Canadians say they plan to spend more money during the holiday season this year.
Two new surveys found that Canadians will spend more during the 2021 holiday season as the pandemic subsides in some regions of the country and most provincial economies remain open.
According to the Retail Council of Canada's Holiday Shopping Survey, Canadians’ plan on spending an average of $792 on holiday shopping this year, up from $693 in 2020.
The online survey of 2,505 Canadians found that most are increasing their Christmas spending this year because they anticipate a more normal holiday season this December.
The Retail Council of Canada survey also found that Canadians will be spending more this year on vacations and food and alcohol over the holiday season, while spending less on books and music, sports equipment, and home electronics than in 2020.
Another survey, PwC's Canadian Holiday Outlook, also found that Canadians plan on increasing their holiday spending by 29% this year compared to 2020. On average, Canadians expect to spend $1,402 on Christmas this year, including gifts, travel and entertainment.
While Canadians are expected to spend more this year, there are lingering concerns among retailers about meeting the increase in demand as they continue to wrestle with supply chain constraints.
Retailers have been warning consumers about potential shortages for several weeks now as global supply chain issues continue to disrupt the flow of goods across Canada.
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