Monday, September 1st16.7°C
22817
22916

Cheers, it's the holidays

Canadians are expected to raise their glasses many times this holiday season with alcohol sales on track to set a record high this month and also for 2012, says a new report.

The average Canadian adult will spend more than $85 on booze in December, which translates to about one bottle of spirits, three bottles of wine and 27 bottles of beer, according to the BMO Holiday "Spirits" report.

"If the strength we've seen so far persists through the holiday season, then the industry is on track for a very strong and probably a record year," BMO economist Aaron Goertzen said Friday.

Annual alcohol sales in Canada are expected to top $19 billion this year, about 38 per cent or $700 million higher than in 2011, he said.

By comparison, the retail sector as a whole is usually up 15 per cent to 20 per cent from holiday shopping, the report said.

Sales of spirits, wine and beer typically surge in December, making it the highest volume sales month, Goertzen said from Toronto.

"So we're looking for a jump of around 40 per cent compared to the annual average as people are hosting get togethers and purchasing gifts for family and friends and enjoying the holiday spirit," he said.

That increase will be about the same as last December, he added.

The report also said Quebecers have shown the most pronounced increase in holiday spending on alcohol, with sales rising about 65 per cent above average in December.

The Canadian Press


Read more Business News

22929


Recent Trending




Today's Market
S&P TSX15625.73+67.561
S&P CDNX1023.991.62
DJIA17098.4518.88
Nasdaq4580.271+22.577
S&P 5002003.37+6.63
CDN Dollar0.9179-0.0016
Gold1281.70-2.1001
Oil95.96+1.29
Lumber349.60+2.60
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.0750.00
Russel Metals36.48+0.09
Copper Mountain Mining2.93+0.02
Colorado Resources0.180.00
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.245-0.005

 



23057

FEATURED Property
1894997#55 321 N Cooper
$183,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...

_








Member of BC Press Council


22810