Online shopping is taking over the holidays

Many Canadians are arming themselves with their smart devices and plastic

TORONTO, ON, October 21, 2016 – Gone are the days when your mobile phone was simply used – just as a phone. Now our phones are so much more. They are the gateway to online shopping, encouraging you to go on a charging spree with your credit shopping

This holiday season, Canadians are expected to rack up thousands of dollars using their smart devices. Last year Canadians broke online shopping records during the holidays and spending as a whole increased by 20 per cent compared to the same time period in 2014. A recent survey by suggests consumers may be on track to break more records this holiday shopping season too. The survey says 58 per cent of mobile shoppers report their level of online spending has increased overall this year in comparison to the same time period from last year.  So who is doing most of the spending? Millennials and the affluent are leading the charge. And discovered half of millennials in the last 12 months made a purchase using their smart device and their preferred purchases are:

  • Entertainment (music, movies, books – 55 per cent)
  • Clothing and accessories (54 per cent)
  • Electronics (51 per cent)
  • Cosmetics, health and beauty (32 per cent)

“Canadians are embracing the convenience of shopping online in many ways however the danger lies when consumers do not put in place certain checks and balances to minimize overspending on their credit card,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada.

“It is easy to get caught up in the moment especially when you see an unbelievable deal online however if you do not pay off that deal when your credit card bill arrives, it will cost you more as the days and weeks go by,” says Schwartz.

Online shopping is a convenient way to avoid long line ups and you do not have to worry about someone grabbing the last item off the shelf right before your eyes. However if you do not have a game plan for how to manage your online purchases you could end up suffering from a major debt hangover in the new year.  To help Canadians keep their online spending at a manageable limit, offers the following tips:

  1. Make a list and check it twice! Write down the names of all of the people you have to buy gifts for this holiday season, resist the urge to add everyone under the sun. You can take this one step further and add a dollar value to each name. Keep this list right beside you as you shop online!
  2. Stay in your lane. Resist the urge to over spend by setting a realistic budget for all of your holiday shopping-not just gifts. Keep track of your online spending with a budgeting app.
  3. Put it away. Now is the perfect time to put some money away for your holiday shopping. Every paycheque set aside some funds towards your holiday shopping. When you start your online shopping, you’ll be glad you have the money available to put back on your credit card when you’re done.
  4. Dare to compare. Shop around to find the best deals online and stretch your dollars further. RedFlagDeals is a good site showing consumers where to find the best deals.
  5. Take it off! Create a plan to pay your entire credit card balance within a month to avoid high interest rate charges. When you don’t pay off your online purchases in a timely manner – that’s when your online purchase goes from a deal to a burden.


About Consolidated Credit Counseling Services of Canada, Inc.:

Consolidated Credit Counseling Services of Canada is a national non-profit credit counselling organization that teaches consumers about personal finance.

For more information or to request an interview with Jeffrey Schwartz, please contact:

Natasha Carr, Community and Public Relations Manager, Consolidated Credit Counseling Services of Canada, Inc., T: 416-915-7283 ext.1041, C: 416-830-4720, F: 416-915-5200, E: [email protected]

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