Canadians are taking the classic carol "I'll Be Home for Christmas" to a whole new level this season! According to the latest consumer trends survey from digital offers website RetailMeNot.ca, 87 per cent of Canadians will shop for most of their holiday gifts in-store at Canadian retailers, and 21 per cent will shop for most gifts online with Canadian e-tailers this holiday season.
"A RetailMeNot.ca survey showed that 44 per cent of shoppers indicated that they do less holiday shopping in the U.S. now that Black Friday and Cyber Monday are in Canada. Unfortunately, many Canadians don't know how to take full advantage of pre-holiday savings," says Angela Self, co-founder of Smart Cookies, the daily guide to living a sweet life debt-free. "Only 29 per cent of Canadians are planning to shop online during Cyber Monday, which is much lower than our savvy neighbours to the south, where 47 per cent of Americans plan on snagging sales on Cyber Monday."
Additionally, while 57 per cent of Canadians surveyed see Black Friday as an opportunity to get great deals before the holidays, only 13 per cent plan to actually shop on Black Friday and Cyber Monday this holiday season.
Although more than half (54 per cent) of Canadians polled believe everything from toys and clothes to jingle bells are marked up heading into the holidays, this does not damper the joyful spending spirit, as nearly one-fifth (19 per cent) of Canadians plan to spend more than $1,000 on gifts. The average Canadian surveyed plans to spend $588 this holiday shopping season; British Columbia residents will be spending the biggest bucks, totaling $624 on average.
When it comes to the holidays, Canadians are true to their good-hearted reputation, with 89 per cent of respondents purchasing gifts for family and friends because they enjoy the act of giving, not because they feel obligated to do so. However, the latest RetailMeNot.ca survey also revealed that Canadians are not taking the necessary precautions to avoid a holiday spending hangover. Nearly half (48 per cent) of those Canadians surveyed do not know where to find the best Black Friday deals.
Other survey findings include:
- Guilty guys: 31 per cent of Canadian men purchase gifts because they feel pressure to do so.
- Selfless giving: 84 per cent of Canadians purchase gifts regardless of whether or not they will receive one in return.
- Quality over quantity: Nearly half (48 per cent) of Alberta residents said they buy as few gifts as possible.
- It's not me, it's you: 56 per cent of Canadian men find Canadian women more difficult to shop for, while 58 per cent of women think men are more difficult to buy for.
- North-South divide: Food and entertainment gifts top the list for Canadians (63 per cent) this year, while Americans prefer clothes (67 per cent).
To lend a helping hand this holiday season, RetailMeNot.ca teamed up with Angela Self and Katie Dunsworth of Smart Cookies to offer savvy spending tips and tricks. Here are a few of their insider ideas for holiday shopping and savings:
- Create a spending plan: With Black Friday and Cyber Monday now in Canada, you can save big on hot ticket items without crossing the border. Stick to your budget by allocating a certain amount of money to Black Friday purchases and do not go beyond that number.
- On Cyber Monday, stack your savings: In addition to the great prices, look for online promo codes. After all, a 10 or 15 per cent savings can make a big difference, especially on items like electronics, which 1 in 3 Canadians plan to buy this holiday season.
- Start early for the best deals on "must-buy" gifts: In order to get the best deals on the best items, you need to start planning. Prioritize your "must-buy" items and try to hunt those down first by heading to the stores or online early.
- Know when to wait: Popular seasonal gifts like clothing or toys tend go on special later in December as retailers move to push more product off the shelves. So if you're willing to wait and risk a smaller selection for the less important gifts, you may get the best deals.
- Ask for extras: When shopping on Black Friday or Cyber Monday for expensive items like electronics, you may also be eligible for free add-ons like a service plan or an accessory. All you have to do is ask or do a quick search on RetailMeNot.ca for a coupon code for additional savings!