This is How Much The Average Canadian Will Spend This Holiday Season
PwC has released their 2017 Holiday Outlook report and determined that Canadian consumers will spend an average of $1,507 CAD this holiday season. The majority of the fifteen hundred will be spent on travel, gifts, and entertainment. The report outlines the fact that 80% of Canadians will spend the same or more than last year.
“Canadians are optimistic about the positive economic outlook and are confident about their spending habits. We can expect the biggest spending increase to come from Generation Z and millennial parents,” says Sonia Boisvert, Partner and National Retail and Consumer Leader at PwC Canada.
For most Canadians, the main concern for their dollars is the price. Price is still the main factor when it comes to purchasing gifts, followed by promotions and deals.
“When it comes to shopping this holiday season, Canadian consumers still believe that price is king and they are looking for convenience in terms of how they shop,” adds Boisvert. “The in-store experience is still important. Retailers need to make sure they have enough inventory in-store and online if they want to make the most of the busiest retail season of the year.”
The report also finds that close to half of consumers (46%) are planning to buy physical gifts such as apparel, toys, personal electronics and alcohol. By contrast, Canadians (42%) would like to receive gift cards this holiday season.