Atlantic Canadians plan to drop the biggest chunk of change in the country on holiday shopping this year, according to a poll released earlier this month.
“The stat is not surprising,” said Ed McHugh, who teaches business at multiple post-secondary schools.
According to the CIBC poll, which did not include any territories, Canadians said they plan to spend an average of $652 compared to $517 last year; the latter figure came from a similar poll by the same bank.
Quebecers are shelling out the least at $450 while people in Atlantic Canada are at the top at $867.
McHugh said the increase can be partly attributed to no major recession hitting the country in several years.
“People are starting to feel a little more confident, and, as you know, it’s confidence that spurs on the spending,” he said.
“When people are not feeling good, they don’t spend money. Even people with lots of money don’t spend money when they’re not feeling good about the economy.”
McHugh said the reason why people in the east plan to spend so much is because there is a strong sense of community and generosity among family members and neighbours.
“We know who people are. We get their interest, so now, all of sudden, we get to have a bit of an extended Christmas list more than others,” he said.
The poll also found that, aside from buying gifts, entertaining and dining out are a couple of the main reasons why Canadians go over budget.
“From November 16-17, 2015, an online survey was conducted among 1,503 randomly selected Angus Reid Forum panelists. The margin of error – which measures sampling variability – is +/- 2.5%, 19 times out of 20. Discrepancies in or between totals are due to rounding,” the press release for the poll read.
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