Consumer Pulse Q1 2021

Despite continued struggles and looming headwinds, Canadians are feeling somewhat more optimistic about their futures as new vaccines emerge and more government subsidies are announced. 

As the Canadian economy rebounds with increased activity, just over a third of Canadians are struggling with financial hardship brought on by the pandemic, and 32% expect they could be impacted at some point in the future. 

Survey respondents are relatively upbeat and resilient. Almost 60% indicated they’re not concerned with their ability to pay current bills and loans in full, and more than half said they can make those payments for at least the next one to three months. 

There’s a slight shift in attitude toward savings and credit with 96% of respondents seeing savings as important for unexpected events or financial setbacks. As well, 91% of households consider access to credit important to achieving financial goals, with 19% considering it extremely important.