AMEX TRENDEX REVEALS MEANINGFUL EXPERIENCES INSPIRE CANADIAN'S SOCIAL, GIFTING & TRAVEL PLANS THIS HOLIDAY SEASON

AMEX TRENDEX REVEALS MEANINGFUL EXPERIENCES INSPIRE CANADIAN’S SOCIAL, GIFTING & TRAVEL PLANS THIS HOLIDAY SEASON (CNW Group/American Express Canada)

TORONTO, Sept. 16, 2024 /CNW/ - American Express Canada today released an Amex Trendex^* on social, gifting, and travel trends for the upcoming holiday season.

Canadian specific data reveals the country desires a holiday season with meaningful experiences. This includes plans to gift loved ones an experience over something material, looking to in-person events over dating apps for romantic connection, and an eagerness to travel to be with family or take time to focus on themselves.

An overview of the Amex Trendex findings is below:

Many Are Embracing Meaningful Social Connections

• Many Canadians plan to attend entertainment events this holiday season, with the most popular being:
  • Going to or hosting a holiday party or gathering (61%).
  • Visiting holiday festivals or markets (40%).
  • Taking in holiday shows and performances (29%).
• When it comes to holiday gatherings, 17% of Canadians plan to host or co-host more compared to previous years.
• About a fifth (18%) of Canadians currently dating or open to dating say they typically date more during the holiday season than other times of the year, with three quarters (75%) of all respondents believing it to be a romantic time of year.

Sentimental and Experiential Gifting are Top Priority

• Nearly 4-in-10 Canadians buying for a significant other (40%) or children (37%) plan to gift them an experience.
  • This increases with a gift exchange between friends, with 73% preferring to share a fun experience or trip over a traditional exchange.
  • Top experiential gifts include entertainment (62%), travel (50%) and food and drink (48%) related experiences.
• Canadians are eager to begin shopping for loved ones this holiday season, with 19% having already started, increasing to 69% reporting they will start by November.
  • And when it comes to gifting, Canadians are generous compared to global counterparts, with plans to spend $567.01 on their children (3^rd highest) and $679.89 on family members (5^th highest).
• When it comes to gifting, 57% of Canadians actively seek out small businesses when purchasing holiday gifts.
• On the receiving end, most Canadians prefer to receive sentimental gifts (69%), gifts from a small business (64%) or live experiences (67%) over physical gifts.

Holiday Travel to Be with Family or Enjoy a Destination is on the Rise

• Nearly three-quarters (73%) of Canadians travelling this holiday season are prioritizing it more than in previous years. But consensus is split on their travel plans:
  • Over half plan to travel to visit family for the holidays (58%).
  • Over half of Canadians report focusing on themselves this holiday season (57%) with 43% taking a trip elsewhere, outside of visiting family for the holidays.
• Among those not travelling, 37% have family or friends visiting them.
• Unlike those eager to begin holiday shopping, only 1-in-5 (20%) of Canadians have already booked their trip.

WHAT IS THE AMEX TRENDEX?

The Amex Trendex is a trend index that tracks how consumers, small businesses, and retailers are feeling about spending, saving, traveling and more. The survey does not represent Amex customer spending data or trends.

AMEX TRENDEX METHODOLOGY

^*This poll was conducted by a third party on behalf of American Express between June 21 – July 17, 2024 among a sample of: 2002 US Adults, 1009 Japan Adults, 1006 Singapore Adults, 1004 UK Adults, 1003 Australia Adults, 1002 Germany Adults, 1002 Italy Adults, 1002 Mexico Adults, 1001 India Adults, 1001 Spain Adults, 1000 Canada Adults, 1000 France Adults and 501 Hong Kong Adults, who have at least a $50k+ income equivalent and typically travel at least once a year. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 2-4 percentage points. Some geographies may be weighted with fewer variables depending on local census data availability.

For the Canadian market, the holiday season is defined as the time between November 2024 and January 2025. 

SOURCE American Express Canada

MEDIA CONTACT: Maddie Geddes, [email protected]