Canadians are ready and willing to open their wallets. Already in 2012, retail spending is up in Canada compared to 2011 and it looks like things will be even better this holiday season.
Marketing research firm TNS projects Canadians will spend an average of $865 on the holidays this year, almost $100 more than 2011 and the highest amount since 2009.
“Consumers are feeling better about the economy than they have for some time, and they are going into the holidays clearly in a spending mood,” says TNS senior vice-president Norman Baillie David.
Meanwhile, retail real estate experts Colliers also expects cash registers to be ring ting tingling in December, projecting a retail sales increase of 4.56% over 2011 ($34.2-billion from $32.71-billion ).
Of course, ad and marketing budgets for the holiday season were set months ago, but a spike in sales late in 2012 could mean momentum and bigger budgets for 2013.
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