D. Tighe
Research expert covering consumer behavior, sporting goods retail, and the global toy industry.
Holiday season shopping in Canada - statistics & facts
The holiday season is considered the busiest time of year for the retail sector, with a surge in trade typically commencing around Black Friday, the day following Thanksgiving (in the United States), leading all the way up to Christmas. Deemed an American shopping tradition, annual Black Friday and Cyber Monday sales have also gained popularity in other countries such as Canada over the years, with consumers eager to find a bargain.
Another factor shoppers have had to consider in 2023 (as well as 2022) was the unfortunate spike in inflation recorded in Canada as well as many other countries around the world. Such a high rate of inflation leads to a higher number of hesitant and financially struggling consumers. In fact, some three-quarters of surveyed Canadians said it would make it more difficult for them to buy gifts during the holidays.
Seasonal spending in Canada
During and leading up to the holidays, consumers around the world and in Canada tend to spend a little more than usual. However, how much one spends does typically depend on a number of factors. For instance, there are noticeable differences in expenditure for each generation: during 2023’s holiday season, Canadians of Generation X were predicted to spend nearly 2,000 Canadian dollars on average, while Gen Z and Gen Y were projected to spend less than 1,500 per capita.Another factor shoppers have had to consider in 2023 (as well as 2022) was the unfortunate spike in inflation recorded in Canada as well as many other countries around the world. Such a high rate of inflation leads to a higher number of hesitant and financially struggling consumers. In fact, some three-quarters of surveyed Canadians said it would make it more difficult for them to buy gifts during the holidays.
Black Friday and Cyber Monday
In 2023, some 40 percent of Canadian holiday shoppers planned to shop on Black Friday, making it a more popular choice than Cyber Monday and Boxing Day. When asked if they intended to cut back on spending during Black Friday and the holiday season in general, only about 40 percent of Canadians said they had no such plans. The majority of survey respondents was at least planning on reducing their holiday season spending to some degree. In terms of what consumers typically bought during these sales events, shoppers often looked for clothing, electronics, as well as toys and games.
