According to the seventh annual survey from the Retail Council of Canada (RCC) and Leger on spending trends around the holidays, Canadians are expected to make the most of the upcoming holiday season, despite facing financial pressures.
RCC and Leger found that the average holiday spending is expected to be around $972, which is up $74 or eight per cent from the 2023 holiday season.
Despite the increase in spending, 90 per cent of Canadians are trying to manage budgets and seek deals amid inflation and rising costs.
“Canadians are determined to celebrate, but they’re shopping more mindfully than ever,” said Diane J. Brisebois, President and CEO of RCC.
The survey also found that 71 per cent of Canadians are changing their shopping habits.
Canadians are reportedly facing mixed feelings when it comes to doing their holiday shopping online versus in person. According to the survey, 62 per cent of holiday shopping is expected to be done in stores, where as 38 per cent is expected to be done online.
Additionally, upcoming sale days like Black Friday have been marked as a key day for shopping by nearly half of those surveyed, which is up from 34 per cent of Canadians who did so in 2023.
The survey also found that those living in Ontario are expected to spend the most, averaging $1,158 during the holiday season, while also leading the charge for shopping online with 41 per cent of the holiday budget being spent virtually.
Albertans are expected to spend around $970, with 72 per cent of shoppers expected to cash in on Cyber Week deals.
The Atlantic provinces are expected to budget $904. The survey also found that Maritimers are the most loyal to big box companies.
British Columbians average holiday budget is expected to be just shy of $900. Those who were surveyed said they are likely to use flyers to make decisions regarding their holiday purchases.
Finally, Quebec is expected to average around $770, with many expected to focus on home entertaining (food and alcohol) over the holidays. The majority of Quebecers are expected to keep their budgets intact.
Leger and RRC surveyed 2,500 Canadians over 18 years old in various provinces.