Canadians to Spend More This Holiday, But Spending Mindfully: Retail Council of Canada x Leger 2024 Holiday Shopping Survey
TORONTO, Oct. 18, 2024 /CNW/ - Retail Council of Canada (RCC), in partnership with Leger 360, unveils the RCC X Leger 2024 Holiday Shopping Survey, showing 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.
Top Insight: Spending More, Spending Smart
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," says 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.
Download the Full Survey
The complete survey is available exclusively for members. RCC members can access the full survey on the Retail Council of Canada website.
Media interested in the full report should contact Santo Ligotti at [email protected].
Attend a FREE Webinar on the Survey's Findings
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.
About the RCC X Leger Holiday Shopping Survey:
This extensive survey, the largest of its kind in Canada, conducted for the Retail Council of Canada by Leger, marks the 7th annual exploration into Canadians' attitudes and behaviors as the festive shopping season nears. While retaining the essence of previous surveys, this edition delves deeper, aiming to decode the nuances of consumer gift-buying choices. Conducted in 3 waves (June 14-17, Aug 5 - 23, 2023, and September 23 - October 1, 2024) in both official languages, the survey encompasses a representative national sample of 2,500 Canadians aged 18 and over.
About Leger:
Leger is the largest Canadian-owned polling, marketing research and analytics firm, with over 600 employees in Canada and the United States. Established in 1986, Leger also owns LEO, an online panel, LEA, Leger Analytics, and Leger DGTL, a digital performance agency. For more information: leger360.com .
About Retail Council of Canada
Retail is Canada's largest private-sector employer with over 2.3 million Canadians working in our industry. This sector is a major economic contributor, generating more than $93 billion annually in wages and employee benefits. In 2023, core retail sales (excluding vehicles and gasoline) exceeded $502 billion. Retail Council of Canada (RCC) members account for more than two-thirds of these core retail sales and 95 per cent of the grocery market. Our membership extends across the country, embracing over 54,000 storefronts in diverse formats such as department, grocery, specialty, discount, independent retailers, online merchants, and quick service restaurants. As the Voice of Retail™ in Canada, RCC, a not-for-profit, industry-funded association, proudly represents retail businesses of all sizes, from small independents to large national chains, in communities nationwide.
Contact
Santo Ligotti, VP Marketing & Membership
[email protected]
SOURCE Retail Council of Canada
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