Canadians are stacking extra money-saving techniques this yr to offset vacation spending
TORONTO, Sept. 25, 2023 /CNW/ – Canadians have adjusted their money-saving and gift-giving techniques, together with a discount of grand reward exchanges for smaller variations, in line with Rakuten.ca’s Vacation Spending Survey in partnership with Ignite Labs. With the typical anticipated spend on vacation presents estimated to be $570, down from $600 in 2022, Canadians wish to cut back their vacation spending amid rising prices seen all year long. Mother and father will seemingly be spending probably the most this yr than every other demographic surveyed, estimating a mean spend of $745 for this vacation season.
The survey discovered that Canadians plan to make use of a mean of 5 cost-saving methods, up from three in 2022. Price saving measures embrace: 75 per cent actively searching for gross sales/affords, 61 per cent planning to make use of loyalty packages like Rakuten.ca to earn money again, 35 per cent planning actions as a substitute of presents and 56 per cent procuring earlier to unfold out the bills. 33 per cent are planning to drop some recipients from their typical lists, together with associates, coworkers and neighbours.
“Offsetting the monetary pressure of one of many highest procuring intervals of the yr is usually a precedence for a lot of Canadians and we’re seeing growing numbers of shoppers taking a look at methods they will save, whether or not it’s procuring gross sales or stacking offers,” says Jennifer LaForge, Normal Supervisor at Rakuten.ca. “We have been seeing much more aware shoppers, particularly these searching for on a regular basis financial savings to steadiness the high-spend vacation season with the remainder of the yr.”
Savvy customers are constantly searching for new methods to save lots of in occasions of accelerating costs and are frequent customers of money-saving techniques, money again and loyalty packages in addition to procuring gross sales all through the reward giving season.
As Canadians ramp up their cash saving techniques, loyalty packages providing money again might be more and more utilized, with 65 per cent of respondents saying they like money again versus the 35 per cent preferring factors methods. For vacation spending, 61 per cent mentioned they’d partake in the usage of loyalty packages to earn money again on their festive purchases.
Purchasing at excessive gross sales occasions is a typical tactic for Canadians, together with the 63 per cent of these planning to buy Black Friday, 50 per cent planning to buy on Cyber Monday, and 46 per cent planning to buy on Boxing Day. 63 per cent of survey respondents additionally famous that they will be benefiting from these gross sales to buy themselves in addition to others.
When considering of what they wish to obtain themselves as vacation presents this yr, many Canadians say they wish to obtain sensible objects that they really want (63 per cent), adopted by reward playing cards (53 per cent), experiences (28 per cent) and lastly luxurious objects (26 per cent). Considerate and accountable spending is prime precedence as Canadians are searching for methods to stretch their {dollars} additional. As well as, to assist handle vacation bills, 76 per cent of Canadians plan to set an approximate price range for his or her procuring.
The Rakuten Canada survey was carried out on-line by Ignite Lab, a Toronto-based survey consultancy specializing in retail, journey and know-how segments, in August 2023 with a nationally consultant pattern of 1,000 Canadians. A pattern of this dimension is correct to inside +/-3 proportion factors, 19 occasions out of 20. References to earlier Vacation analysis are from surveys carried out in 2022 & 2020 (approx. 6-months into Covid).
For over 10 years, Rakuten.ca is a number one procuring rewards program that gives Money Again, offers and rewards from all of your favourite manufacturers. By partnering with over 750 manufacturers in attire, well being and sweetness, journey, on-demand providers, subscription containers and extra, Rakuten helps Canadians get extra from the issues they purchase. Since launching in 2012, Rakuten has grow to be the biggest and most rewarding procuring expertise, and its 7 million members have earned $140 million in Money Again only for procuring by way of Rakuten.
For extra info, go to Rakuten.ca.
SOURCE Rakuten.ca
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