How much will you be spending this holiday season on your partner, family, and friends? How will your organization be celebrating the holiday season? Are holiday parties and mixers important?
A stable economy
In a 2013 study by Deloittee, the firm stated that 6.5% of Canadians will be spending more than what they spent in 2012, 34.5% will decrease the amount they spent, while 59.1% will remain the same. In 2013 “83.4% of survey respondents said they believed the Canadian economy would remain stable or improve in the coming year, up slightly from 80% last year.” The essence of the study is that Canadians have more confidence in the economy resulting in the expectation of increased holiday spending in 2013.
Holiday spending on the rise
In a 2013 Accenture survey of 500 Americans, the firm stated that Americans will spend an average of $646US ($686.16CAN) during the holiday season in 2013, up 11% from 2012. Some of the conclusions this exhaustive study found was that American consumers are increasingly gifting gift cards over other choices, discounts heavily influence purchasing behaviour, a majority of consumers still use cash over credit cards, more Americans are spending more money in 2013 than 2012, and online shopping has increased.
Source: Accenture 2013 Holiday Spending
Holiday parties at the workplace
In a study by Bizbash and Seamless surveying over 1500 respondents, the report stated that holiday parties have a positive effect on office place morale. 75% of respondents believe that holiday parties build better friendships, 71% better office culture, 67% improved teambuilding, and 18% increased productivity.
Source: Bizbash and Seamless
How is your organization celebrating the holiday season? Will you be crossing the border with the intent to purchase gifts? Will you be spending more in 2013 than in 2012? Let me know in the comments below.