A new Interac survey shows nearly all – nine in 10 – Canadians say supporting local Canadian businesses is important to them. Only slightly less, eight in 10, agree that buying Canadian feels more important than it did last year, due to the trade tensions caused by the US.
"Amid the current climate of economic uncertainty and evolving tariff threats, Canadians are looking at their spending in a new light," Debbie Gamble, Interac’s group head, chief strategy and marketing officer, said in a statement.
"Our survey results confirm that Canadians are very intentionally exercising their spending power – choosing to support local businesses even if they may need to spend more to do so. This trend has emerged despite longstanding cost-of-living pressures and demonstrates a powerful commitment to local communities."
In fact, the ‘buy Canadian’ impulse is not weakened by pricier goods, with over half prepared to spend an extra $5 to buy a product locally. A third would pay $10 more.
Power of buying Canadian
Buying Canadian-made products is more than just a mantra for many. The sentiment is gaining momentum in lockstep with increased tensions regarding US trade and it’s making many of us think far more seriously about the origins of our purchases when we shop. Among the top motivations for choosing Canadian-made products are:
- Supporting the local economy (79%)
- Trust in Canadian quality standards (56%)
- Patriotism/Canadian pride (55%)
More than two thirds of Canadians polled believe the way they choose to spend their own money has a direct impact on their local community. Subsequently, 73% of Canadians see more value in spending their dollars on local or Canadian-made goods.
Another majority – eight in 10 Canadians – are likely to choose Canadian-made products over imported ones.
When it comes to which businesses deserve support, 82% of respondents to the survey said they prioritize micro and small businesses in their communities, while just under a quarter identified large international corporations.
Given the strong support for homegrown products, three quarters of Canadians believe local businesses are more important to their communities than online-only retailers.
Product clarity
Despite the surge in maple syrup-blooded patriotism, many respondents reported difficulties in determining where each product originated.
While seven in 10 Canadians polled actively look for products that are clearly Canadian-made, four in 10 find it difficult to verify where products are made before purchasing.
“Sixty-six cents of every dollar spent locally, stays locally. It benefits the business, their employees and the whole community,” Dan Kelly, president of the Canadian Federation of Independent Business, said.
Survey methodology
The survey was conducted by Hill & Knowlton from February 6 to 9, among a representative sample of 1,500 Canadians using Léger’s online panel.
This article Canada sees surge of support for buying localoriginally appeared on Money.ca
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