The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
The largest gift giving season of the year is upon us, and in addition to buying presents for friends and family, Canadians plan to spend $1.6 billion on holiday treats for themselves. According to Visa Canada's fifth annual gift giving study, more than one-third of Canadians are planning to spend an average of $199 on gifts for themselves this holiday season. Forty-two percent of women are planning to buy holiday gifts for themselves compared to 27 percent of men. At the same time, men expect to spend more on themselves, averaging $292 each, while women will spend only $142. Canadians may treat themselves, but are still generous when it comes to giving to others. Eighty-four percent of those polled believe giving gifts is important, while only 32 percent believe receiving a present is important. Conducted by Maritz: Thompson Lightstone on behalf of Visa Canada, the study shows that 22.6 million Canadians plan to shop for the holidays, and expect to spend an estimated $805 on holiday gifts this year, a figure similar to last year. To date, Canadians have already spent $2.1 billion on their VISA cards during peak season (November 28 - December 3), representing a 10 percent increase compared to last year. The increase in holiday sales can be attributed to the early start of winter, as the Visa study found that approximately 40 percent of Canadians need cold or snowy weather to put them in the holiday gift-giving mood. "Canadians appear to be in the gift giving mood this year, and if these early numbers are any indication, we expect a healthy holiday season for retailers this year," said Rick Pyves, Senior Vice President, Visa Canada Association. Canadians continue to buy gifts for those nearest and dearest to them, with 71 percent of Canadians spending an average of $210 on their spouse or partner. Respondents in British Columbia will spend more on gifts for their spouse/partners ($241) compared to those from other provinces. Notably, those surveyed expect to spend an average of $180 on gifts per child, 10 percent less than the $199 they plan to spend on themselves. Seventy- five percent of residents in Atlantic Canada plan to spend an average of $248 per child, while Quebecers will show the most restraint with 69 percent of residents spending $153 per child. Tops on the list of gifts this year include clothes, followed by books, toys, music items, and gift certificates.
