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

Future Shop stores closing, some converting to Best Buys

Closure will result in the loss of 500 full-time and 1,000 part-time jobs

CMOs want the “brand” back in branded content

At IAB Engage, marketers for Molson, Kraft, Cara Foods talk branded content strategy

Airbnb signs deal to sponsor 2016 Rio Olympic Games

Online community is the Games' first alternative accommodations sponsor

Grey Canada gets a shot at Tequila Herradura

Brown-Forman brand awards digital CRM and below-the-line duties to WPP shop

Metro pairs fashion with food

Grocer partners with fashion magazine Flare on food-focused marketing campaign

Activia kicks off campaign with world record attempt

Yogurt brand positions itself as a "lifestyle partner" through Rogers Media partnership

HBO Canada gives fans a chance to sit on the Iron Throne

Selection of Game of Thrones products available at Toronto pop-up shop

Frank & Oak push pop-up competition in the U.S.

Montreal-based retailer is giving consumers the power to pick temporary locations

How to create an engaging flyer

Expert Patrick Rodmell shares five best practices that apply to all retail sectors