In a survey of 2,500 Canadian consumers, 71 per cent said they are changing their shopping habits to keep a tighter grip on their budgets, including by waiting to make purchases only when they find the best sale
In any year, the holiday season is a pivotal, make-or-break time for many businesses. But this year, while retailers are working even harder to entice consumers to get in the spending spirit, a number of factors are conspiring to keep Canadian shoppers at bay.
And people are picking and choosing where their money goes: while Deloitte expects spending on travel and charitable giving to grow significantly, the report predicts gift spending to rise just 4 per cent – only modestly outpacing inflation. This is important because Altitude’s customer service line has been fielding questions about whether deeper discounts are still to come.
It’s not the only online discounter that is gaining traction: Deloitte’s research showed roughly one-third of Canadians are considering doing some of their holiday shopping on global marketplaces such as Temu and Shein, a higher number than in previous years. It is intended to help Toys “R” Us “to remain top of mind, to get on to the consideration list of the shopper and to make sure that they are looking at what we have to offer,” said Allyson Banks, the retailer’s marketing director.
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