Canadian Retailer - Summer 2014 - 23
ECONOMIC OUTLOOK
UNSURE
ABOUT THE
FUTURE
Perspectives on finances, job prospects and the state of the economy has Canadian consumers spending cautiously.
A lack of confidence about
the future has Canadians
spending cautiously
BY ROBERT PRICE
AS CONSUMERS around the world become
more optimistic about the future, Canadians
are maintaining a cautious confidence about
their finances and job prospects.
New research into consumer behaviour
shows that global confidence has returned
to pre-recession levels, driven by optimistic Asia and U.S. markets. But in Canada, a
static view on the future has allowed nations
with surging consumer confidence to outpace Canada's in the first quarter of 2014.
"Canada is in a bit of a holding pattern,"
says Carman Allison, Vice-President of Consumer Insights, North America at Nielsen,
the company that ranks global consumer
confidence. "Other countries are more confident and moving up the ranks."
Canadians have a muted view on their personal finances, and are cautious about spending money. Their views on job prospects remain unchanged since previous studies, and
their cautious optimism is influencing how
they shop.
Strength in discount
The reluctance among Canadians to spend
has translated into an average growth of two
per cent on dollars spent in the retail industry,
according to additional research prepared by
Nielsen. Units sold are up about one per cent.
Where there is notable growth is in the
discount sector. While general retailers saw
barely any growth, discount formats saw
growth of about four per cent.
"That's not a new trend," Allison says.
"Discounters continue to win over consumer
share of wallet."
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23
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Canadian Retailer - Summer 2014
Table of Contents for the Digital Edition of Canadian Retailer - Summer 2014
Publisher's Desk
Retail Currents
Food for Thought: The State of Canadian Grocery
Driving Sales With Personalized Advertising
Come One, Come All
Unsure About the Future
Education Leading to Organic Growth
The Total Retail Package
Advertiser's Index
Retail Quick Tips
Canadian Retailer - Summer 2014 - cover1
Canadian Retailer - Summer 2014 - cover2
Canadian Retailer - Summer 2014 - 3
Canadian Retailer - Summer 2014 - Publisher's Desk
Canadian Retailer - Summer 2014 - 5
Canadian Retailer - Summer 2014 - Retail Currents
Canadian Retailer - Summer 2014 - 7
Canadian Retailer - Summer 2014 - 8
Canadian Retailer - Summer 2014 - 9
Canadian Retailer - Summer 2014 - Food for Thought: The State of Canadian Grocery
Canadian Retailer - Summer 2014 - 11
Canadian Retailer - Summer 2014 - 12
Canadian Retailer - Summer 2014 - 13
Canadian Retailer - Summer 2014 - 14
Canadian Retailer - Summer 2014 - 15
Canadian Retailer - Summer 2014 - Driving Sales With Personalized Advertising
Canadian Retailer - Summer 2014 - 17
Canadian Retailer - Summer 2014 - 18
Canadian Retailer - Summer 2014 - Come One, Come All
Canadian Retailer - Summer 2014 - 20
Canadian Retailer - Summer 2014 - 21
Canadian Retailer - Summer 2014 - 22
Canadian Retailer - Summer 2014 - Unsure About the Future
Canadian Retailer - Summer 2014 - 24
Canadian Retailer - Summer 2014 - 25
Canadian Retailer - Summer 2014 - Education Leading to Organic Growth
Canadian Retailer - Summer 2014 - 27
Canadian Retailer - Summer 2014 - 28
Canadian Retailer - Summer 2014 - 29
Canadian Retailer - Summer 2014 - The Total Retail Package
Canadian Retailer - Summer 2014 - 31
Canadian Retailer - Summer 2014 - 32
Canadian Retailer - Summer 2014 - 33
Canadian Retailer - Summer 2014 - 34
Canadian Retailer - Summer 2014 - 35
Canadian Retailer - Summer 2014 - 36
Canadian Retailer - Summer 2014 - Advertiser's Index
Canadian Retailer - Summer 2014 - Retail Quick Tips
Canadian Retailer - Summer 2014 - cover3
Canadian Retailer - Summer 2014 - cover4
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