A poll suggests most Canadians will be spending some time over the next few days elbowing their way through crowded stores to buy that last holiday gift.
The Angus Reid survey done for CIBC found that as of Dec 15, 69 per cent of respondents still hadn’t finished their holiday shopping, and 15 per cent of those who answered hadn’t even started.
Canadians between the ages of 18 and 34 were the most behind on their shopping, with three quarters of that age group saying they still had some buying to do.
“While Canadians have done a good job so far of keeping their spending in check, with so many still shopping at the last minute, the risk of overspending increases,” said Steve Webster, Vice-President, Retail and Business Banking, CIBC.
“Although the hustle and bustle of last-minute shopping is part of Canadians’ reality, shopping at the last second often forces you to make heat-of-the-moment decisions and go over budget because of the time crunch.”
Millennials, or Canadians aged 18-34, are the biggest procrastinators, with 75 per cent saying they have not finished their shopping. When it comes to those who haven’t started their shopping, 18 per cent of men and only 11 per cent of women say they had not bought a single gift yet.
Those who had done some shopping had spent an average of $601; last year’s poll found the average was $678.
The survey also found that the British Columbians polled loosened the purse strings the most, spending an average of $871 as of Dec. 15, while Quebecers had spent only $383. Shoppers in Ontario have spent an average of $601.
The poll surveyed 1,519 people Dec. 14-15, and is considered accurate within 2.08 per cent 19 times out of 20.