May 22, 2015


Young Canadians selective when they splurge, study finds

MONTREAL -- Younger Canadians spend more on luxury travel and fashion than any other demographic, but selectively choose what they splurge on, says American Express Canada.

Generation Y -- which include those born after 1983 -- had an 89 per cent increase in luxury travel spending and a 13 per cent increase in luxury fashion spending in 2012 compared with 2011, say data from the credit card company.

A survey by American Express found younger Canadians spend more on luxury travel and fashion.


A survey by American Express found younger Canadians spend more on luxury travel and fashion.

They could be spending more money because they are just starting their careers, but they target their luxury spending, said Jennifer Hawkins, vice-president and general manger for merchant services with the company.

"For example, they may choose to fly economy, but when they arrive at a holiday destination they really put money aside for things such as fine dining or a fantastic hotel experience," she said.

The credit card company looked at members' spending on luxury fashion, travel and lodging, ranging from purchases of designer clothing to vehicles.

According to the data, seniors -- those over 60 -- increased their spending on luxury travel by 52 per cent in 2012.

While luxury travel is growing faster than luxury fashion and lodging, Hawkins said all age groups were selectively spending on luxury purchases that are "meaningful" to them.

American Express Canada said luxury spending is expected to continue to grow in Canada, helped by the arrival of luxury U.S. retailers such as Saks. It expects online spending in general to double by 2015 to $12.5 billion.

A recent online poll by the Bank of Montreal found Canadians were planning to save almost $10,000 this year, but 66 per cent said they were tucking the money away for vacations, luxury items and entertainment.


-- The Canadian Press

Republished from the Winnipeg Free Press print edition July 31, 2013 B6

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective January 2015.

Winnipeg Free Press | @WinnipegNews

May 22 5:02 pm

Republicans' "big-wig" hypocrisy

Winnipeg Free Press | @WinnipegNews

May 22 4:46 pm

Story-telling and gay rights

Winnipeg Free Press | @WinnipegNews

May 22 4:12 pm

Police seek missing 15-year-old girl

Winnipeg Free Press | @WinnipegNews

May 22 4:02 pm

Prosecutors seek 8-year sentence for deadly stabbing

Mike McIntyre | @mikeoncrime

May 22 3:50 pm

“You caused us great suffering and sorrow. Every day I feel the loss of my precious son,” victim's mother, Lavana Gentray, told court.

Scroll down to load more