Canadian holiday spending expected to decline as preference for domestic goods rises

A report from PwC Canada indicates that Canadian consumers plan to reduce their holiday spending this year. On average, shoppers expect to spend $1,487, representing an 11 per cent decrease compared to the previous year.

Despite the expected decline in total expenditure, there is a growing preference for domestic products. The survey found that 54 per cent of respondents are willing to pay more for Canadian-made goods over similar imported options, an increase from 49 per cent last year. Adam Boutros, a partner at PwC Canada, noted that more Canadians expressed a desire to keep their money within the country.

The findings are based on an online survey of 1,016 respondents conducted in late July and early August. PwC noted that because the data was collected before recent escalations in trade tensions with the United States, the results may under-represent current consumer sentiment. The Canadian Research Insights Council noted that because the survey was conducted online without random sampling, a margin of error cannot be assigned.