Canadians ready to shop for the holidays: TNS

Consumer confidence is at its highest level since July 2011, and Canadians appear ready to spend entering the key holiday sales period, says marketing and social research firm TNS. The TNS Canadian Consumer Confidence Index rose to 98.9 from 98.0 in November, and senior vice-president and study director Norman Baillie David said that consumers feel […]

Consumer confidence is at its highest level since July 2011, and Canadians appear ready to spend entering the key holiday sales period, says marketing and social research firm TNS.

The TNS Canadian Consumer Confidence Index rose to 98.9 from 98.0 in November, and senior vice-president and study director Norman Baillie David said that consumers feel confident the country’s economic situation is “basically under control.”

The so-called “Present Situation Index,” which determines how people feel about the economy right now, also rose from 99.6 to 101.1 – its highest point in four years. Baillie David said the results are a clear indication that Canadians are translating Barack Obama’s win in the recent U.S. presidential election into feeling good about the economy.

The Buy Index, which determines how Canadians regard the suggestion that now is a good time to purchase a big-ticket item such as a car or major appliance, took an expected dip – from 94.5 to 92.8 – as people begin to focus more on holiday gift giving.

However, TNS said confidence and optimism is spilling over into Canadians’ holiday shopping plans. Canadians intend to spend an average of $865 on the holidays this year, almost $100 more than 2011 and the highest amount since 2009.

The percentage of Canadians indicating they will spend more this year has risen from 8% in 2009 to 15% this year, while the number of people who claim they will be spending less has gone down from 32% in 2008 to just 23% this year.

“Retailers should see a good year in 2012,” said Baillie-David. “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.”

The Consumer Confidence Index gauges Canadians’ attitudes about the economy each month, and is part of an ongoing study conducted by TNS in 18 countries. The Canadian results are based on telephone interviews with 1,017 Canadians conducted from Nov. 12 to Nov. 15 and are considered accurate within plus or minus 3.1% 19 times out of 20.

Brands Articles

4 values at the heart of good customer experience design

Schulich's Charlene Precious Tcheong explains the emotion-over-logic marketing approach

Uniqlo to open first two Canadian locations in Toronto

Japanese fashion retailer expands global operations into Canada

Sears Canada hands top management job to acting CEO

Ronald Boire gets official go-ahead to continue department store's rehab

How Target’s departure is impacting the ad community

Reports of staff layoffs begin to surface amid millions of dollars in unpaid bills

Deadmau5 mixes things up in Tim Hortons’ test kitchen

The Canadian DJ continues his social and sugary love affair with the coffee chain

McDonald’s prepares for a comeback after Q4 sales dip

Fast food giant evolving to a more "customer-led" organization

Target owes vendors $3.4 billion

Long list of creditors includes Carat, KBS, Veritas Communications and National PR

Simons adds to Canadian expansion plans

Retailer plans for second Edmonton store