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Canadians Reduce Debt Levels with Savvy Shopping Skills

January 20, 2014

Canadians are discovering new ways to save, according to digital coupon destination RetailMeNot.ca. The company says that instead of investing in saving schemes, the customers are doing their shopping smartly and saving money. In fact, the debt levels in Canada have come down considerably in 2013 because of this new awareness in shopping, claims the company.

Compared to 2012, 24 percent of Canadians reported having less debt in 2013. About 44 percent of the customers have cut down severely on frivolous shopping and even when they buy, they are buying items only when they are on sale. With all this money saved, they are making investments in bank or investing in other financial plans.

If 2013 seemed to be the year of smart shoppers in Canada, 2014 promises to be even smarter. Continuing from where they left in 2013, the Canadian customers are demanding more discounts. Many others are also demanding more options in online shopping which helps them avoid shipping costs.

Also, using smartphones to shop does not appear to be a happening trend in Canada, at least now. About 63 percent of the customers said they don’t have any plans to use a smartphone this year to shop. In fact, about 20 percent of customers said they do not even plan to use the internet for shopping purposes.

“Canadians are still lagging the U.S. and Europe when it comes to embracing mobile technology," says Josh Harding, vice president of global operations for RetailMeNot, Inc. "Smartphones are powerful tools for finding the discounts that are helping Canadians rein in their debt levels while still getting the items they want.”

Recently, the company published another survey where it stated that the trend of consumers checking a product online before actually buying it is increasing these days. This also means that brick-and-mortar retailers are finally getting the hang of e-commerce, the company said. 




Edited by Cassandra Tucker

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