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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian Imperial Bank of Commerce | TSX:CM | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.61 | 0.94% | 65.37 | 65.25 | 65.43 | 65.41 | 64.75 | 64.83 | 1,830,324 | 21:14:57 |
So far Canadians have spent more than predicted; procrastinators are at greater risk of going over budget, finds fourth annual CIBC holiday poll
TORONTO, Dec. 19, 2014 /CNW/ - A new CIBC (TSX: CM) (NYSE: CM) poll completed December 14th finds that as we start the final shopping weekend before the holidays, 64 per cent of Canadians have not yet finished their holiday shopping. Holiday shoppers are also spending more than predicted - a poll conducted in November found Canadians planned to spend an average of $517, while the current poll shows average spending at $678 so far with a weekend of holiday shopping yet to go.
Key findings of the poll include:
"Our poll shows the value of planning ahead when it comes to your holiday shopping, as those who are already finished were also less likely to overspend" says Steve Tyers, Vice President, Card Product Management, CIBC. "Those rushing around in busy stores looking for gifts with the clock ticking may be more likely to go over budget, in an effort to get everyone checked off their holiday gift-giving list."
Younger Canadians, central provinces further behind than others
Canadians aged 18-34 are the biggest procrastinators, with 71 per cent saying they have not finished their shopping. Canadians aged 55 and over are the best prepared for the holidays, with only 55 per cent saying they need to hit the malls this weekend.
Across the country, the Prairies and Ontario are the furthest behind, with 73 per cent and 67 per cent yet to complete their shopping. The furthest ahead are the Atlantic region and Quebec, with 58 per cent and 59 per cent who still need to finish their shopping.
CIBC offers these tips to manage your holiday expenses:
KEY POLL FINDINGS
Percentage of Canadians who have not finished their holiday shopping, by region:
National | 64% |
BC | 63% |
Alberta | 60% |
Man/Sask | 73% |
Ontario | 67% |
Quebec | 59% |
Atlantic Canada | 58% |
Percentage of Canadians who have not finished their holiday shopping, by age:
National | 64% |
18-34 year olds | 71% |
35-54 year olds | 66% |
55+ year olds | 55% |
Percentage of Canadians who have not finished their holiday shopping, by gender:
National | 64% |
Men | 63% |
Women | 64% |
How much Canadians think they have spent on holiday shopping so far this year, by region:
National | $678 |
BC | $730 |
Alberta | $754 |
Man/Sask | $595 |
Ontario | $630 |
Quebec | $716 |
Atlantic Canada | $657 |
How Canadians' spending compares to their set holiday budgets:
Finished shopping | Not finished shopping | |
On budget | 57% | 45% |
Under budget | 8% | 7% |
Over budget | 10% | 19% |
Don't know / lost track | 4% | 3% |
Didn't set a budget | 21% | 25% |
From December 12th to 14th 2014, an online survey was conducted among 1,507 randomly selected Canadian adults who are Angus Reid Forum panelists. The margin of error—which measures sampling variability—is +/- 2.53%, 19 times out of 20. The results have been statistically weighted according to education, age, gender and region (and in Quebec language) Census data to ensure a sample representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.
About CIBC
CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.
SOURCE CIBC
Copyright 2014 Canada NewsWire
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