Canadians Ready To Celebrate Holiday Season

Canadians’ seasonal spirit is proving resilient, says Deloitte Canada’s ‘2021 Holiday Retail Outlook.’ After a tough 18 months weathering the challenges of the COVID-19 pandemic, this year’s holiday outlook finds many Canadians are looking to celebrate, shop, and spoil friends and family. While it should come as no surprise that Canadians are looking to bounce back after last year’s dampened holiday season, overall spending in 2021 is expected to rise a whopping 31 per cent since 2020 and up eight per cent since pre-COVID levels in 2019. Additionally, one in three Canadians feel their financial situation has improved over the past year, so holiday spending in 2021 is even expected to surpass pre-pandemic levels. Likewise, nearly half (46 per cent) of Canadians are planning to increase their holiday spending in an effort to spoil friends and family. Overall, Canadians plan to spend an estimated $1,841 on the holidays, compared to $1,405 last year and $1,706 in 2019. Deloitte Canada says consumers are now seeking a ‘frictionless’ experience and they are drawn to bricks-and-mortar retailers less out of holiday magic, but to avoid shipping costs (56 per cent), interact with a product (55 per cent), and facilitate easier returns (43 per cent). Above all, Canadians crave convenience, with 44 per cent of shoppers planning to get what they need for the holiday season in one trip and another 38 per cent preferring one-stop shops. Likewise, consumers aren’t inclined to linger, with 44 per cent looking to limit their browsing to get in and out of stores as quickly as possible.