Concerned about financial matters, many Canadians will be on the lookout for sales and discounts for their holiday purchases this year, according to a new Leger survey conducted on behalf of the Retail Council of Canada.
As part of the online survey of 2,500 people across the country about holiday shopping, about half of respondents (49%) said they were concerned about the cost of living, rising prices and of inflation. The latter has affected the gift-giving habits of nearly 7 in 10 Canadians (69%), the report reveals.
Thus, 88% of people surveyed said they were going to adopt tactics to limit their spending this year, compared to 83% last year.
Among the measures employed, 52% of Canadians indicated that they would hunt for sales, while 41% of respondents intend to shop in advance. Four out of ten consumers plan to set a budget to respect for this period.
For their holiday shopping, 63% of people surveyed say they will be looking for more discounts and sales compared to previous years.
Consumers “determined to make purchases”
However, consumers across the country plan to spend an average of $898 for the holidays, while “their spending was just under $782” last year, we can read in the report. Canadians intend to spend 80% of their budget on purchasing gifts to give.
These results show that “consumers are determined to shop and celebrate during the holidays” despite their financial concerns, says Michel Rochette, president of the Retail Council of Canada for the Quebec section.
However, Quebecers plan to spend less than the Canadian average, an amount of $663. “They are more likely to buy gifts for themselves this upcoming holiday (25% compared to the national average of 20%). They are more influenced by the durability of the products as well as the speed of shipping,” indicates the document of around a hundred pages.
This year, consumers plan to spend 62% of their holiday budget in-store and 38% online. However, they plan to make 71% of travel-related purchases on the Internet.
According to the survey, 82% of Canadians believe it is important to encourage local shopping during the holidays, while this proportion rose to 74% last year.