Canadians spending less for holiday gift shopping this year: survey

With Christmas less than two weeks away, people across the Lower Mainland are rushing to get their holiday shopping done, but many this year are making do with a smaller budget.

Locals tell CityNews they’ll definitely be tightening their budgets.

“Budgets are bad cause they make you not buy things, and I like giving gifts,” one said.

“Very limited, a couple of special people, and that’s it,” said another. “Me and my husband don’t exchange gifts, and this has been a really tough year.”

“The last three years I’ve kind of tightened my budget because prices have gone sky high,” another added.

A new survey shows most Canadians are tightening their purse strings this year when it comes to holiday shopping, with 47 per cent saying they don’t plan on spending more than $500 on food, gifts, and decorations.

The survey of about 1,000 Canadians found that almost a quarter of households are spending less than the year before as well.

Research Co. President Mario Canseco says that’s a major number in his eyes.

“That’s almost one in four households that are not going to have the same type of Christmas, spending less money on gifts,” he said.

The survey also found that those in the 35 to 54 age group are the most stressed about money during the holidays.

“Maybe you have your own kids, aging parents, you’ve spent a lot of money on things, you’re worried about how you’re going to pay for your house or the rent,” Canseco explained.

“I have to look at my family, what I have to do for the rest of the year, is the money there or is the money not there,” a Vancouverite told CityNews.

But for some locals, it’s the spirit of giving that keeps them going strong.

“The Visa bill doesn’t come until January so it’s not a big problem, it’s next year’s problem.”