Canadians are ready and excited for 2021 holiday shopping. The Retail Council of Canada (RCC) issued their annual Holiday Shopping Survey results. There will be a less restricted holiday season compared to last year. Many Canadians are planning on spending more money. Black Friday deals, Cyber Monday sales, and Boxing Day steals are appealing. This holiday season will see the shopping experience return to normal. The retail industry will earn a lot of money off this year’s holiday sales. Potentially recuperating losses from last year. Learn more about the forecasted spending of Canadians below.
The Retail Council of Canada’s (RCC) Holiday Shopping Survey polled 2,500 Canadians. On average, they plan to spend $792 each this holiday season. In 2020, they planned on spending $693. Each year Canadians spend more than they plan. Expect averages across the country to be over $800. The biggest intended purchases to be clothing, food, toys, and personal electronics. This year, most Canadians will spend the bulk of their holiday budget on clothing. Last year, they spent most on food. Pandemic fear and restrictions are lifting around the world. Canada is no exception. Most Canadians are eager to do more in-store shopping. Read the RCC’s full 155-page report here.
Canadians are eager to spend some extra money and get back to normal shopping behaviors
As the world slowly gets back to normal so are spending habits. The 2021 holiday sales are on track to reach pre-pandemic levels. Canadians are itching to live life and celebrate the holidays. More gatherings will be taking place. Plus, there’s an anticipation of more gift exchanges. We are not entirely out of the COVID-19 pandemic yet. But shoppers are taking advantage of the convenient shopping methods the pandemic streamlined. Delivery, free shipping, curbside pickups, and in-store shopping will work to the customer’s advantage. Most Canadians want a taste of normalcy. Most are still cautious and maintaining physical distance when possible. A blended online and in-person shopping season will provide experience and security.
Expect Black Friday to be one of the busiest shopping days
43% of Canadian shoppers plan to buy on Black Friday. 35% plan to shop on Cyber Monday. 34% plan to shop on Boxing Day. Black Friday will be one of the biggest single-day total sales of the year. It may even be the biggest shopping day of the year. Experts are predicting fewer big sales and discounts from retailers this Black Friday. As there is a very high demand and a lack of inventory. For the stores and items that will be on sale, expect retail sales to start early. Most often, sale items are over-stock items businesses want to clear before the end of the year. To make sure this happens, some businesses have even begun holiday sales as early as October.
Supply chain and inventory issues spur Canadians to shop early
To avoid crowds and out-of-stock goods, Canadians are planning. Many shoppers have their hearts set on popular products and brands. They are buying early to make sure they have the right gifts. The supply chain has been deeply affected by the pandemic. This has caused product shortages. The effects include increased gas prices, superconductor electronic chip shortages, labour shortages, and increased shipping costs. These are widespread supply chain issues. Products are being produced slower. There are fewer of the goods everyone wants on the shelves. To avoid missing out on prime gifts and to avoid huge lines, Canadians are shopping earlier. Computers, phones, gaming consoles, vehicles and home appliances are on reduced supply. This holiday shopping season will be the busiest and hardest to navigate. For stress-free holiday shopping, plan to shop earlier, start shopping now. This will help shoppers avoid shipping delays. If they wait until last minute, shoppers will have to navigate product reviews for alternative holiday gifting. Gift cards will make up 16% of holiday budgets. If the gifts shoppers really want are not on the shelf, this percentage may rise.
Most Significant Regional Differences:
- Ontario: $862 shopper spending on average. Compared to the national average of $792.
- Quebec: $565 shopper spending on average. This is the lowest average in the country. Well below the national average of $792. Quebec citizen report being significantly impacted by the pandemic. They intend to spend more of their budgets on themselves.
- Manitoba / Saskatchewan: $692 shopper spending on average. Below the national average of $792. However, these provinces plan to buy more gifts with their budget.
- Alberta: $869 shopper spending on average. Compared to the national average of $792.
- British Columbia: $958 shopper spending on average. This is the highest average in the country. Well above the national average of $792.
Holiday Online Shopping Safety Tips
Many Canadians are planning to shop in person this year. Here are some holiday shopping safety tips from around the web.
- Take advantage of down times. Try to do your shopping during low times to encourage social distancing. This could be during the week when you have a day off. Or well before the holiday shopping rush begins.
- Mask and sanitize. We’re all in the habit of wearing masks and sanitizing now. However, with the holiday season, you’ll be exposing yourself to more risk. Be sure to mask up and sanitize regularly.
- Stay home if you’re sick. If you’re not feeling well, you shouldn’t go shopping. This will protect others as well as yourself.
This may be a busy and normal holiday sales season. We are still in a pandemic and some people would rather avoid crowds. Online shopping can be a safe way to participate in the year-over-year holiday cheer. After 2020 all Canadians deserve a good and safe holiday season. COVID-19 made many reassess their priorities. These COVID-19 financial tips may be what you need this holiday season. The Canadian government has plans to improve its finances by 2026. If you are in debt, enjoy the holidays with a holiday debt plan. Budget for the 2021 holiday season according to your current financial state. Reduce debts all while celebrating. If you are struggling or would like additional support navigating your finances. Consider contacting Consolidated Credit Counseling Services of Canada.