Six in Ten (60%) Canadians Keeping a Closer Eye on Monthly Expenditures

Toronto, ON - Six in ten (60%) Canadians are keeping a closer eye on their monthly expenditures, according to the findings of an Ipsos Reid poll conducted on behalf of RBC. As a result of the current economic climate, a majority (57%) of those watching their expenses more closely are considering making changes to their consumption habits, ranging from the brand of household cleaners they use to their banking services. Conversely, four in ten (40%) Canadians say that they have not made any changes to their spending behaviour.

Among the wide range of products and services that many are considering changing as a result of the recession are household cleaners (15%), clothing detergent (15%), landline telephone providers (14%), beauty services (14%), cellphone (13%) and cable provider (13%), brand of coffee (12%), banking services (10%) and even the brand of toothpaste they use (6%).

Thinking about the factors that might influence a decision to switch a product or service to another brand or provider, most say that `better value for money'(96%), `less cost without compromising quality'(96%) and `lower cost/fees' are `important(95%)'. Other important factors include a `set/predictable fee that does not change month to month' (93%), `better service' (92%), a `company with a solid reputation' (90%), an easy transfer process (78%) or `receiving something above and beyond the product or service' (73%).

In order to maximize their cash flow, a majority (56%) of Canadians have stopped buying non-essential items, while others are eating out less or bringing their lunch to work (44%), following a set monthly budget (27%), participating in an automatic savings plan (14%), reviewing their portfolio with an advisor (10%), or taking on a part-time job for extra cash (9%), the proportion of which increases to 15% among those aged 18 to 34.

These are some of the findings of poll conducted by Ipsos Reid from April 23 to 27, 2009. This online survey of 1,024 Canadians was conducted via the Ipsos I-Say Online Panel, Ipsos Reid's national online panel. The results of this poll are based on a sample where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual Canadian population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. Statistical margins of error are not applicable to online polls, however, an unweighted probability sample of this size, with a 100 per cent response rate, would have an estimated margin of error of 177 3.1 percentage points, 19 times out of 20, had the entire adult population of Canada been polled.

For more information on this news release, please contact:
Sean Simpson
Research Manager
Ipsos Reid
Public Affairs
(416) 572-4474
[email protected]

About Ipsos Reid
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.

To learn more, please visit www.ipsos.ca.

About Ipsos
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.

Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe.

Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999.

In 2008, Ipsos generated global revenues of e979.3 million ($1.34 billion U.S.). .).

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