In a recent survey conducted by PricewaterhouseCoopers, it was revealed that the sentiment to buy Canadian products is holding strong even as consumers brace for financial pressures during the holiday season. The survey highlights that a significant portion of Canadians is expected to reduce their holiday spending compared to previous years due to various economic factors, including anticipated high costs and trade tensions. This sentiment emerges amid a collective concern, with about 75% of Canadians expressing that they foresee difficulties for local shops over the next two years, largely attributed to influences such as tariffs impacting small business confidence.
As trade relations evolve and the cost of goods continues to rise, many Canadians are adjusting their shopping habits while simultaneously maintaining a preference for domestic products. The implications of these findings suggest that while consumers may tighten their spending, the inclination to support Canadian businesses persists, indicating potential resilience within the local economy during a challenging retail environment. The survey sheds light on the ongoing impact of external economic factors on consumer behaviour as the holiday season approaches.
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