Consumers Boost Spending in Year-End Purchases, Reflecting Positive Trends
Based on the latest TD Spend data, consumers noticeably increased their spending, likely influenced by holiday festivities and warmer weather, with a 0.7% average monthly growth in the last quarter of the year.
Despite variances in composition and timing of data collection, TD Spend serves as a reliable indicator of broader spending trends. Projections indicate potential quarterly annualized growth of over 4% in retail sales for Q4 2023, yet the year-on-year increase remains below 3%, marking the smallest holiday sales gain since the pandemic. Adjusted for seasonality, goods spending, notably driven by e-commerce and holiday-related purchases like clothing and food, contributed significantly to overall spending growth, alongside a rise in miscellaneous store shopping.
However, home-related purchases did not follow the expected trend of increased spending despite a surge in home sales, possibly due to consumer caution amid persistently high inflation rates. These insights, drawn from TD Spend data, provide valuable perspectives on evolving consumer behaviors and market dynamics.
Discover 9 Budget-Friendly Tips for Sustainable Eating and a Greener Future
As many individuals grapple with the dual challenges of a rising cost of living and increasing climate change impacts, such as erratic temperatures and extreme weather events, it’s comforting to learn that adopting certain practices to trim grocery expenses can also curb food waste.
Here are some key strategies to guide your purchasing, storage, and meal preparation with sustainability in mind:
Buying Food:
Stick to Your List: Craft a shopping list before heading to the store to avoid purchasing more than necessary, reducing the likelihood of food spoiling unused in your kitchen.
Embrace Imperfections: Opt for imperfect produce, often sold at a discount, to prevent these perfectly nutritious items from ending up in landfills while also saving money.
Explore Discount Apps: Utilize apps or programs that offer discounted foods from nearby retailers, allowing you to experiment with new ingredients at affordable prices while combating food waste.
Storing Food:
Prioritize Perishables: Place perishable items at the front of your fridge or pantry to ensure they’re consumed before they spoil.
Utilize Your Freezer: Extend the lifespan of foods by freezing them for later use, labeling containers with the item and date to track freshness.
Preparing Food:
Consume Fresh First: Use perishable items like berries or spinach before heartier options, such as apples or potatoes, to minimize waste.
Revamp Leftovers: Transform leftover ingredients into new dishes like quiches, stir-fries, or soups to create tasty meals while reducing food waste.
Minimizing Waste:
Leverage Composting: Instead of discarding unavoidable food waste, utilize community compost programs or start composting at home to nourish your garden and reduce the need for store-bought fertilizers.
Freeze Compostables: Freeze food scraps to prevent odors and expedite the composting process, further minimizing waste and environmental impact.
By implementing these practical tips, you not only save money on groceries but also contribute to a more sustainable future for yourself, your community, and the planet.
Find more information at canada.ca/eating-for-the-future.
