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“Canada Holiday Shoppers Increasing Budgets for Gifts and Experiences
TORONTO, Nov. 16, 2023 /CNW/ — The Canada Holiday Shopping Survey Report 2023, released by JLL, sheds light on the priorities and behaviors of Canadian holiday shoppers. According to the report, 39% of shoppers are focused on saving money, while the remaining 61% are looking to create a more fulfilling holiday season for their loved ones.
Increased Budgets and Popular Shopping Destinations
Despite concerns about inflation, Canadian holiday budgets have seen a 16% increase from last year, with an average of $1,049.00 planned for holiday experiences, gifts, and merchandise combined in 2023. The top choices for holiday gifts include clothing, shoes, and gift cards, with the average shopper planning to visit five stores and purchase seven different gifts. In terms of experiences, shopping centers, restaurants, food courts, and movie theaters are the most sought-after destinations.
Changing Shopping Habits
The report also highlights the dominance of shopping centers as the preferred method of shopping, with 95% of holiday shoppers planning to visit them an average of three times. Dining out is also highly popular, with 93% of shoppers planning to eat out two or more times during the holiday season. The average dwell time at shopping centers has increased to 65 minutes this year, up from 50 minutes in 2021.
Shifting Preferences
While physical stores remain popular, deal-hunters are favoring online platforms, with Amazon topping the list of preferred retailers in Canada. In terms of social media use for shopping decisions, YouTube, Facebook, and Instagram are the most popular platforms among Canadian shoppers.
Prioritizing Emotional Connection
According to Tim Sanderson, the Executive Vice President of Retail at JLL Canada, there is a significant shift in the 2023 holiday season, with many shoppers prioritizing the emotional connection with loved ones through gifts and experiences. Despite economic uncertainty, many are planning to spend 30% of their budget on experiences such as dining, recreation, and travel.
Unbiased and Diverse Research
The report’s findings are based on a survey of 1,000 online respondents in Canada, covering a wide range of demographics and conducted in English from October 24-25, 2023. For further details on the report, visit jll.ca.
In Conclusion
As the holiday shopping season approaches, it’s clear that Canadians are prioritizing meaningful experiences and connections with their loved ones. Despite economic challenges, the increase in holiday budgets and the focus on emotional fulfillment reflect a desire for shared moments and memories. This shift in priorities may have larger implications for the retail and hospitality industries, as they strive to meet the evolving needs and desires of holiday shoppers in Canada.”
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