Thursday, October 2nd6.8°C
22738
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




Recent Trending




Today's Market
S&P TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.8976+0.002
Gold1210.80-4.70
Oil87.45-1.66
Lumber344.10+6.30
Natural Gas4.028+0.005

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 





FEATURED Property
20883412161 Campbell Place
4 bedrooms 2 baths
$875,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


An income investment you may have overlooked

Investors seeking income often limit their selection to bonds and give little or no consideration to preferred shares. They usually ignore preferreds simply because they don't know much about them...


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...

_








Member of BC Press Council


22771