Four-In-Ten Canadians Plan To Pay More Attention To Their Holiday Spending Budget This Year, Than Last
When shopping during the holiday season nearly three quarters (74%) say that they always know what's in their account. One quarter (26%) say it's hard to keep track during the holiday season.
Over half of Canadians (57%) say that they are pleased that they stayed on budget when they review their credit card bills and account statements in January (after the holiday shopping season). Another one-in-five (22%) are glad to see that they spent less than anticipated. One-in-five are surprised that they spent so much (21%).
Just under three-in-ten (28%) said "yes" they would find it helpful to receive emails or alerts on their phone or mobile device to let them know if they've gone over budget for the month.
Over one third of Canadians (37%) say they would find it easier to stay on budget if they could check their credit card and account balances on their phone or mobile while out shopping, if they had the technology.
Among the Canadians we surveyed 20% have a Smartphone such as a Blackberry, iPhone, Android etc. While out shopping Smartphone users have used their Smartphones for multiple tasks that are related to their shopping trip. For example:
- 45% say they take pictures of merchandise while out shopping
- 41% use it to find store locations
- 24% use it to comparison shop for a better price
- 20% use it to check their account balances
- 40% use their Smartphone for miscellaneous other things.
Paying attention to holiday spending budgets.
- Regionally Atlantic Canadians are proportionally less likely to pay more attention to holiday spending budgets (29%) than are British Columbians (49%) and Quebecers (46%). Instead they plan to spend about the same as last year (53%). The areas with the greatest proportion of the happy-go-lucky types are Saskatchewan and Manitoba (23%) and Ontario (20%) versus Quebecers (10%).
Three quarters always know what's in their account during the holiday season; one quarter do not.
- Younger people are less adept at keeping track (43% of those aged 18-34 lose track versus 22% aged 35 to 54 and 22% of those aged 55+).
- One-in-three Smartphone users (35%) say they find it harder to keep track during the holiday than do non-Smartphone users (24%).
- Regionally, the centre of Canada finds it harder to keep track of what they have in their accounts than do Albertans. (30% Sask/Man, 29% Ontario, 25% Quebec versus 14% Alberta).
- The presence of kids makes it hard to keep track with fully 42% of households with kids saying it's hard to keep track versus 24% of households without kids.
Over half are pleased to see their holiday spending come in on budget in January, 22% spend less than planned and only one-in-five are surprised at how much they've spent when doing their January review of credit card bills and account statements.
- With age comes better budget control. Younger Canadians are more likely to express surprise that they spent so much (34% of 18-34 year olds versus 18% of those aged 35 to 54 and 13% of those aged 55 plus) while the proportion who are pleased they stay on budget increases with age from 52% of those aged 18-34 to 62% of those aged 55 plus. The proportion who are glad to see they spent less than anticipated increases from 14% of those age 18 to 84 to 25% for those aged 35 and over.
- There are no significant regional differences.
"Alert: You've gone over budget for the month!"
- The proportion saying "yes" declines as age increases from 47% of those aged 18 to 34 to 23% of those aged 35 to 54 to 19% of those aged 55+.
- Just over four-in-ten Smartphone users (42%) said "yes" versus 25% of non-Smartphone users.
- Regionally, Ontarians are more likely than Quebecers to say "yes" (32% versus 23% respectively).
Using mobile technology to make it easier to check credit card and account balances.
- Nearly half (49%) of Smartphone users said "yes". This was significantly greater than the 34% of non-Smartphone users.
- The proportion who answered "yes" declined as age increased from 54% of those aged 18-34 to 35% of those aged 35 to 54 to 25% of those aged 55+.
- There are no significant regional differences.
Smartphone ownership..
- Ownership of Smartphones declines as age increases from 35% of those aged 18 to 34 to 17% of those aged 35 to 54 to 11% of those aged 55 plus.
- Albertans are more likely than Quebecers to have a Smartphone (28% vs. 9%) as are Ontarians (26%).
Smartphone Users Use their Phones for shopping, while shopping
- There is a clear age split with those 18-34 significantly more likely than the older age groups to engage in all of the activities on their Smartphones whilst shopping(comparison shopping, take pictures of merchandise, find store locations, check account balances)
- There are no significant differences by region.
These are some of the findings of an Ipsos Reid /CIBC poll conducted from November 26th to 28th, 2010. For this survey, a sample of 1,049 Canadians from 18 to 65 + years of age, from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and 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. With a sample of this size, the results are considered accurate to within 177 3 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were weighted to ensure the sample's regional and age/sex composition reflects that of the actual Canadian population according to the 2006 Census data.
For more information on this news release, please contact:
Sean Simpson
Senior Research Manager
Ipsos Reid
Public Affairs
(416) 572-4474
[email protected]
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Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
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