A survey by Mintel found that 40 per cent are positive about their financial situation this year, up from 36 per cent in 2016. The proportion planning to pay down debt was similar to last year at 33 per cent compared to 32 per cent.
“A slight improvement in perceived financial health means that consumers have a little more wiggle room this year when it comes to discretionary spending, indicating that continued proof of value, be it in the form of quality or simultaneously meeting multiple needs, will continue to play a role in consumer spending decisions,” said Carol Wong-Li, Senior Lifestyles and Leisure Analyst at Mintel.
The annual Lifestyles Report also reveals that 73 per cent of respondents say they are proud to be living in Canada.
More market update:
Canadians are more likely to say that their finances are healthy in 2017 than they did last year.