Three in Ten (31%) Canadians Spent More Than Intended This Holiday Season; Overspent by an Average of $463

Toronto, ON - While most Canadians kept their holiday spending in check, a sizeable portion of Canadians spent more than intended during the holiday season, according to a new poll conducted by Ipsos Reid on behalf of RBC. Seven in ten (69%) Canadians did not spend more than they intended this holiday season, unchanged from a year ago, compared to three in ten (31%) who say they overspent, also unchanged from this time last year. The following table highlights both national and regional figures of how many Canadians kept within budget as well as those who overspent and the differences compared to last year:

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Among Canadians that did overspend, the amount overspent by was consistent compared to those who overspent last year. Canadians that overspent this holiday season did so, on average, by $463, down slightly from $467 from the previous year. Regionally, Atlantic Canadians ($534) overspent by the most, while Quebecers ($402) overspent by the least. The following table highlights the national and regional amounts Canadians overspent by, including any differences from the previous year:

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Many Canadians who overspent this holiday season say they will cut back on a range of expenses and luxuries in order to help them get back on track. Canadians say the top cut back will be their day to day living expenses, such as groceries, phone, and cable (43%), followed closely by entertainment (41%) and using their credit card (38%). Three in ten (32%) will cut back on their lunch and coffee money, while two in ten (15%) plan to cut back on using their line of credit. One in ten (12%) have no idea where to start cutting back, while 4% won't cut back and won't get back on track. Canadians who kept their spending in check, however, used a variety of strategies to help them stick to their holiday budgets. Four in ten (41%) Canadians who did not overspend this holiday season say they didn't want to go into debt or increase their debt load, while three in ten kept track of their spending by making a budget and sticking to it (31%) or knew how much they had to spend and once the money was gone that was it (28%). One in ten either had a savings goal in mind that they wanted to reach and always kept that goal in mind (13%) or used some other kind of strategy to help them stick to their budget (11%).

These are some of the findings of an Ipsos Reid poll conducted between January 2nd to 14th, 2013 on behalf of RBC. For this survey, a sample of 3,150 Canadian adults (aged 18 and over) from Ipsos' Canadian 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 +/- 2 percentage points had all Canadians adults been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Sean Simpson
Associate Vice President
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 an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of Synovate. The combination forms the world's third largest market research company.

With offices in 84 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.

Ipsos researchers 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 and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of e1,363 billion (1.897 billion USD) in 2011.

Visit www.ipsos-na.com to learn more about Ipsos' offerings and capabilities.