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Rising Costs Changing Consumer Habits

By Evan Taylor Dec 5, 2022 | 2:54 PM

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A new poll from Narrative Research (NR) shows as prices for everyday goods and services continue to rise consumers are changing their behavior.

According to NR in the past 3 months, 84 per cent of Canadian consumers have made at least one change to their purchasing habits.

The most common way Canadians are trying to save is simply by buying less and going without, with 50 per cent of survey respondents saying they have cut back in one way or another.

Canadians are also trying to shop local more often and buy in bulk when it makes financial sense to do so.

NR Polling Data showing the changes to purchasing habits Canadians are trying to save money. Photo: NR.

NR conducted a similar poll three months prior to this one, which originally showed Canadians were changing their purchasing habits to cope with rising costs and the poll released today shows most of those changes are becoming more common.

The one technique for saving money which did not increase in the most recent months was growing your own food (down three per cent), which makes sense logically as the Summer growing season has come to an end.

The poll also found that the cohort most likely to have undertaken changes are renters who earn less the $60K. Interestingly, those who buy in bulk, buy second hand/trade with others, and grow their own food are more likely to include younger Canadians.

Results are from a survey conducted in partnership between Narrative Research and the Logit Group. The survey was conducted online between November 8 and 11, 2022 with 1,243 Canadians, 18 years of age or older from the Logit Group’s Canadian Omnibus. Data were weighted based on the 2016 Census, by gender, age, and region to reflect actual population distribution.



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