Lethbridge business owners prepare for more meager holiday shopping season
Stores in Lethbridge are beginning to see more customers as Christmas gets closer.
While the holiday shopping season can be hectic and chaotic, small business owners look forward to it.
"We have a lot of major holidays through the year, but Christmas is certainly the one that puts money in the pocket for a small business," said Colin Howe, co-owner of How Sweet Inc., a local candy shop.
However, what's usually the happiest time of year for retail owners is shaping up to be less jolly than usual.
Multiple factors including inflation, a higher cost of living and higher interest rates are expected to prompt many people to cut back on their holiday spending.
According to Deloitte Canada's 2023 holiday retail outlook, Christmas spending could reach a five year low.
The report suggests that Canadians plan to spend an average of more than $1,300 on holiday shopping this year, down 11 per cent from 2022.
"People are definitely feeling the pinch, there's no doubt about it," said Hunter Heggie, president and owner of King of Trade, a local electronics store.
"It's tighter these days and shopping patterns have changed. Online shopping is a lot more prevalent these days."
It's not just business owners in Lethbridge who are concerned; according to the downtown Lethbridge Business Revitalization Zone (BRZ), it could be a blue Christmas for retail across the country.
BRZ executive director Sarah Amies says people seemingly have to rein in their Christmas shopping this year.
"What that means is that people are being really careful about what they’re are purchasing."
Lethbridge's business community is asking residents to consider shopping local this holiday season.
"Supporting local is really just one of the best things you can do," Heggie said. "Because your dollars are staying in the community and that's such a big thing. All the employees here are local, we're local and it's a big factor for our local economy."
CTVNews.ca Top Stories
Canadian among three climbers missing on New Zealand's highest peak
A Canadian is among three climbers missing after they'd planned to climb New Zealand's highest peak.
Five years after toddler's brutal death, Northern Ont. family struggles to find peace, justice
A North Bay family is struggling to find peace and justice as the five-year anniversary of the brutal death of toddler Oliver McCarthy approaches.
Ontario dad removes hockey rink at heart of neighbour dispute
A Markham dad who drew the ire of neighbours and the city after installing a hockey rink in his backyard says the rink has now been taken down.
Alberta RCMP officer charged with 2 counts of sexual assault
Const. Bridget Morla, a Leduc RCMP officer, has been charged with two counts of sexual assault in connection with an incident that happened two years ago.
Hannah Kobayashi declared a voluntary missing person after video shows her crossing into Mexico, police say
Hannah Kobayashi, the Hawaii woman who's been missing for more than three weeks after arriving in Los Angeles on a flight from Maui, has been declared a voluntary missing person, Los Angeles police said Monday.
Ontario woman 'shocked' after unused $250 gift card only contained $1.50
An Ontario woman was 'shocked' to find out her unused $250 gift card was almost completely drained.
Belly fat linked to signs of Alzheimer’s 20 years before symptoms begin, study says
As the size of a person’s belly grows, the memory centre of their brain shrinks and beta amyloid and tau may appear — all of this occurring as early as a person’s 40s and 50s, well before any cognitive decline is apparent, according to new research.
Chef, whose van was stolen with 2,500 pies inside, urges thieves to donate the loot
A British chef has urged thieves who stole a van with 2,500 savory pies inside to “do the right thing” and donate the edible loot to the needy.
Trump demands immediate release of Oct. 7 hostages, says otherwise there will be 'HELL TO PAY'
President-elect Donald Trump is demanding the immediate release of Israeli hostages still being held in Gaza, saying that if they are not freed before he is sworn into office for a second term there will be 'HELL TO PAY.'