BMO says most Canadians are scaling back or shifting holiday spending as tariffs and rising prices strain budgets. Households are buying earlier, seeking Canadian-made goods, and cutting discretionary costs while relying more on discounts and digital budgeting tools.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02BMO Financial Group said many Canadians are scaling back or shifting holiday purchases as tariffs and rising prices reshape budgets, according to Benzinga.
00:11A new survey shows more than three in five households are adjusting their holiday plans as tariffs and broader economic pressures make the season costlier.
00:19The Real Financial Progress Index found 61% of households are changing how they shop by seeking items less exposed to tariffs,
00:26choosing Canadian-made goods, or buying earlier in the season.
00:30Analysts tied the pressure to rising food prices, unemployment, and inflation concerns.
00:35Many Canadians are cutting discretionary holiday costs, while also turning to discounts, cheaper gifts, and staggered purchases to manage budgets.
00:43BMO said 68% are trying harder to stay on budget by saving early, hunting for discounts, or using digital tools to manage credit and plan purchases.
Be the first to comment