Canadians are changing the way they shop this holiday season, with some saying they will spend less while others say they have already shopped early to avoid possible price hikes from tariffs, a recent survey by the Bank of Montreal (BMO) indicates.
The poll released on Nov. 14 said that 61 percent of Canadians have adjusted their holiday spending plans this year due to concerns about tariffs, and 41 percent are planning to cut back on spending amid concerns about the rising cost of living. One quarter (25 percent) of the respondents said they started buying gifts and other holiday items earlier this year to avoid potential price increases due to tariffs.
