Buying Used at Christmas
Last week we took a look at the HST and asked you how it would affect your holiday shopping, and while many of us agree that we’ll be spending less, the HST isn’t the only contributing factor. A lack of job security and lingering debt from an economic downturn, among other influences, are changing the way we spend our time and money over the Christmas period. In 2009, according to the CBC, Canadians spent 0.4% more than the year prior, which took a 3.9% dive. Analysts predict that it will be a slow and bumpy recovery. “The consumer is being very restrained. They’re closely planning their spending and continue to reduce their shopping trips,” according to James Russo, vice president of consumer insights at Nielson.
More evidence that those buying gifts are spending less comes from a recent RBC survey, which found that Canadians plan to spend almost $100 less than last year, capping our average spending off at a total of $624. So what does this mean for you and me? If we all plan to shop on a budget, will we buy less or will we shop differently? The used goods market isn’t the first stop for most consumers during the holidays, but that may not always be the case. What’s your take, have you ever bought, or entertained the idea, of buying used?