Why Aren Canadians Spending on Christmas?
The answer to this question is quite simple. People are still in fear over the state of the economy. Despite the fact that 62% of Canadians say they expect the economy to improve in the next year, they still plan on spending less on Christmas this year. Yahoo Finance reports that job anxiety is up 27%. It makes sense that if people are worried about being laid off or losing their source of income that they would want to spend less money on gifts and other luxuries. document.getElementById(‘adsense_placeholder_2’).innerHTML = document.getElementById(‘adsense_ad_2_hidden’).innerHTML; However, the fact that Canadians say they are going to spend less money on Christmas this year does not tell the whole story. There are certain areas of life that Canadians are not willing to sacrifice during this recession. One of those areas is alcohol. In fact, according to Stats Can, spending on liquor and beer is actually on the rise. Canadians spent $18.8 billion on alcohol in the year ending March 200
