TORONTO – Canadians will spend an average of CA$1,593 for the 2019 holiday season, slightly up from CA$1,563 (or 1.9 percent) in 2018, according to PwC Canada’s Holiday Outlook report.
Canadians plan to spend 41 percent of their holiday shopping time online, up four percent from last year, but the bulk is still done in-store (59 percent). Breaking it down, 55 percent of millennials and 49 percent of Generation Z will shop online.
Home delivery remains the most popular method of delivery with 56 percent of Canadians opting for convenience. Amazon Prime memberships in Canada are up 60 percent from last year, now in 37 percent of Canadian households.
While the USMCA ratification has yet to be finalized, Canadians are less concerned about trade issues this holiday season than last year. Cross-border shopping is set to increase 21 percent this year due to better prices and deals (66 percent), increased product range available (42 percent), or because the product/brand is not available locally (34 percent).
Early November remains the most popular time to start Holiday shopping. In terms of getting the best deals, 38% of Canadians agree that Black Friday is the best time to get deals. Shoppers will shop with retailers they trust and have loyalty programs and where they can get a good deal.
Canadians are feeling generally positive about the economy and the state of their personal finances. According to the report, 25 percent of respondents are feeling better than last year about the state of their personal finances.
Despite recent announcements about household debt-to-income ratio rising, more than 80 percent plan to use their credit card at some point during the holiday season. Only 17 percent (vs 19 percent in 2018) are concerned about credit card debt and 21 percent are not worried about it.