Report finds consumer sentiment on the rise, shoppers spending more per trip
As the country's leading indicators show signs of improvement, Canadian consumers are also gradually gaining confidence, suggested the results of the latest Nielsen Economic Current.
While the number of Canadian households that believe the country is in a recession has declined by 3 percent since July to reach 82 percent in October, the number of respondents who expect the recession to be over in the next 12 months has declined by 1 percent to 32 percent.
In encouraging news for small business growth, consumer sentiment increased by 10 points between the first half of 2009 and the second half of the year, putting Canada 10 points higher than the U.S. in this measure.
Canadian small business retailers should also be happy to learn that consumers are continuing their recent trend of spending more per shopping trip, although they are shopping slightly less frequently.
The report also found that retailers are selling more promotional merchandise than standard, full-price merchandise, so small businesses are advised to adapt their business strategies accordingly.
