Young Canadians look to splurge on gifts this holiday season, cut other costs

Young Canadians feeling the pinch of inflation want to splurge on holiday gifts for loved ones — so they're cutting back on other festive costs instead.

Despite the high cost of living, retail experts say the younger generations are the most likely to splurge on presents this year.

"They're really looking forward to treating their loved ones as well as actually treating themselves," said Suzana Colic, a retail consultant with Accenture Canada.

To accommodate the extra spending, already-tight budgets likely need to be reviewed.