Warmer Weather Has Canadians' Wallets 'Springing' Open

RetailMeNot.ca survey reveals spending increases as temperatures rise

TORONTO, March 19, 2015 /CNW/ -- After a harsh winter, spring getaways and wardrobe updates are top of mind for many Canadians, however rising temperatures may lead to increased spending. According to a recent survey by digital offers site RetailMeNot.ca, 74 per cent of Canadians agree that people tend to spend more as the weather gets warmer. In fact, survey respondents plan to spend an average of $1,270 on travel expenses, $1,160 on home improvements, $632 on food and entertainment and $222 on new clothing and shoes between March and June!

Nearly half of Canadians (49 per cent) plan to get away this spring after the cold winter, but 61 per cent agree that the hidden costs of travelling, such as transportation fees and new clothing, eat into their budgets. When it comes to booking a spring vacation, Canadians are most likely to purchase from cost-comparison websites like Expedia.ca or Travelocity.ca (17 per cent), yet only 1 per cent of Canadians will search for coupons to get travel discounts.

"Whether you're planning a vacation or exploring activities in your hometown, don't get burned by paying full price," says Kristen Nelson, communications manager for RetailMeNot, Inc. "To save on airfare, experts suggest booking about six weeks prior to travel for the lowest fare. Also, search for coupons to save on everything from travel-booking sites and car rentals to updating your wardrobe or home for warmer weather."

With gas prices about 27 per cent lower than in 20141, the most popular type of spring vacation for Canadians this year is a road trip. In fact, 60 per cent of survey respondents agree that they are more likely to travel by car when gas prices are low.

Other survey findings include:

  • Freezing February: 56 per cent of Atlantic residents and 51 per cent of Ontarians look to travel after the coldest February in 115 years2;
  • J'aime patio season: Come springtime, Quebec residents plan to spend the most on entertainment and food ($891);
  • Costly staycations: 46 per cent of the country agrees staycations are less affordable than they used to be;
  • Better than a stress ball: Thirty-three per cent of Canadians travel because it allows them to get away from the stress of everyday life;
  • All-inclusive dilemma: Fifty-three per cent of Canadians agree that an all-inclusive vacation tends to be cheaper, but 44 per cent prefer more choice.

RetailMeNot.ca regularly conducts consumer behavior surveys to examine the buying habits of Canadians. To save on spring travel and clothing, visit RetailMeNot.ca and sign up for the deals newsletter.

About the survey:
An online survey was conducted by Angus Reid from February 27 to February 28, 2015, among 1,515 randomly selected Canadian adults. The margin of error is +/- 2.5%, 19 times out of 20. The results have been statistically weighted by education, age, gender, region and language Census data.

About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended December 31, 2014, RetailMeNot, Inc. experienced nearly 700 million visits to its websites, and during the three months ended December 31, 2014, monthly mobile unique visitors totaled 21.2 million. In 2014, RetailMeNot, Inc. estimates $4.4 billion in paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. The RetailMeNot, Inc. portfolio includes RetailMeNot.com, the largest digital offer marketplace in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk, the largest digital offers marketplace in the United Kingdom; Deals.com in Germany; Actiepagina.nl, a leading digital offers site in the Netherlands; Bons-de-Reduction.com and Ma-Reduc.com, leading digital offers sites in France; Poulpeo.com, a leading digital offers site with cash back in France; and Deals2Buy.com, a leading digital offers site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com.

For interview requests or more information please contact:

Erin Banting
Citizen Relations
416 934 8422 office
416 414 8637 mobile
erin.banting@citizenrelations.com

                                                                                                    

1 Rob Carrick, "Cheap gas got you eyeing a road trip? See Canada but skip the U.S.," The Globe and Mail, January 2015, http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/time-to-invest-in-a-canadian-road-trip/article22685954/
2 CTV Ottawa, "February 2015 coldest in 115 years,"ctvnews.ca, March 2015, http://ottawa.ctvnews.ca/february-2015-coldest-in-115-years-1.2257188 

Logo - http://photos.prnewswire.com/prnh/20130626/DA38415LOGO

 

SOURCE RetailMeNot, Inc.


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