[Survey] $444: Canadians' average budget for gifts this Christmas 2022

With the holiday season fast approaching, inflation is weighing more than ever on household budgets across Canada. We conducted a survey of 821 Canadians from November 11 to 30, 2022 how their purchasing behaviour would change this year given general price increases.

50.8% of Canadians say they want to spend less this year for Christmas

We asked Canadians "How much are you willing to spend this year on your Christmas gifts?" to measure their purchase intentions. While 37.3% say they plan to spend roughly the same amount as last year, 50.8% of them say they want to spend less.

Following the answers we collected, the average budget allocated by Canadians for Christmas gifts is $444.60 per family. We noticed big differences between the different provinces:

• In Ontario, the average Christmas gift budget is around $503 per family - $490 in BC
• On the other hand, in Quebec, families project "only" $390 on average for their Christmas gifts this year
• In Alberta, families will spend on average $446.70 for their Christmas gifts - close to the national average.

72.5% of Canadians say inflation will impact their purchases for Christmas

72.5% of Canadians answered "yes" to the question "Will inflation have an impact on your Christmas purchases this year?". This is a sign that inflation will weigh heavily on purchasing behaviour. We observed this trend across Canada's most populous provinces:

• Alberta and Ontario are the provinces where most people say the inflation will impact their purchases for Christmas, at 74% and 75.6%, respectively.
• That feeling appears to be also spread across Quebec (for 67.1% of our respondents) and BC (66.2%) - although to a lesser extent than in the rest of the country.

31.4% of Canadians will offer fewer gifts for Christmas because of the inflation

Following our previous questions, we asked people what behaviour they would adopt (or not) to face inflation this year as the holiday season approaches. It appears that only 19.2% of Canadians do not plan to change their buying habits. For the rest of our respondents:

• 31.4% of Canadians say they plan to give fewer gifts for Christmas this year
• 32.7% of our respondents consider giving less expensive gifts
• 5.7% of our compatriots could opt for second-hand gifts
• Finally, 11% of Canadians will consider travelling less for the holidays to save money.

Our methodology

In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.

This survey was conducted from November 11 to 30, 2022 on the HelloSafe platform in Canada. A total of 821 people responded, representative of the demographic and geographic diversity of the province.

About HelloSafe Canada

HelloSafe is Canada's leading platform for comparing insurance and personal financial products. HelloSafe provides Canadians with hundreds of free, anonymous and quick comparison tools and calculators built on powerful proprietary technology. Up-to-date content from experts accompanies all our comparison tools. Our platform empowers you to make the best decisions with your money and find the right products at the right price.

For all press enquiries, please contact :

Nolwenn Abolivier
Press relations officer for HelloSafe in Canada