CanadaCanadians to spend less
Holiday spending expected to decrease, but willingness to pay more for Canadian goods increases. 75% of Canadians expect a rough two years for local shops due to US tariffs.
Global Newsflix 1 min read
PwC says Canadians will spend less this holiday season, but are willing to pay more for Canadian goods.
75% of Canadians expect a rough two years for local shops due to US tariffs, causing small business confidence to drop below 50.
Trade tensions and rising costs are expected to impact holiday shopping.
Key facts
- Canadians to spend less this holiday season
- Willingness to pay more for Canadian goods increases
- 75% of Canadians expect a rough two years for local shops
- US tariffs cause small business confidence to drop below 50
Three perspectives
Neutral
The expected decrease in holiday spending may impact local businesses, but the willingness to pay more for Canadian goods could help some shops. Canadians are preparing for a potentially tough two years for local shops.
Positive
The increased willingness to pay more for Canadian goods could be a positive sign for local businesses, as it shows Canadians are willing to support domestic products.
Negative
The expected decrease in holiday spending and the impact of US tariffs on small business confidence may have a significant negative impact on local shops and the economy.
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