Atlantic Canadians to spend more for holidays
Posted Nov 25, 2011 11:08:10 AM.
This article is more than 5 years old.
The average Atlantic Canadian is planning to spend about a thousand dollars on gifts alone this holiday season, according to the most recent shopping survey.
A Harris-Decima report for CIBC found shoppers in Atlantic Canada will spend an average of $996 on gifts.
That’s well above the national average of $628, and slightly more than second-place spenders in Alberta who plan to spend $810.
CIBC’s senior director of retail and business banking said there are only two reasons why Atlantic Canadians may seem more generous than the rest of the country.
“When you think about your holiday gift list there can really only be two reasons,” said Geoff Dillon. “One is, you either have more people on the list, or two, you’re willing to spend more on each person on the list.”
Speaking to shoppers at West End Mall in Halifax, people were either at one end of the budget spectrum or the other, saying $1,000 was too much or too little.
One woman told me $1,000 would pay for presents, travel, groceries and other expenses in her household.
“There’s no need of it because most of our children have everything. We don’t exchange with our parents because they all have something,” said one shopper. “To just buy them needless things really doesn’t make sense. I’m in an organization that helps needy people and I think that where it’s needed.”
“I think it’s a little low myself. I only have one child but I’m buying for four people. It seems reasonable to me to spend $2,000 among four people,” said Michael Savage, adding he will be spending more on travel and other holiday expenses.
The report also found most Canadians will be using cash or debit for their holiday purchases with only 31 per cent using credit.
