Consumers are shelling out more when they go shopping, but they’re also buying more.
Given the inflationary environment catching all the headlines these days, spending more probably isn’t a surprise. But we are seeing some interesting responses from shoppers as they try to navigate their way through the ups-and-downs of the marketplace these days.
The latest figures on retail sales come from August where we spent more than we did in July, both in Saskatchewan and across the country. On first blush, that probably comes as no surprise since inflation is making things more expensive so it is logical that we would spend more.
But it turns out we’re not just spending more, we’re also buying more.
Gasoline is a prime example. Prices went down but we spent more. In other words, we responded to lower prices by increasing the volume of our purchases.
Statistics Canada says Saskatchewan retail spending was quite vibrant as volume rose almost two per cent in August, which is strong compared to the national average where growth came in at a third of our rate.
