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Canadians Spend Their Extra Dollars on Entertainment, Travel and Dining Out in 2018

As the saying goes, “money can’t buy happiness,” and while the jury is still out on whether or not that’s true, the majority seem to agree that life isn’t about material items as 58% of Canadians value experiences more than things. New research from Mintel reveals that consumers are more likely to spend their discretionary dollars on experience-focused categories in 2018 as compared to a year ago, with entertainment (39% in 2018 vs 25% in 2017) and dining out (38% vs 30%) ranking as the top ways consumers spend their extra income. Rounding out the list of the top three ways consumers are spending their extra dollars this year is on travel (35%).

Although experiences are winning over consumers, debt reduction remains a priority. One third (33%) of consumers are putting their discretionary money toward...

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