
