Toronto, ON – Four in ten (41%) Albertans intend to spend less (19% a lot/ 22% somewhat less) on gifts this holiday season, compared to just 11% who intend to spend more (2% a lot/8% somewhat more), according to a new Ipsos poll conducted on behalf of ATB Financial. Half (48%) anticipate spending about the same amount of money on gifts this year as last year. This suggest an overall decline in holiday spending in Alberta this year.
Those whose households earn less than $40,000 a year (44%) or from $40K to just less than $60K (46%) are most likely to tighten their purse strings this holiday season, while those earning $60K to just less than $100K (38%) or $100K+ are less likely (38%) to say they’ll rein in their spending.
Among those who will reduce their holiday spending, most (84%) ‘agree’ (51% strongly/33% somewhat) that they’re doing so ‘because of the economic downturn’, while jut 16% ‘disagree’ (7% strongly/9% somewhat) that the reason they’re reducing their spending is due to economic conditions. Those with kids (91%) are more likely than those without kids (80%) to agree that the economy is the culprit.
Most Albertans Staying Close to Home This Holiday Season as only 31% Will Travel
One in three (31%) Albertans says they’ll travel this holiday season, led by those in Calgary (34%) and Edmonton (35%). Those who intend to travel will head to other parts of Canada (35%), the United States (28%), Mexico (9%), Europe (4%), or some other place (11%). However, three in ten (27%) travellers will stay close to home, within the confines of the Alberta border.
Most (69%) Albertans though won’t be traveling this holiday season. Among those who won’t, six in ten (58%) ‘agree’ (30% strongly/28% somewhat) that the reason they won’t be traveling this year is ‘because of the economic downturn’, while just four in ten (42%) ‘disagree’ (22% strongly/19% somewhat), suggesting there is some other non-economic reason why they’ve chosen to stay home this holiday season.
Those earning less than $40,000 in household income are most likely (70%) to say the reason they’re not traveling is the economy, and Albertans aged 35-54 (68%) are also more likely than the average Albertan to say this is the case.
These are some of the findings of an Ipsos poll conducted between Nov 1 and 7, 2016, on behalf of ATB Financial. For this survey, a sample of 802 Albertans from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±4 percentage points, 19 times out of 20, had all Albertan adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
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