The 2024 Holiday Shopping Retail Outlook by Deloitte Canada indicates that Canadians will spend $1,478 this holiday season, representing a 10% increase from last year.
Many Canadians plan to wait for Black Friday deals with 42% believing that the best prices will come around this time, making competition intense.
There is a notable increase in charitable giving this holiday season, with donations up by 35%. Holidays are also shaped by experiences rather than material gifts.
The survey highlights a shift towards online shopping, with 71% of respondents planning to shop on Amazon, yet competition from Temu, Shein, and Alibaba is increasing.
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