Nearly one in three Canadians plan to cut holiday spending

Nearly one-third of Canadians plan to spend less on gifts and entertaining this holiday season as persistent inflation and living costs squeeze household budgets. CTV's Kimberley Johnson speaks with retail analyst Bruce Winder, who explains that consumers are actively searching for sales, buying store brands, thrifting and agreeing to spend less per person. Deloitte Canada's holiday retail outlook indicates the average seasonal budget has dropped to $1,300, with spending on dining out, alcohol and travel experiencing the steepest cutbacks.

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