BDC survey conforms with recent Statistics Canada retail data.
Canadians are buying less either because inflation is crimping their pocketbooks or because they don't want their purchases to use precious resources and then wind up in landfills and hurt the environment, according to a BDC survey released today.
"They may be saying that because they're not buying, and they're coming up with a reason," he said "It's a real factor, but it's not the driving factor." BDC had Angus Reid Institute compile its annual survey, and it found that the three biggest trends were that:• Customers have high expectations and want an easy satisfying buying experience; and,Generation Z consumers, born between 1997 and 2005, were the ones most likely to say that they are buying less for economic reasons, according to the BDC report.
Those in the Baby Boomer category, born between 1946 and 1964, were more likely than other age groups to agree with the concept that they are buying less for environmental reasons. More than two-thirds said they prefer to live simply, even if it means having fewer possessions or a smaller home. One explanation for this is that they are at a point in their lives where they are downsizing their possessions, according to the report.
Herschel Supply Co., which BIV reported yesterday has parted ways with former CEO Jon Hoerauf, said its business shake-up was driven by a desire to shift to selling more products directly to consumers. The company operates 13 stores in North America as well as dozens more though partnerships in Asia and Europe. It also sells directly to customers online.
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