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Canadians increase Halloween budgets as spooky spending rises
The Retail Council of Canada report reveals that over 80% of those gearing up for Halloween plan to either maintain or boost their spending this year.
Daniel Tsai, a Business Professor at the University of Toronto, pointed out that this trend suggests a potential decrease in Christmas spending.
He elaborated that while Halloween is generally a festive occasion, particularly for children and party-goers, it tends to be less expensive, making it easier for families to indulge without worrying too much about the upcoming holiday costs.
Tsai explained that even though the Bank of Canada announced lower interest rates this week, consumers won’t see the benefits for another six months.