KAWARTHA LAKES-The Retail Council of Canada’s (RCC) 5th annual RCC X Leger Holiday Shopping Survey of over 2,500 Canadians from coast-to-coast highlights that Black Friday and Cyber Monday will continue to be busy both in-store and online with consumers looking for more deals and to get back into the holiday spirit.
Despite being concerned about inflation and other financial matters, consumers are eager to return to their holiday traditions but when, how, and who they will buy for, is changing according to the council. Officials say the current financial strains are being felt by 6 in 10 Canadians, yet overall, Canadians plan to spend about the same amount as they anticipated spending in 2021.
While 8 in 10 consumers intend to buy gifts for others this year, 62% say their gift-giving habits have changed over the years, with the main reason being that they are looking to buy more meaningful gifts for fewer people. 6 in 10 consumers will look for more deals this year than in previous years, and many will consider a wider assortment of retailers to ensure they find the best gifts at the best prices. Nearly half of Canadians also say they will shop at various discount retailers this holiday season.
Although concerns over supply chain delays and potential disruption from new waves of COVID still linger, our survey identified that retailers with lower prices, discounts/special offers, and free shipping will appeal to 81% of consumers.
- More Canadians are planning to take advantage of deals, holiday sales, and promotions and have started to shop earlier to take full advantage of the best deals and pricing.
- 35% of consumers plan to begin their 2022 holiday shopping in November.
- 28% plan to shop on Black Friday and 21% plan to shop on Cyber Monday.
- Holiday spending intentions are the same as last year
- Canadians nationally are planning to spend $790.
- The split in spending between in-store shopping and online will continue to follow the pattern that was established during the pandemic.
- 63% in 2022 of total purchases are expected to be in-store this year and 37% in 2022 will be online.
- Supporting local retailers continues to be important to Canadians.
- 74% feel it is important to shop locally, and 42% plan to shop at local retailers this year.
- Product categories that Canadians will spend the most on have shifted with the anticipation of more in-person gatherings. Food, beverage and food service retailers and restaurants are making the most gains.
- Top categories are food, alcohol, candies, or sweets for entertaining, clothing, food & beverage services and toys.
Retail is Canada’s largest private-sector employer with over 2 million Canadians working in the industry. The sector annually generates over $78 billion in total compensation.