Canadians to spend big on holidays, return to shopping malls, surveys say
Global News
Canadians are upbeat heading into the holidays as the return of celebrations, a waning pandemic, robust savings and low unemployment are expected to bolster consumer confidence and spending, according to several new retail surveys released ahead of the busiest shopping season of the year. Accenture Canada’s 2021 Holiday Shopping Survey released Thursday found “adults with...
Canadians are upbeat heading into the holidays as the return of celebrations, a waning pandemic, robust savings and low unemployment are expected to bolster consumer confidence and spending, according to several new retail surveys released ahead of the busiest shopping season of the year.
Accenture Canada’s 2021 Holiday Shopping Survey released Thursday found “adults with kids who believe in Santa” are expected to spend the most this season, followed by parents in general and Baby Boomers.
“There’s a real generosity of spirit,” said Suzana Colic, a retail consulting leader at Accenture Canada. “More consumers will be spending more this holiday season.”
Canadians will spend an average of $635 in 2021, an increase of $119 or more than 23 per cent compared with 2020, Accenture found.
Deloitte Canada’s 2021 Holiday Retail Outlook suggested spending could be even higher. The report found Canadians are expected to spend an estimated $1,841 on the holidays, an increase of 31 per cent compared with 2020 and eight per cent above 2019.
With larger budgets and declining pandemic concerns, shoppers are expected to make a big return to malls and brick-and-mortar stores, JLL Canada’s 2021 Retail Holiday Survey said.
It found 85 per cent of consumers will return to shopping centres, with curbside pickup remaining popular among “intentional buyers.”
The survey also said Canadians are expected to spend 11 per cent more on gifts, while spending on holiday-related merchandise will jump 15 per cent.
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