Canadians are delaying major purchases and one in three to spend less or cancel vacation
Canadians say they are delaying major purchases and will spend either the same or less on vacations in the current economic climate.
- Making major purchases – Fifty-one percent of Canadians are delaying major purchases such as a home or a car at this time, while 20% think now is a good time to make major purchases and 12% are cancelling major purchases. Eighteen percent of Canadians are unsure how they would describe themselves in terms of making major purchases. Those in Atlantic Canada are the least likely to cancel major purchases at this time (six percent).
- Vacation spending – More than one of three (36%) Canadians plan to spend about the same amount on their vacation this year and a significant 25% say they will spend less.Ten percent will spend more on their vacation this year, while 12% are cancelling their vacation this year. Fourteen percent of Canadians said they do not take vacations and three percent are unsure how to describe their vacation spending this year.
These observations are based on a hybrid survey commissioned by CTV News and conducted by Nanos Research. Individuals were randomly recruited (land- and cell-line sample using live agents and the survey was administered online random survey completed between January 30th and February 1st, 2016. It was comprised of 1,000 Canadians. A random survey of 1000 Canadians is accurate 3.1 percentage points plus or minus, 19 times out of 20.
The full survey results can be found by visiting our website.
Nanos conducted an RDD dual frame (land- and cell-lines) hybrid telephone and online random survey of 1,000 Canadians between January 30th and February 1st, 2016 as part of a Canadian omnibus survey.
Participants were randomly recruited by telephone using live agents and administered a survey online. The sample included both land- and cell-lines across Canada. The results were statistically checked and weighted by age and gender using the latest Census information and the sample is geographically stratified to be representative of Canada. The research was commissioned by CTV News.
The margin of accuracy for a random sample of 1,000 Canadians is 3.1 percentage points, plus or minus, 19 times out of 20.
Nik Nanos, FMRIA