Consumer Finances and Priorities - Canada - August 2016
“Canadians are somewhat pessimistic about economic conditions and concerned about food inflation and employment but the housing market is not a national concern”.
– Sanjay Sharma, Senior Financial Services Analyst
This report discusses the following key topics:
- Consumer confidence is middling at best
- Real estate and housing market values are not national concerns
- A quarter of Canadians are living from pay cheque to pay cheque
- Saving for retirement is the top long term priority; vacation, credit card debt and emergency funds are the top three short-term priorities
As the Canadian economy adjusts to lower commodity prices, the economy continues to grow at a slow pace. There are still lingering concerns about food inflation and employment prospects for young Canadians. Also, house prices in the hot markets of Vancouver and Toronto have been climbing at an unsustainable clip. According to economists, house prices in these two cities have outpaced local economic fundamentals such as job creation, immigration and income growth.
This report delves into the personal finance lives of Canadians. We explore issues related to consumer confidence, what Canadians think about the national and local economy, their financial situation, spending and shopping habits and financial priorities and consumer confidence. We look at how the demographic groups differ in their attitudes and levels of financial preparedness and the ways in which Canadians are reacting to the economy. As families face the crunch of multiple priorities, we examine their shopping habits and spending behaviour. The report also looks at consumer attitudes towards the housing market and housing affordability.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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