By Tyler Marr

Canadians won’t overspend this holiday season: survey

Dec 11, 2018 | 4:00 PM

How much do you anticipate spending on gifts this holiday season?

According to a national survey conducted for the Chartered Professional Accountants of Canada, on average, Canadians will spend $643 on gifts this holiday season.

A majority of those who participated, 84 per cent, plan to spend less than $1,000 on gifts, with five per cent planning on spending nothing, while 13 per cent plan to spend well over $1,000 this season. 

In the Battlefords, shoppers were split on how much they plan to spend.

“Not even in the ballpark … a lot lower,” shopper Harvey said, noting he is a pensioner.

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But for Christine Vangool, with six people in her family, “it could be around [$643] actually.”

Sonya Hilsendager, however, said with a laugh that she has “already exceed that.”

Both Vangool and Hilsendager are store owners and said sales have been mixed this holiday season.

“Many people are just getting started with a lot of their shopping and [what I sell] is a lot of last-minute stuff,” Vangool, the owner of InAScent said. “Every week it picks up.”

Hilsendager, who owns Learning Adventure Toys & Games, said sales have been “pretty good” but said; “there are other variables affecting us; one of them being the economy and maybe online shopping.”

“But I am not complaining as I still have my regular customers who come in,” she added.

On other holiday spending, the survey showed 64 per cent said they plan to spend less than $200 on travel — including 20 per cent who won’t be spending a dime. Around 76 per cent said they will spend under $400 on entertainment, while 41 per cent plan to spend more and 5 were unsure.

Of those surveyed, 64 per cent said they do not save throughout the year for holiday gifts, though the bulk, 67 per cent, won’t be overspending. Of those, 69 per cent said if they do overspend it will be for their children or significant others. 

Doretta Thompson, the director of corporate citizenship for CPA Canada said it is encouraging that participants plan to keep spending in check this holiday season.

“Many Canadians could make it easier on themselves by planning ahead and saving throughout the year for holidays. Thinking ahead financially can sure help make the season one of good cheer.”

Other results from the survey showed 46 per cent plan to spend money in brick and mortars, 16 per cent plan to spend mostly online, while one third will split their holiday shopping evenly.

The CPA Canada 2018 Holiday Spending Survey was conducted online from Nov. 2 to 8, with 2,002 random Canadians over 18.

tyler.marr@jpbg.ca

On Twitter: @JournoMarr