Canadians To Spend Less On Christmas This Year: Poll
A majority of Canadians say they plan to spend less money on Christmas this year, according to a poll by the Angus Reid Institute.
The survey found that 56% of respondents will cut back their spending on gifts, decorations and entertainment.
The poll comes as Canadians’ optimism about their finances continues to deteriorate.
A total of 31% of people surveyed said they are pessimistic about their financial situation heading into 2023, which is a 2% increase from the same period of 2021.
About 20% of Canadians think they’ll be better off financially a year from now and 41% think they’ll be in the exact same financial situation.
Read:
Latest Set of FDA Fast Track Designations Causing Optimism in Biotech Sector
Biotech Sector to Unveil New Data and Developments at 2022 SABCS in San Antonio
Biotech Sector Witnessing Growing Revenue Potential in Ongoing Battle Against Pancreatic Cancer
New Biotech Sector Drug Combinations Target a Drop in Pancreatic Cancer Mortality Rates
Highly Sought After Natural Ingredients Appearing in More Plant-Based Products Across North America
Many Canadians began reducing their spending heading into the year-end holidays.
The report found that 64% of respondents cut back on their discretionary spending, which is up 7% from August of this year.
Canadians are also scaling back their travel plans, with 37% saying they’ve cancelled or reduced their vacation plans, up 5% from August.