Canadians financially concerned amid economic uncertainty ahead of Prom season - Is Tip Top the answer?

Tip Top continues its longstanding tradition of delivering style and value for students' most memorable occasion.

VAUGHAN, ON, May 15, 2025 /CNW/ - Every prom season brings new possibilities and opportunities to explore trends, colours and accessories as highschoolers celebrate one of life's memorable moments. Choosing the right look is top of mind for many students and parents, but finding the perfect prom suit shouldn't break the bank. As Canadians are prioritizing local brands, leading Canadian menswear retailer, Tip Top, is continuing its commitment to supporting Canadians with a combination of affordable, value-driven and convenient prom shopping experiences - making Tip Top the go-to destination for prom season 2025. 

What Canadians are looking for 

With 20+ suit colours, cuts and accessories and more than 1000 style combinations available at Tip Top, prom-goers looking to spend less than $300 can create their own stylish combinations all for $279. Prom-goers can get pants for free when they purchase any jacket, and for only $20.25, students can get a dress shirt and tie to match. 

"Prom is all about expressing your unique personality, and we want every student to feel confident and comfortable in their suit," says Tiffany Braund, Vice President of Merchandising at Tip Top. "With a full colour roll of accessories, suit styles and sizes, we're proud to make the suiting process easy and affordable, ensuring that everyone finds the perfect fit to celebrate their prom moments, perfectly dressed, and with confidence."

With many parents and students feeling the economic strain, balancing budget considerations and the desire for a stylish suit, affordability continues to be one of the top factors driving purchasing decisions. Tip Top research* found more than four in five (88 per cent) Canadians agree that affordable pricing for high-quality suits is crucial when choosing where to shop for prom formalwear. In fact, majority of Canadians (65 per cent) believe a reasonable price for prom formalwear should be less than $400, while Tip Top research found that the average reasonable price for prom formalwear among Canadians is $280.  

Additional Survey Findings Include:

• 41 per cent of Canadians feel that $300 and under is a reasonable price for a prom suit.
• 39 per cent of Canadians believe that buying a suit that can be worn multiple times offers the best value when considering formalwear for prom, compared to renting a suit.
• More than half (62 per cent) of Canadians say that the ability to own a suit rather than rent is an important factor in their decision-making

Elevated Shopping Convenience & Variety

Convenience is another major factor influencing consumer choices. The survey found that 51 per cent of Canadians value the ability to shop for prom suits both in-store and online. Tip Top offers both options, allowing customers to browse and purchase from the comfort of their homes or visit one of their 85 stores for expert tailoring and personalized service.

Eighty-three per cent of Canadians also emphasized the importance of having a variety of colours and styles to choose from when selecting prom formalwear.

"Prom is a special occasion, but it doesn't have to come with a hefty price tag to parents," says Tiffany Braund. "The perfect prom suit starts at your local Tip Top store and fits your body, budget and most importantly, your style. Tip Top also offers in-store services including bundle pricing, tailoring services and much more – customers can own a suit for less than a rental. We understand that students and families want high-quality suits that don't cost an arm and a leg, and we've worked hard to offer a wide range of affordable options that don't compromise on style and quality."

To buy or not to buy? 

Beyond cost, Canadians are prioritizing long-term value when making prom formalwear decisions. While one in five Canadians (21 per cent) remain unsure on the best approach to purchasing prom formalwear – renting vs. buying – more than half (62 per cent) of Canadians agree that the ability to own a suit rather than renting is an important consideration.

From classic black tuxedos to bold, modern designs. Tip Top is committed to delivering high-quality, affordable, and stylish prom suits that meet the needs of today's students. With a commitment to affordability, convenience, and variety, Tip Top remains the top choice for Canadians looking to make their prom night truly unforgettable.

For more information on Tip Top's prom collection and to shop online or find a store near you, visit tiptop.ca.

*These findings are from a survey conducted by Tip Top from February 27^th to March 3^rd, 2025, among a representative sample of 1,510 online Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.53 percentage points, 19 times out of 20.

About Tip Top | Tailors since 1909

For over 116 years, Tip Top has been providing Canadians with quality menswear at incredible value. With over 85 stores across the country and tiptop.ca, Tip Top is the destination for event solutions and allows men to have Perfect Moments Perfectly Dressed. There for life's special milestones, from proms to weddings and all the events in between, Tip Top carries a wide range of styles in both formal and casual wear. At its core, Tip Top is fully focused on fit – fitting men's bodies, budgets, and styles – to give them the confidence they get when they look and feel great.

For more information or to request an interview, please contact: 

Christine Dyal
Strategic Objectives
[email protected]
437-916-9194

SOURCE Grafton Apparel Ltd.