As consumers are wary of inflation and a tough job market, 81 per cent of consumers are considering cutting back on their spending in the next six months. That’s according to a survey by the accounting firm PwC Canada.

Canadians will spend 10 per cent less this holiday season compared to last year.

Younger consumers will tighten their purse strings even more, with Gen Z planning to slash spending by 35 per cent.

“This isn’t just about spending less; it’s about a fundamental shift towards conscious consumption, where every dollar must deliver tangible value and purpose,” said Elisa Swern, national retail and consumer Leader at PwC Canada, in a press release.

Concordia University economics professor Moshe Lander said a decline in expenses was to be expected this year, given the GST and H

See Full Page