Canadians will spend the same on holiday shopping this year, but are more stressed: survey

A new study found that nearly 60 per cent of Canadians are stressed about holiday shopping.

A new survey says three-quarters of Canadians will spend about the same on holiday shopping this year as they did last year, but nearly 60 per cent are stressed about it, which is a four-year high.

The new numbers from the Retail Council of Canada – Leger Holiday Shopping Survey show Canadians, on average, will spend $975 per person on gifts again this year.

“We’re pleasantly surprised. Obviously, everybody understands the economic situation has changed here across Canada, and with some of the issues we’re having with our neighbours to the south, it has created some economic angst,” Jim Cormier, Atlantic director of the Retail Council of Canada, told CTV News Atlantic.

“So, we are seeing that numbers are about the same as they were last year. We’re still expecting a good holiday season, but you know, every year in this eight-year survey that we’ve been doing, numbers have always gone up. This year numbers are staying the same.”

Atlantic Canadians are slightly below the national average, with each spending about $912 on presents for the holidays.

Cormier says Atlantic Canada used to be the top region in the country for holiday retail sales, but it has fallen to third or fourth – a sign of the economic times.

“Whenever there’s an economic situation in the country, usually Atlantic Canada feels it a lot worse, so we’re seeing Atlantic Canadians, they’re going to be spending less this year,” said Cormier. “It’s only one per cent down, but it’s very telling.”

Cormier says, this year, consumers are making more strategic decisions about who they’re buying for, how much they’re spending, and what exactly they’re buying.

Some of the other key findings in the survey include:

• 73 per cent will maintain or increase their budgets, but are shopping “with precision and focus”
• 85 per cent will wait for sales
• 80 per cent will compare prices online
• 78 per cent will buy more discounted or promotional items
• 47 per cent plan to buy gift cards, up from 42 per cent
• 44 per cent would consider gifting second-hand items

While Canadians plan to spend about the same, it appears their stress levels are up, with 57 per cent saying they’re stressed about holiday shopping this year.

“For the first time we’re not seeing the numbers going up, people aren’t spending more this year,” said Cormier. “Let’s face it, there’s more people worried about the economic situation in the country.”

The survey found support for buying Canadian remains strong, with 86 per cent planning to shop close to home, and 84 per cent seeking Canadian-made products. However, price and value will ultimately drive purchases.

As for retailers, Cormier says they’re preparing for their busiest and most important time of year.

“It’s make-or-break for so many retailers, especially when you get your small-to-mid-sized retailers,” he said. “In the end, we really encourage everyone to get out and support the retailers in your local community.”