Tuesday, January 25, 2011

Canadian confidence slips, Nielsen says

Because of the recession, did your spending patterns change over the last couple of years change?

There is an article in today's Toronto Star about Canadians' spending since the recession ...

Nearly a year and a half after the recession officially ended, many Canadians continue to feel the impact and are cutting their spending on frills like entertainment and clothing, while switching to cheaper brands in the grocery store, a market research firm survey shows.

...

“We’re still focused on value, and we’re shopping discount retailers and buying on promotion at record levels. Saving on utility costs and spending less on groceries will continue to be cost-cutting measures for consumers in 2011,” Allison [Carman Allison, Nielsen’s director of industry insights] added.

You can read the rest of the article here.

In order to save on household expenses, Canadians tell Nielsen they are cutting down on:
  • out-of-home entertainment - 61%
  • spending less on new clothes - 60%
  • ordering fewer take-out meals - 55%
  • switching to cheaper grocery brands - 55%

I don't see as many concerts as I used to ... there's no one I am willing to spend $150 a ticket to see these days. On the other hand, Gord and I enjoy the Stratford Festival so still buy two tickets each (about $100 each) every summer. And I love to see movies.

Neither Gord or I are clothes crazy so our spending hasn't changed there.

We rarely order out (pizza about once a month) and eat out maybe once a week. That's always been our pattern as we try to eat as healthy as we can.

I've always bought cheaper grocery brands if the quality is the same as a name brand product. We buy a lot of President's Choice products ... the selection and quality is good..

7 comments:

Teresa said...

Nope! I have never been a big spender. I'm not into shopping and only go when I need something. Shopping is not my form of entertainment. As for big purchases we buy what we need when and only when it is needed. I think many of people get "needs" and "wants" confused and spend much more because of that.

Leeann said...

People are not cutting back on travel... people are working through their "bucket list" and definitely spending big bucks to treat themselves to trips.

Teena in Toronto said...

Good for you, LeeAnn!

lovesmukiwa said...

Our spending hasn't changed much. We live in a small town and there are no good places to eat - we buy our food mostly in bulk and mostly President's choice. We use coupons in our local grocery store....
The boys are pretty hard on clothes though and they grow stinking fast. Often they have grown out of something before they have worn it out, but we shop for their clothes at thrift stores and always have!

Teena in Toronto said...

Loves: I just read a book and they say that you should buy boys' clothes from thrift stores because they are so rough of them. Plus they are already broken in so are more comfortable.

I used coupons whenever I can.

donna said...

The shaky world ecomony has forced many of us to get back to basics and we're finding that we like it.

Thanks for visiting Mamma Mia Days. However did you find me?

donna

Sue St Clair said...

We've never been big spenders, and I learned to be thrifty from my Mom so our habits have not changed too much.