How Much will You Spend this Christmas?

Every year it seems, people tap into their HELOCs and run up credit card charges, all in an effort to buy gifts for those they love (and maybe even try to make it bigger and better than last year.) But, we as Canadians are going to be a little smarter with our money this year. While we’ll still buy gifts, and probably make sure that ‘everyone has a little something,’ we’re not planning on spending as much as we have in the past. This, according to a survey done by Ipsos OTX and Google that included 2,000 shoppers in Canada and the United States.
According to the survey, shoppers in the United States are planning on spending about $854, which is 6% more than they spent last year. Canadians are going to spend less than that though, with an average of $711 per shopper – and that’s lower than the $728 we spent last year.
They’re interesting statistics really. With Canada’s economy rebounding so positively from the recession, while the U.S. struggles to hold onto what’s left of theirs, the fact that American consumers are going to be spending, not just more than Canadians, but more than they have in the past – is it an indicator that some American shoppers are simply not worried about their current financial crisis? Or is the fact that they still have such faith in their economy, and are going to put more into it, a sign of good things to come for the U.S.?
Another interesting factor from the survey comes from just how Canadians are planning to spend less without striking people from their list. 56% of Canadians stated that they were planning on doing more comparison shopping than they had in the past, going from store to store in order to get the best deal – even if it does mean a little extra legwork. But some Canadians are not planning on even that much legwork. Among that 56%, many also stated that they were planning on doing more of their shopping online in order to get the best deals.
And not only are we going to keep an eye on what we’re spending when we’re spending it, but we also plan to be a little more prepared than we have been in Christmases Past, with 49% of survey respondents also saying that they plan on making a holiday budget, and making sure that they stick to it.
Another interesting side note of the survey? It states that DVDs, CDs, clothing, and books are still the most popular gifts (good to put on your list if you’re stuck); it also shows that the number one holiday gift is the computer tablet. While only 13% of us shelled out for one last year, that number will jump to 24% this holiday season.
How much are you planning on spending this Christmas? Are you buying a tablet computer?