Economy

BRAUN: Will senior spending boost a post-COVID economy? – Toronto Sun

Published

4 years ago

February 7, 2021

Washington, D.C. marketing consultant Anne Jardine agreed with some of Bloomberg’s forecasts for senior travel, particularly with pent-up demand; however, she also predicted an important change in decision-making.

“I think there will be be a collective, ‘eat, drink and be merry — for tomorrow we may die,’ attitude, and the market will be much more emotional than rational in just about everything,” she said.

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“So travel might take on more of an aspect of spending lavishly on family gatherings, meeting up with long-lost friends — the people being more important than the location — retreats to cure the PTSD of the last year, trips of a lifetime that have been put off for too long.”

The nuts and bolts of it all will look the same, said Jardine.

“But it will be very different below the surface. Seniors will drive with their hearts and if the marketers have it right, that is what will fuel the surge,” she said.

Jardine disagreed with the idea that once vaccinated, seniors will feel free to travel freely again. They won’t actually feel safe until everyone else is vaccinated, too — including the younger generation that has willingly stayed locked down to protect the vulnerable.

“I think that seniors will continue to be very selective about with whom they travel, the size of the travel group, and whether they trust the travel company has responsibly vetted the group.”

As for the seniors’ market in general, Craig Patterson, CEO of Retail Insider, agreed that the demographic is often ignored.

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

17 hours ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

24 hours ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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