Less spending this Christmas
Okanagan Edge Staff - Oct 22, 2020 - Biz Releases

Photo: Contributed

Pricewaterhouse Coopers has found that people are expected to spend 30% less on Christmas this year, but more will likely be spent online than in stores.

The company found during its annual Holiday Outlook report that people planned to fork out $1,104 this year, which is a decrease of 30.7% from the $1,593 that was spent last year.

“Many Canadian consumers and retailers aren’t sure what to expect as we approach the 2020 holiday season,” PwC Canada national retail leader Myles Gooding said in a press release. “This year, the impact and implications of the COVID-19 pandemic are top of mind for consumers. Canadian consumers plan to do more of their shopping online than in stores this holiday season, as they focus on convenience, health and safety rather than the shopping experience itself.

“One thing is clear: Successful retailers will be those who adapt to our quickly changing business environment and understand what a more digital world means for how they interact with consumers.”

Another notable shift in this year’s holiday shopping trend will be global shopping. Since the U.S.-Canadian border is closed, cross-border shopping in stores is mostly nonexistent, but there has been an increase in online cross-border shopping.


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