We’re still not back to where we were but consumers appear ready to treat the ones they love a bit this Christmas.
A new forecast from Deloitte’s says Canadians will spend a little bit more in this year’s holiday season. They have a target of $1,478 which is about 10-percent higher than last year but still a long way from the good old days of 2019, before the pandemic.
Back then, we were spending a couple hundred dollars more at a time when things were cheaper.
Nonetheless, the accounting and consultancy firm says people they survey expect to spend more this year but it’s not because they feel more optimistic, its more of an inflation-driven spending rise in what Deloitte calls… a search for value.
They see more spending on travel and charitable giving but a willingness to make due with current wardrobes as a cost-saving measure. And we’ll likely take a ‘go slow’ approach on shopping this year with most planning to hold off on any spending until after Black Friday which will condense the holiday harvest season for those in the retail sector.
