Canadians are planning to spend more than they did last year on holiday shopping, according to a new survey.
The 2024 Holiday Shopping Retail Outlook by Deloitte Canada found Canadians plan to spend $1,478 for the holiday season, which is 10 per cent more – or $131 more – than last year when spending reached a five-year low. However, the amount is still below levels from recent years with Canadians spending $1,520 in 2022 and $1,706 in 2019.
The findings are based on a survey of more than 1,000 consumers, looking at various age groups financial situations and geographic regions, Deloitte Canada says.
Marty Weintraub, partner with Deloitte Canada, said many consumers plan to wait until Black Friday, which falls on Nov. 29 this year (five days later than 2023), to shop.
“The competition is going to be fierce…Forty-two per cent of Canadians believe the best deals will be on or around …