Here we are in the sweet period when Halloween decorations rub shoulders with Christmas decorations in many proactive businesses.
And if many of us raise eyebrows at the sight of Christmas wreaths in pharmacies at the beginning of October, they apparently find takers: according to annual forecasts from the firm PwC, the majority of people do their Christmas shopping between Thanksgiving and Black Friday – this year on November 29.
The firm is releasing its Outlook for the 2024 Holiday Season in Canada this morning.
As for spending, she notes that Quebecers plan to spend less than Canadians. This gap is particularly large for millennials: Quebecers aged 28 to 43 estimate spending $1,388 for the holidays this year while Canadians in the same age group plan to spend more at $2,233. Please note, this includes gifts, travel (both visits to distant relatives and ski weekends) and entertainment costs.
Young people spend more
Young Quebecers will spend more – almost $2,000 for 17-27 year olds.
And a third of consumers in this age group plan to use retail financing options (33%) for their purchases.
In the gift department, they opt for classics: clothing, cosmetics or beauty products, jewelry or accessories, toys or a nice bottle of wine or cognac, according to what the PwC survey reveals.
Gift cards? Very little for them! Gen Z prefers to give gifts you can unwrap rather than cards in an envelope.
Save until then
In general, consumers will tighten their belts a little between now and Christmas, knowing that the holidays come quickly and are expensive.
Eight out of ten Canadians who participated in this study admitted they wanted to spend less, particularly at restaurants or on food orders, in the coming weeks.
All this because the holiday spirit is still strong: “Nearly one in five consumers (17%) told us they visit physical stores more often during the holiday season. This clientele is important for retailers because they plan to spend 9% more than the Canadian average for the holidays,” we read in the PwC analysis.
And the respondents were very honest: Christmas displays still attract a significant proportion of consumers and some (15%) make their holiday shopping a downright event!