Inflation affecting holiday shopping habits in Ottawa
Tis the season for some holiday magic at the Ottawa Christmas Market at Lansdowne.
"It’s so cute. It’s so nice; you can spend as much or as little money as you want going to these events," said Madison Lacoste, while taking in the twinkling lights and sipping on hot apple cider with her family.
As the festive season ramps up, so does the urge to spend and many Canadians are feeling the pinch.
"I would say food is a bigger issue at Christmas time just because more family will be home and you’re trying to make it as special as possible," Karen Baird said Sunday.
"I started shopping later as a result waiting to see my budget, and it’s December now so time to get going," said Samantha Moonsammy as she checked out the local vendors at the market.
A recent Nanos survey shows about 46 per cent of Canadians will spend about the same this holiday season, while 43 per cent will spend less and about 10 per cent will spend more than previous years.
"I think we’re seeing a lot more muted activity right now," said Moshe Lander, an economics professor at Concordia University.
"I don’t think the spending is there, especially when you add it to higher interest rates, trigger rates on mortgages and large amounts of debts that Canadians have."
These pressures, combined with the threat of a recession in 2023, have many adjusting their shopping habits this holiday season.
"Even for each other we're probably spending less on each other," said Tony Hendricks, adding he and his wife Michelle are choosing to be strategic when it comes to their shopping.
"We did limit what we spent on each other but we are going to make sure everybody has a good Christmas," Michelle said. "I’m looking for more deals I would say this year."
When it comes to gift giving, retail analyst Bruce Winder suggests looking for last minute sales and other alternatives.
"Making gifts for people or even buying something or even buying something used, unexpected or unique, it might help you save some money," Winder said.
CTVNews.ca Top Stories
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.