The surprising amount people are spending on gifts
And it's up from last year
GST holiday break: Is it good for Canada’s economy?
Economists share how the temporary tax cut and relief cheques may play into Canada’s growth picture.
If it feels like your wallet is bleeding this time of year, you’re not imagining things. Yes, it’s the holiday season and there are gifts to be bought and parties to prep for, but according to a new survey on holiday gift spending from the savings website RetailMeNot, the average shopper will shell out more money this season than they did last year. The average amount may shock you: $482 on gifts just this season alone.
Holiday gift spending is actually up from the 2016 holiday season, and here’s how it breaks down: shoppers this year say they will spend an average of $330 to treat the kids to a happy haul, with gift spending for significant others averaging $196, $105 for parents, $90 for siblings, and a mere $57 to bestow besties everywhere with the holiday spirit.
If that stresses you out—or perhaps it makes you feel like you feel like you could actually cut back on your spending?—when most people are doing the shopping might also give you pause. That’s because 45% start their holiday shopping around Nov. 1—heck, barely 24 hours have passed since the trick or treating ceased and the Halloween candies were collected?! And then there’s the 25% of people who get going on their holiday gift list in October. And yes, they are probably patting themselves on the back right about now as the rest of us fight the mall holiday crowds.
Since the RetailMeNot site is all about deals, discounts, and coupon codes, they also offer plenty of scoop about what your fellow shoppers are seeking out this season—from the hottest toys, to the things they are most likely to scour the web until they find the best price, to the fact that 52% of shoppers will be sure to get a special code or deal before they hit “buy.”
How much do you end up spending each holiday season?
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
Money-saving gifts that keep on giving: MoneySense’s 2024 holiday guide
Looking for gifts with great value? Our editors share ideas that are thoughtful, useful and even cozy—plus they can...
Inflation is on target in Canada, so why is food (and other stuff) still so expensive?
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
Deal or no deal: What to know before shopping Black Friday and Cyber Monday sales
If you’re one of the many Canadians looking for Black Friday and Cyber Monday discounts, here’s how to know...
The best no foreign transaction fee credit cards in Canada for 2024
Cards that waive or refund the fee for foreign currency charges are few and far between—but if you’re a...
Should you buy or lease your new car in Canada?
Looking for a new car? What you should know about leasing versus owning.
The best travel credit cards in Canada for 2024
These impressive travel cards can help turn your everyday spending into flights, hotels and more.
“Everything companies”: How Amazon’s playbook is reshaping competition in Canada
In this excerpt from The Big Fix, authors Denise Hearn and Vass Bednar argue companies increasingly want to collect...
These credit cards can help you save big on travel to Orlando
Through free or discounted flights, hotel stays and car rental insurance, the right credit cards can get you to...