Spoiler alert – the number is very, very big!
Statistics Canada has published an analysis of how much money Canadians spent on gifts for each other during the 2017 Holiday season. The results are dizzying. PLUS, these are just the numbers from large retailers – that means the purchases from Mom & Pop’s corner store likely aren’t counted. Do Canadians really spend this much on Christmas each year?? There's no reason to believe they don't!
In total, Canadians spent $19 BILLION on commodities in December of 2017 – that’s up from $14 billion the previous year, a whopping 35% increase!
Here’s how some of those purchases broke down:
- Food & Beverages: $4.9B
- Health & Personal Care Products (including makeup, skin care, beauty products, etc.): $1.3B
- Clothing, Footwear & Accessories: $2.5B
- Furniture & Appliances (incl. Electronics): $3.5B
- Sporting Goods: $1.1B
- Automotive & Household Fuels: $1.6B
Interestingly, Canadians are spending a HUGE chunk of their December budgets on furniture, appliances and gas… Basically, stuff that’s not really meant to be gifted. That goes to show you… Holiday spending is not all about gifts, it’s also expensive to organize all the family get-togethers and travelling that typically happens this time of year. Oh, well… It’s all worth it!
Check out everything you need to know about Holiday events, tips & tricks, activities and MORE on The Beat of your Holidays!