(Pxhere)

(Pxhere)

As Canadians break records with holiday shopping, 25% admit to overspending: RBC poll

British Columbians turned out to be the most thrifty of holiday shoppers

Whether it was being separated from family and friends or the general ennui of spending a holiday season during a pandemic, Canadians racked up some hefty bills this holiday season.

According to a poll conducted by RBC, Canadians spent more money holiday shopping this year than they did any year in the past decade.

The poll found that the average Canadian spent $735 this holiday season, up from $709 in 2019.

Pollsters found that another record set was how many shoppers went over budget, with 25 per cent spending an average of $588 more than they planned. The $588 figure represents a 28 per cent increase from the average amount shoppers overspent last year.

The biggest holiday spending categories were gift cards at $121, electronics at $104 and giving experiences to their families and friends at $91.

However, British Columbians turned out to be the most thrifty of holiday shoppers; only 18 per cent of them overspent, while the biggest over-spenders were in Ontario at 27 per cent.

Pollsters found that 67 per cent of those who spent more than they expected to have yet to pay off those holiday bills. Only about 25 per cent have immediate plans to cut back on expenses such as entertainment and daily living expenses, while 18 per cent plan to carry credit card debt for at least two months.

And while 20 per cent of people surveyed said they planned to set aside savings for the next holiday season, half said they “have no idea” how much they might be able to save.

“We know Canadians have the best of intentions about saving and that it can be difficult to set a budget and stick to it. In these uncertain times, we’re also seeing that, while some are able to save more than they thought because they are spending less, others are struggling to make ends meet as a result of the pandemic,” said Niranjan Vivekanandan, vice-president of term investments and savings at RBC.

READ MORE: Canadians said they’d drop average holiday shopping to $200 each as pandemic takes hit on budget


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

CoronavirusHolidaysShopping and Classifieds

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Alberta has 1,910 active cases of COVID-19 as of Wednesday. Red Deer is reporting five active cases, with 108 recovered. (File photo)
Alberta identifies 2,042 new COVID-19 cases Saturday

Central zone has 2,917 active cases

Alberta Premier Jason Kenney. THE CANADIAN PRESS/Jason Franson
Jason Kenney urges federal government to push U.S. for surplus COVID-19 vaccines

‘It makes no sense for our neighbours and regional states to be sitting on doses that we cannot use,’ the premier said

Alberta reported an additional 1,980 cases of COVID-19 Friday. (NIAID-RML via AP)
Red Deer adds 37th death from COVID-19, active cases drop

Alberta Health identified an additional 1,980 cases of the virus province-wide

Alberta Premier Jason Kenney (File photo by THE CANADIAN PRESS)
Kenney to announce plan for truckers to get COVID-19 vaccinations in nearby states

Alberta is approaching 25,000 active cases of COVID-19, and there are more than 600 people in hospital with the illness

Alberta’s chief medical officer of health Dr. Deena Hinshaw asked Albertans to limit travel throughout the province as COVID-19 cases continue to rise. (Photo by Chris Schwarz/Government of Alberta)
Red Deer nears 900 active COVID-19 cases

Province reports additional 2,211 COVID-19 cases

Canada’s chief public health officer is reminding Canadians even those who are fully vaccinated are not immune from transmitting the COVID-19. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns full vaccination does not equal full protection from COVID-19

Post-inoculation, Theresa Tam says the risk of asymptomatic infection and transmission is far lower but not obsolete

Jennifer Coffman, owner of Truffle Pigs in Field, B.C., poses beside her business sign on Thursday, May 6, 2021, in this handout photo. Her restaurant and lodge have been hit hard by a closure of a section of the Trans-Canada Highway and by the British Columbia government discouraging Alberta residents from visiting during the pandemic. THE CANADIAN PRESS/HO-Jennifer Coffman, *MANDATORY CREDIT*
‘Why we survive’: B.C. boundary towns struggle without Albertans during pandemic

Jennifer Coffman’s restaurant is located in the tiny community of Field, which relies on tourism

A rodeo south of Bowden drew a huge crowd on May 1 and 2, 2021. (Photo courtesy Mom’s Diner’s Facebook page)
Amazon is pausing its Prime Day marketing event in Canada this year amid ongoing COVID-19 outbreaks at its facilities in Ontario. THE CANADIAN PRESS/Nathan Denette
Amazon Prime Day halted in Canada due to COVID-19 outbreaks in warehouses

The event was postponed to protect the health and safety of employees and customers, the company says

Big truck semi trailer moves on the highway towards sunset
Alberta’s cross-border truckers to be vaccinated at Montana rest stop

2,000 Alberta truck drivers who transport goods across the border will be able to receive the Johnson & Johnson vaccine in Montana

Road sign on Highway 1 west of Hope warns drivers of COVID-19 essential travel road checks on the highways into the B.C. Interior. (Jessica Peters/Chilliwack Progress)
B.C. residents want travel checks at Alberta border, MLA says

Police road checks in place at highways out of Vancouver area

People line up outside an immunization clinic to get their Oxford-AstraZeneca COVID-19 vaccine in Edmonton, Tuesday, April 20, 2021. THE CANADIAN PRESS/Jason Franson
Hospital investigating whether Alberta woman who died after AstraZeneca shot was turned away

Woman was taken off life support 12 days after getting vaccine

Most Read