IT'S ONLY EARLY OCTOBER BUT HOLIDAY SEASON SPENDING SURVEYS ARE SPROUTING

Oct 03, 2018

By Michael Kramer

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A new survey finds Canadians on average plan to spend 3.7 per cent more this holiday season – than they did last year.

Consulting firm P-w-C says its survey of more than one-thousand consumers shows Canadians are ready to shop – despite recent trade uncertainty and climbing debt levels.

Eight out of 10 respondents said they plan to spend the same or more this year – while on average, consumers will spend around $1,563 – up from $1,507 last holiday season.

The report also finds that travel continues to make up the largest part of holiday spending at 46 per cent – followed by presents at 41 per cent – and entertainment at 13 per cent.

Meanwhile – the biggest retail trade group in the U.S. says it expects sales in November and December to go up between 4.3 per cent and 4.8 per cent.

That’s a forecast drop from the National Retail Federation survey – from last year’s 5.3 per cent – which was the biggest gain since right after the end of the Great Recession.

Experts say the new figure is still very healthy.

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