Here's how some shoppers are adjusting their holiday spending this season
Inflation and the rising cost of living will have an impact on the holiday season — and some shoppers in Calgary are changing their habits while looking for gifts.
Hot on the heels of Black Friday and Cyber Monday deals, sales are expected to be the most important beacon for shoppers this season. Retail expert Bruce Winder says businesses not offering some savings could be missing out.
"Overall, the key headlines for the holidays are people are spending on sale, so if you're a retailer and you have great discounts, they might buy from you," he said. "If you're not offering those discounts, you're not going to get a lot of love from consumers."
Winder added e-commerce numbers have also been lagging and it could be a sign people are ready to head back to stores in person as COVID-19 restrictions are removed.
People will also be taking their time and making sure they get the best deal possible for whatever they may be looking for.
It's unlikely that big ticket items like expensive electronics will be flying off shelves, however the downside of price increases means if shoppers are trying to stick to smaller items, it could still work out to the same bill at the end of the holidays.
"Some people won't buy as much this year, they'll try to spend less but it's difficult because inflation is still around seven per cent as far as we know and people don't get as much for their money anymore," Winder said.
WATCH | Shoppers at Calgary's Chinook Centre explain their spending habits this year:
Keeping an eye out for bargains
Shoppers at Chinook Centre in Calgary are hungry for savings, and some are also adjusting their budget heavily compared to past years.
Tanya Bhatta is trying to put a personal touch on gifts this year, and said she feels it also has the potential to make the season more special for her loved ones.
"I have decided that I'm going to do more homemade gifts, but there's certain ones that I'm just giving, like my daughter, some extra essential stuff that they need throughout the year, but it's just because of the budget this year. It's more time doing homemade stuff, I believe homemade stuff is more cherishable and more memorable through the years to keep," she said.
Looking further ahead, Winder said Boxing Day shopping may also prove to be more popular this year and there may be shoppers holding out until those deals to make more significant purchases.
"I think you're going to see a little more activity because I think retailers are going to be left with inventory and they're going to be desperate to clear it out," he said.
"So you're probably going to see some pretty big Boxing week sales and I think consumers will respond to that."
