Here's How Much You'll Probably Spend on Holiday Shopping This Year
The holidays are coming up quickly, and whether you’re one of those people who gets all of their shopping done immediately or one who leaves it all until the last possible minute, a new report has revealed how much shoppers are likely to spend in Mississauga and beyond!
According to PwC Canada’s 2017 Holiday Outlook, Canadians will spend an average of $1,507 this holiday season - and for 80 per cent of us, that’s about the same or more than we spent last year.
Where is your money going, you ask?
Well, according to PwC Canada, the majority of your spending will go towards travel and gifts, and whatever’s left will go towards entertainment.
Perhaps it’s all of those holiday markets you’re planning on visiting…
Regardless, it feels good to give, and often to shop (especially during the festive holiday season) so hopefully, you won’t have any spending regrets.
“Canadians are optimistic about the positive economic outlook and are confident about their spending habits. We can expect the biggest spending increase to come from Generation Z and millennial parents,” says Sonia Boisvert, partner and national retail and consumer leader at PwC Canada.
Convenience and price seem to be the biggest contributors to deciding to purchase a gift. In fact, PwC Canada found that for 62 per cent of Canadians, price is the main factor, followed by promotions and deals at 37 per cent and free shipping at 37 per cent.
Brick and mortar stores win in terms of where most Canadians plan to do their shopping - 62 per cent of Canadians say they’ll do their shopping in-store, while the remainder prefer online shopping this holiday season (most of those online shoppers will use Amazon - 77 per cent!).
If you are shopping online, it’s not uncommon to expect delivery within three to five business days. In fact, 49 per cent of Canadians expect that much of their online purchase.
Local retailers are all the rage this season, with 58 per cent of Canadians likely to shop with independent or local retailers this holiday season.
And will Canadians try to save every dollar possible?
Yes, indeed - the report says that that almost half of Canadians (48 per cent) will complete their holiday shopping after Black Friday, taking advantage of the sales and promotions.
As for how you decide what to purchase, 47 per cent of Canadians say Facebook is the most influential platform. What’s more, marketing principles work - Canadians are more likely to make a purchase if a product is promoted by a social media influencer, who taps into their core values, rather than undertaking an activity that’s viewed as sponsored by a brand or corporation.
Though holiday shopping is different for everyone, you might be wise to remember that, at the end of the day, it’s all about the giving.
Use your $1,507 wisely, Mississauga!