COVID-19 Pandemic has No Effect on Canadian Holiday Spending According to Surveys

Although the majority of Canadians do not plan to cut gifts this year, surveys show that holiday spending habits have changed somewhat because of the COVID-19 pandemic.

According to a recent survey by Equifax Canada, 58% of respondents said they would spend the same amount on holiday gifts as last year, with only 4% planning to spend more.

Only 33% of Canadians surveyed said they plan to spend less on gifts this year.

“Despite COVID-19, people still have a good level of optimism when preparing for the holiday season,” said Rebecca Oakes, assistant vice president of Equifax Canada’s Advanced Analytics team, in a press release.

According to Equifax, credit card usage remained low with a 10% decrease compared to Q2 and Q3 2019.

But consumer spending rebounded back to pre-COVID levels in Q3. The holidays will boost card usage in Q4.

The September online survey, polling 1,539 Canadians using Leger’s online dashboard, found that 6 out of 10 Canadians viewed the financial impact of the pandemic in a more positive direction, with nearly half (45%) expecting their household finances to stabilize over the next six months.

Similarly, Professional Accountants Canada’s Annual Vacation Expenditures Study (CPA Canada) found that 37% of holiday shoppers spent money on gifts in 2020 – just less than 2%. compared to those who are budgeting for gift giving in 2019.

The CPA survey found that while 29% of shoppers plan to spend less this year due to the pandemic, Canadians still intend to spend an average of $ 588 this holiday season, slightly higher. compared to $ 583 reported in 2019.

This content is also available in: Tiếng Việt

#seesomething, saysomething

Culture Magazin magazine always wants to listen and receive contributions from readers.
In case you submit articles about your ideas, interesting social events or hot news that you would like to share with us, email us at or inbox us at the FB page –
Try our test reporter once. Quality articles will be selected and posted on Culturemagazin’s website and official social networking sites!
#seesomething, saysomething


Bài Liên Quan

Canada dropped to 20th in the world in the number of vaccines injected

Canada has lagged behind other developed countries in the number of vaccinations per capita, due to the disruption of planned vaccinations.

Experts Worry Ontario’s New COVID-19 Guidelines Set The Requirements for Closures and Lockdown Too High

The new rules require positive rates above 10% before applying the red limit. One day after the province released...

Federal Sickness Benefit Falls Short of Paid Sick Leave Protections, Says Advocates

The federal sick leave program that was created to make sure people wouldn't face financial hardship if they have to miss work...

As new clusters emerge, WHO warns virus may be here to stay

BRUSSELS — New coronavirus clusters have surfaced around the world as nations struggle to balance reopening economies and preventing a second wave...

Ontario Premier Doug Ford and Fellow Ministers Being Tested for COVID-19

Doug Ford was supposed to announce the status of Ontario’s post-secondary institutions reopening strategy but was unable to attend as he and...

Canada honours six killed in a helicopter crash with COVID-19 measures in place

Reported By: Steve Scherer, Reuters OTTAWA (Reuters) - Canada on Wednesday honoured six members of its armed forces killed...

Climate Hero Hoang Thi Minh Hong

Hoang Thi Minh Hong is the founder and director of CHANGE, a non-profit organization that protects the environment. She is the...

This content is also available in: Tiếng Việt