Consumer Pulse Wave 11

50% of Canadian consumers surveyed indicate their household is negatively impacted by COVID-19. Of those who say they aren’t impacted, 53% don’t expect to be in the future. 

39% of respondents indicate their household finances are worse than planned. 62% of impacted respondents indicate they can continue to pay their bills and loans for at least a month or longer. The average amount that respondents say they will be short monthly is $875, down 5% from the last survey and the lowest since September. 

Most consumers indicate they will continue to curb discretionary spending to help preserve cash flow. 48% of households plan to spend less on holiday gifts than in prior years. 19% indicate they plan to spend a lot less. Only 12% say they plan to spend more. 

With vaccines on the horizon and the announcement of additional government subsidies, Canadians are feeling somewhat more optimistic about the future.