Welcome!

News Feed Item

The Last-Minute Club: BMO Report Shows More Canadians Got a Head Start on Holiday Shopping

- BMO Holiday Spending Survey shows consumers are better prepared for holiday shopping now than in 2011, with most planning weeks or months in advance

TORONTO, ONTARIO -- (Marketwire) -- 12/22/12 -- According to the BMO Holiday Spending Survey, fewer Canadians are waiting until the last minute to cross names off of their holiday shopping list, with the majority planning their shopping weeks or months in advance (26 per cent and 68 per cent respectively).

However, three per cent don't begin their holiday shopping until the last minute, leaving themselves only a short time to wrap up their gift giving.

"With Canadian families balancing busier schedules more than ever before, it's no surprise that a few shoppers will be rushing around at the last-minute. However, this last-minute rush can often cause people to make impulse decisions and sometimes over-spend on gift buying," said Janet Peddigrew, Vice President, BMO Bank of Montreal. "Planning and establishing a budget early on to cap and track holiday spending can help avoid last-minute spending pitfalls."

Ms. Peddigrew added that online banking features, including tools such as BMOMoneyLogic(TM), allow Canadians to set spending limits and get immediate insights into whether or not they are staying on track.

BMO Bank of Montreal offers the following Do's and Don'ts for the frantic, time-crunched holiday shopper:

Don't Panic - You still have time to get everything done. Keep your shopping list handy at all times and try to pick up one or two items when you can - either during your lunch hour or after work. A call ahead to the retailer can confirm whether or not your item is in stock. Ask them to hold it for you so you can get in and out of the store quickly.

Do Check Return Policies - Don't forget to check the retailer's return policy before making a purchase. Knowing the return policy can help ease the stress of last-minute shopping and help safeguard against the consequences of making impulse gift purchases.

Don't get Scrooged when you Shop Online - Shopping online can save you time and money, but stick to reputable sites and beware of sites you don't know. Pay close attention to shipping dates and build in extra delivery time so you won't be disappointed. For added protection, consider purchasing your gifts with a credit card that offers some form of insurance, which will cover you if gifts you buy get lost, stolen or broken.

Do Cap your Spending - Develop a budget and stick to it. The pressure of last minute shopping can cause shoppers to make impulse decisions and often spend more than necessary. Set a budget for each family member and ask them to make a list of gifts that fall within the allotted amount, which will help you set a realistic expectation and ensure you don't over-spend.

Do Take Advantage of Store Sales and Coupons - Overpaying is overspending. The one upside for last-minute shoppers is that retailers are often anxious to clear their inventory before December 25th; watch for significant sales. Many retailers will discount their merchandise from 20 per cent to 50 per cent, or more. Take the time to comparison shop and look for store sales to ensure you're getting the best price.

Do Use a Credit Card and Debit Card that Rewards you for your Purchases - Use a debit or credit card affiliated with a loyalty program to earn rewards for purchases at retailers. The BMO AIR MILES bank account or BMO AIR MILES World credit card allows you to accelerate rewards earnings and significantly enhance the value of every dollar spent by allowing you to "double dip" - essentially earning rewards twice on the same purchase when you use your Collector Card along with one of these forms of payment at AIR MILES Sponsor locations.

For more details on BMO MoneyLogic, visit www.bmo.com/moneylogic, and for more details on how to save, borrow and spend smartly, visit www.bmo.com/smartsteps.

The survey results cited in the 2012 BMO Holiday Spending Outlook conducted by Pollara are compiled from a random sample of 1,000 Canadians 18 years of age and over between October 11 and October 16, 2012. A probability sample of this size would yield results accurate to +/- 3.1 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

Contacts:
Media Contacts:
Matt Duffin, Toronto
(416) 867-3996
[email protected]

Lise Lapointe, Montreal
(514) 877-7251
[email protected]

Laurie Grant, Vancouver
(604) 665-7596
[email protected]

Internet: www.bmo.com
Twitter: @BMOmedia

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...