This may be the one week of the year when people — perhaps parents of young children especially — find themselves bouncing between two emotional extremes: from happiness when enjoying time with family and friends, to worrying that in the very near future they will have to start paying the bills from Christmas.
Judging from some of the early surveys done in Canada there’s a lot of people in this country, and this province especially, who are apparently blissfully unaware the world is still in a state of economic crisis.
A BMO Financial Group poll shortly before Christmas said Canadians would spend about seven per cent more this holiday season than in 2010, predicting each person would spend $1,397.
We Albertans, however, were expected to flaunt our wealth and spend a shocking $1,600 each.
Interestingly, the survey found that spending on entertainment would increase nearly $100 to about $307, while spending on gifts would decline slightly to $582 from $613.
Would this suggest we’re more interested in ourselves than our family and friends? Are we forgetting the phrase: It’s better to give than to receive?
Another survey, this one by Ipsos Reid for RBC Financial, put Canadian spending on gifts at a higher $640 average. Again, Albertans appeared eager to help the economy, being pegged as the second-highest spenders at $703 on gifts.
And a third poll by TD Canada Trust put the average holiday cost at about $1,100 a person. About 28 per cent of Canadians said they were hoping to keep their spending below $500 and 22 per cent expected to spend $2,000 or more. On average, Canadians said they expected to spend about $80 per person on gifts. Alberta’s average was $75.80.
The Retail Council of Canada estimates that retail sales this Christmas would increase three per cent over last year.
If the pollsters and surveys are correct, Canadians have chosen to pretend there is no such thing as an economic slowdown. We’re all living the good life where money isn’t an issue and we can continue on our merry spending ways.
Heck, even on Christmas Day the spending didn’t cease. ON CHRISTMAS DAY!
IBM tracks shopping at more than 500 websites other than Amazon.com, which is the largest online retailer. The company found that online shopping jumped 16.4 per cent on Christmas Day over last year and the dollar amount of those purchases made using mobile devices jumped 173 per cent.
One has to wonder what that says about society, when we’re so wrapped up in shopping and technology that we can’t put down the mobile devices long enough to enjoy just one day with family and friends.
Of course, Boxing Day remained one of the biggest days of the year with Canadians flocking to stores seeking those sharp discounts, especially on electronics.
And still, there’s New Year’s Eve to come. Dec. 31 is traditionally a big evening for restaurants, bars and hotels and everything suggests this Saturday won’t be any different.
Obviously most Canadians have chosen to follow their usual pattern of the holidays — spend, spend, spend — and worry about paying for it next month when the credit card bills arrive.
