Xin Ou
Research expert covering Greater China
Holiday season shopping in Canada - statistics & facts
The holiday season is considered the busiest time of year for retailers, with a surge in trade typically commencing around Black Friday, the day following Thanksgiving (in the United States), leading all the way up to Christmas. Although Thanksgiving takes place over a month earlier in Canada, the American shopping tradition that is Black Friday has become ubiquitous over the years, with consumers across the globe eager to find a bargain.
In 2022 and 2023 especially, shoppers considered rising prices for goods and services, not just in Canada, but in many other countries around the world. These high rates of inflation have led to a higher number of hesitant and financially struggling consumers. In 2023, some three-quarters of surveyed Canadians said it would make it more difficult for them to buy gifts during the holidays.
Be that as it may, things may be looking up in 2024, as consumers planned to spend more on the holidays than they had expected to spend in 2023.
Holiday shopping in Canada: online or offline?
When asked which channels they would use to do most of their 2024 holiday shopping, answers truly depended on when. Before (Canadian) Thanksgiving, as well as during Black Friday and Cyber Monday, holiday shopping online was more likely for the majority of Canadians. What is interesting however, is that Canadians would flip the script after Black Friday weekend, with approximately 60 percent of respondents saying they intended to shop primarily in-store at this point in time. In other words, most consumers would start shopping online and finish by shopping offline over the course of the season.Seasonal spending in Canada
During and leading up to the holidays, consumers around the world and in Canada tend to spend a little more than usual. However, how much one spends does typically depend on a number of factors. Interestingly, there are noticeable differences in expenditure per generation: during 2024's holiday season, Canadians of Gen Z and Y were predicted to spend over 2,000 Canadian dollars on average, while Gen X and baby boomers were projected to spend far less per capita.In 2022 and 2023 especially, shoppers considered rising prices for goods and services, not just in Canada, but in many other countries around the world. These high rates of inflation have led to a higher number of hesitant and financially struggling consumers. In 2023, some three-quarters of surveyed Canadians said it would make it more difficult for them to buy gifts during the holidays.
Be that as it may, things may be looking up in 2024, as consumers planned to spend more on the holidays than they had expected to spend in 2023.
