UPDATE: Atlantic Equities Upgrades Equifax (EFX) to Overweight

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Most Canadians Plan to Spend Less on Gifts this Holiday Season

November 15, 2022 5:00 AM EST

TORONTO, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Consumers are certainly feeling the pinch leading into Black Friday according to new survey data* from Equifax Canada. Six-in-ten (60 per cent) say financial pressures due to inflation mean they will be spending less on gifts this holiday season, and 41 per cent say they will limit their holiday spending because they are already carrying too much debt, up from 36 per cent last year.

Coming out of pandemic restrictions over the past two years, only 12 per cent believe they will spend more this year. Of the younger adult... More