Here's what Ontario experts say you need to know about the cost of the holidays
CTV
There is some optimism in the tea leaves this holiday season even as high prices and interest rates pinch the pockets of Ontarians – that’s the message from industry experts.
There is some optimism in the tea leaves this holiday season even as high prices and interest rates pinch the pockets of Ontarians – that’s the message from industry experts.
CTV News Toronto spoke to retail, travel, agriculture and food specialists to find out what consumers need to know as the advent calendar ticks down in days.
Here’s their insights and tips.
The retail industry is looking “cautiously optimistic” this holiday season, Lisa Hutcheson, Managing Partner of Toronto-based J.C. Williams Group, said.
In large part, she said that’s because consumers are spending differently than in previous years, taking advantage of deals and discounts.
She pointed to Black Friday and Cyber Monday results – up more than seven per cent and almost 10 per cent respectively – as a testament to this.
Customers are factoring in inflation when they look for deals, she added, with the Bank of Canada holding its key interest rate steady at five per cent on Wednesday.
