Nov 17, 2023
Shoppers will spend more for the holidays to make loved ones happy
Sixty-one percent of Canadian holiday shoppers plan to expand their holiday budget to make the season more fulfilling for their loved ones this year, while the remaining 39 percent will prioritize saving money, says the ‘Canada Holiday Shopping Survey Report 2023’ by JLL.
The report shows that, despite inflation concerns, shoppers' average holiday budgets will increase by 16 percent from last year, with Canadians planning to spend an average of $1,049 on holiday related experiences, gifts, and merchandise combined in 2023.
Shopping centres dominate as the preferred method of shopping, with 95 percent of holiday shoppers planning to visit them an average of three times. Shoppers also reveal a preference for physical stores over online shopping, with big box and discount stores remaining highly popular. However, deal-hunters tend to favor e-commerce platforms, with Amazon topping the list of preferred retailers in Canada.
In terms of social media use for shopping decisions, YouTube, Facebook, and Instagram are the most popular platforms among Canadian shoppers.
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