TD Bank Group Newsroom
It's spending as usual for Canadians this holiday season
--TD Canada Trust poll finds Canadians will spend an average of $80 per person on holiday gifts this year--
TORONTO, Nov. 22, 2011 /CNW/ - With the holiday shopping season in full swing, seven-in-ten Canadians say they won't be reducing their holiday spending this year despite the economic climate. According to the TD Canada Trust Holiday Poll, Canadians are planning to spend an average of $1,100 on food, gifts and entertainment this holiday season.
While just over a quarter (28%) of Canadians hope to squeeze in all their holiday shopping for less than $500, nearly as many (22%) expect to spend $2,000 or more. Atlantic Canadians are the most likely to spend more this season, expecting to spend an average of $1,374, while Quebecers are the most conservative at $900.
Whatever the total you are planning to spend this year, staying within a set spending amount can be easier by planning ahead and getting organized with a budget.
"You've made your list and checked it twice, but the festive lights and décor can sometimes cause you to go overboard. A great way to track your spending and reap the rewards benefits is to make your holiday purchases on one credit card," says Pam Paddon, Associate Vice President, TD Credit Cards. "Make sure to check your account regularly to ensure you're staying within budget and always remember to pay your credit card bill in full at the end of the month."
While it may seem daunting to check off everyone on your holiday gift list each year, it doesn't have to be expensive. On average, Canadians are planning to spend about $80 per person on gifts these holidays. Ontarians are spending the most, with an average budget of $80.78 per person, while Albertans have allocated less for gift budgets at $75.80 per person.
Canadians are bargain hunters
Eight-in-ten Canadians say deals and discounts can influence their holiday shopping decisions. In fact, Ontarians are most likely to admit deals always play a role in their purchasing decisions (21% versus 19% nationally), while Manitoba and Saskatchewan residents are least likely to be swayed by sales promotions (11% versus 19% nationally). Interestingly, women are also first to admit they look for deals over the holidays (23% versus 14% of men).
"One of the easiest ways to find savings during the holidays is to use your credit card rewards points towards your gift purchases," says Paddon. "A good credit card will give you the freedom and flexibility to redeem your rewards points for a wide range of gifts or gift cards from top retailers. For example, the new tdrewards.com is a one-stop-shop for holiday shoppers, offering TD credit cardholders thousands of unique gift ideas, exclusive deals and discounted offers."
About the TD Canada Trust Holiday Poll
TD Canada Trust commissioned Environics Research Group to conduct a national telephone omnibus study of 1,000 Canadian adults. Results were collected between October 25-31, 2011.
About TD Canada Trust
TD Canada Trust offers personal and business banking to more than 11.5 million customers. We provide a wide range of products and services from chequing and savings accounts, to credit cards, mortgages and business banking, to credit protection and travel medical insurance, as well as advice on managing everyday finances. TD Canada Trust makes banking comfortable with award-winning service and convenience through 24/7 mobile, internet, telephone and ATM banking, as well as in over 1,100 branches, with convenient hours to serve customers better. For more information, please visit: www.tdcanadatrust.com. TD Canada Trust is the Canadian retail bank of TD Bank Group, the sixth largest bank in North America.
PDF with caption: "TD Canada Trust Holiday Poll - BC News release.pdf". PDF available at: http://stream1.newswire.ca/media/2011/11/22/20111122_C7909_DOC_EN_7014.pdf
PDF with caption: "TD Canada Trust Holiday Poll - Alberta News release.pdf". PDF available at: http://stream1.newswire.ca/media/2011/11/22/20111122_C7909_DOC_EN_7015.pdf
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