Retail Council of Canada (RCC), in partnership with Leger 360, has unveiled the RCC X Leger 2024 Holiday Shopping Survey, which shows that shoppers across Canada are determined to make the most of the season despite financial pressures.
With average holiday spending expected to hit $972 – up $74 (+8%) from last year – 90% of Canadians are carefully managing their budgets and actively seeking out deals amid ongoing inflation and rising costs,” said the report.
“Despite inflation, 75% of Canadians plan to maintain or up their holiday budgets, driven by higher disposable incomes and more family members to shop for. However, they’re more strategic: 71% are adjusting gift-giving habits, buying fewer gifts, and zeroing in on the best deals.”
“Canadians are determined to celebrate, but they’re shopping more mindfully than ever,” said Diane J. Brisebois, President and CEO of RCC.
Key Findings: Savvy Shopping on the Rise
- Inflation’s Impact: 71% of Canadians are adapting their shopping habits due to inflation, focusing on sales, budgeting, and earlier planning—a slight uptick from last year.
- Black Friday’s Clout: Black Friday reigns supreme, with 48% marking it as the most important shopping day. More Canadians are holding off for deals, with 38% delaying purchases until peak sale times, up from 34% in 2023.
- In-Store vs. Online: Canadians are divided between in-store (62%) and online (38%) shopping, loving the tactile in-store experience but also drawn to the convenience and deals found online.
- Where the Money’s Going: Spending is focused on clothing and holiday home entertaining (food, alcohol), each grabbing 16% of the budget. Gift cards are also big, with 42% opting for them as a flexible gift option.
Regional Highlights: Spending Trends Across Canada
- Ontario: Spending $1,158 on average, Ontarians lead in online shopping, with 41% of their budget spent digitally.
- Alberta: Budgeting $970, Albertans lean into online shopping for décor and food and are big on Cyber Week, with 72% keen on the deals.
- British Columbia: Spending $893 on average, BC favors in-store shopping, using flyers (39%) as a key planning tool.
- Atlantic Canada: Spending $904 on average, these shoppers are the most loyal to big box retailers, allocating 27% of their holiday budget.
- Quebec: Budgeting $770 on average, focusing on home entertaining. Steady spenders, with 59% keeping budgets intact.
The complete survey is available exclusively for members. RCC members can access the full survey on the Retail Council of Canada website.
On October 23, 2024, from 1-2pm ET, RCC will host an online Retail Holiday Shopping Webinar. Leger will discuss the survey’s pivotal findings, providing insights for retailers to refine their holiday strategies. Moneris will highlight how customer and industry payment data can facilitate better business decisions during the holiday peak. Register here for this FREE event.
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