Here’s how much Canadian holiday shoppers are spending this year
By: Dominic Licorish on December 21, 2016
With less than a week until Christmas, the holiday shopping rush is heading into the home stretch. So we asked five shoppers in one of Canada’s busiest malls — Toronto’s Eaton Centre — about their holiday spending and how they make the most of their gift budgets (or lack thereof).
Most of our holiday shoppers were fairly conservative with their spending, with only one planning to drop more than $1,000. However, we know Canadians don’t let cold weather, slow economies, or high debt levels get them down when it comes to the gift of giving. Last year, Canadians planned on spending an average of $671 on gifts, according to a survey by RetailMeNot.ca. This year, higher consumer confidence would suggest more willingness to spend, especially when the sales just keep coming and your favourite cousin has made the trip from Ohio for their first visit in years, and all of a sudden there are twice as many babies in the family, and your mom keeps posting statuses about Tassimos.
I digress.
With so much pressure to buy, it’s not uncommon to rack up a hefty credit card bill by the time New Year’s rolls around, and that’s okay, because managing your debt is always possible when you know what you’re doing.
So without further ado, here’s how five Canadian shoppers are allotting their holiday dollars. Feel free to share your own #HolidayHaul with us on Twitter by snapping a pic and mentioning @Lowestrates_ca.
Names: Dana and Marilyn
Ages: 27 and “almost 60”
How much money do you plan to spend on gifts this year?
D: Umm...
M: No idea, but definitely more than $1000
How much have you spent so far?
D: $100
M: $1000, and we’ve only been to one store
Debit or credit?
D: Credit
M: Credit
What was the most expensive gift you bought?
Several J. Crew purses. $160 each
Are you going to go shopping for boxing week?
D: No
M: Nope. After this, we are DONE!
Can you share any tips for making the most of your holiday shopping?
D: Use my credit card for the points
M: Don’t think! Just put your head down, buy your stuff and get out of there
Ages: 19 and 19
How much money do you plan to spend on gifts this year?
R: $100
G: $550
How much have you spent so far?
R: $100
G: $400
Debit or credit?
R: Debit
G: Debit
What was the most expensive gift you bought?
R: I got a book for $35
G: $60
Are you going to go shopping for boxing week?
R: Not sure yet
G: Definitely!
Can you share any tips for making the most of your holiday shopping?
R: Go early! Get it out of the way to avoid large crowds
G: Pretend you're rich so you don't feel stressed
Name: Andrew
Age: 23
How much money do you plan to spend on gifts this year?
$250
How much have you spent so far?
Technically $0… I always wait till last minute.
Technically?
I got a little something from Roots for myself — $60
Debit or credit?
Credit
Are you going to go shopping for boxing week?
Yeah
Can you share any tips for making the most of your holiday shopping?
Go with a friend
Name: Scott
Age: 23
How much money do you plan to spend on gifts this year?
$125
How much have you spent so far?
$100
Debit or credit?
Debit
What was the most expensive gift you bought?
A charm from Pandora
Are you going to go shopping for boxing week?
Nope
Can you share any tips for making the most of your holiday shopping?
Do it early!
