Saturday, April 19th0.4°C
21427
21135

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

21297


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.90720.00
Gold1293.80-9.2999
Oil104.59+0.83
Lumber326.10-2.70
Natural Gas4.735+0.205

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 



20880

FEATURED Property
14673344408 28 Street
2 bedrooms 1 baths
$10
more details
image2image2image2
Click here to feature your property
Please wait... loading


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...

_



21637

21637


Member of BC Press Council


21202