|
Canadian consumers don't plan to change their spending habits this Christmas after a challenging economic year, according to Deloitte's annual holiday survey. Just over half (51%) of survey respondents plan to spend the same amount this holiday season as they have in the past two years. About 44% of respondents plan to spend less than they did last year, however, this result is only 3% higher than last year confirming that there is little change in consumer spending intentions. The major difference for Canadian consumers and retailers this holiday season will be in how and where holiday dollars are spent. Consumers plan to focus less on durable goods and more on experience-based gifts like spa getaways and theatre tickets. Vancouverites are the most likely this year to focus on socializing and entertaining, while residents in Toronto and Montreal plan to focus on home improvements. Just over a quarter (26%) of respondents plan to spend their holiday spending on gifts for others. The majority plan to purchase items for themselves and their families. About 28% plan to spend money socializing and entertaining; 21% plan to spend money on home improvements, possibly because of the 2009 federal home improvement tax credit. Other spending includes non-gift clothing (9%), home holiday furnishing (8%) and charitable donations (8%). The report suggested retailers should expect a wave of shoppers later in December this year as Canadians delay their purchases until there are substantial markdowns. Gift certificates and cards is the top gift for 2009, followed by clothing, food or liquor, books, CDs and DVDs, toys, money, cosmetics and fragrances, computer and video games and jewelry.
|
