Consumers have had another challenging year of disruption and persistent macroeconomic conditions. Increased inflation, rising debts, and threats of a potential recession have all materialized into more selective budgets for the Canadian shopper. Despite the shorter shopping season ahead, consumers will be more cautious, searching for retailers who check value and convenience off their wish lists.

Although consumers are spending more than last year, budgets are still tight. Many have consistent economic concerns which will impact what they buy and how they spend their money this holiday season.

Consumers' search for value will lead to a shorter shopping season as they hold off spending the bulk of their budgets on or after Black Friday.

Consumers expect to spend an increasing share of their holiday budget online. In their search for value, consumers are shopping at various competitive marketplaces, including new digital and social commerce platforms.

One in four consumers have been impacted by a retailer data breach, driving 60% of consumers to either stop shopping or shop less often at impacted retailers. Consumers are placing more value on privacy and security in their online shopping experiences.

51% of consumers believe they understand GenAI. But our data shows that overall, only 15% of Canadians trust GenAI, and more than half are concerned about the future it holds.

Although budgets are a bit bigger, 'tis the season of cautious spending for most consumers. Retailers who offer value and transparency will find themselves on top this year. Unwrap the trends and insights defining Canada’s 2024 holiday retail landscape.