Owe, owe, owe: Where Canadians rank on wish lists and holiday spending

A seasonal graph from Amanda Shendruk

It’s Black Friday!

Though it has traditionally been an American “holiday,” during the past few years Canadian retailers have jumped on the discount day. And apparently we don’t mind: A recent CIBC poll conducted by Harris/Decima suggested that 9 per cent of Canadians plan to take advantage of the shopping savings.

Many Canadians will take advantage of the weekend discounts to get their Christmas shopping done—all $674 worth of gifts. That’s right, this year’s Bank of Montreal Christmas spending survey suggests we plan to drop almost $100 more than last year on presents (when each person shed $583 for their loved ones).

Despite worries about an upcoming fiscal cliff-induced recession, both Canadians and Americans plan to increase their Christmas spending. But what about the rest of the Western world?