Due to the current economic downturn, Canadians manifest a tendency towards relying less on their credit cards and more on making cash payments for daily essentials. Data from the survey thus indicates that the average Canadian is to spend around USD 475 (CAD 571) on gifts this year, compared to USD 552 (CAD 663) in 2007. Also, 70 percent of Canadian shoppers are to pay for their holiday purchases using debit cards or cash, while 29 percent of shoppers are to use credit cards to pay for their purchases. In 2007, credit cards were used by 33 percent of Canadians.
The data comes from Canadian Retail consultancy company Maritz Research.
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