Survey: Canadian shoppers plan to curb holiday spending
Canadian holiday shoppers are expected to be more diligent this year as inflation and tariffs continue to alter consumer spending.
That’s according to Deloitte Canada’s new 2026 Holiday Retail Outlook report, which found that spending on gifts and gift cards is projected to drop 5% this holiday season. A sharp decline in spending on holiday entertaining (22%) and experiences (20%) is also expected.
Deloitte Canada found that overall holiday spending per person is expected to be CA$1,305, the lowest level since the survey began. Last holiday season, projected holiday spending was CA$1,521 per person.
The large majority (83%) of Canadians expressed concern about the impact of tariffs on prices and the broader economy. As a result, 78% said they will be actively looking for more discounts, promotions and sales this holiday season.
Roughly the same percentage (77%) plan to prioritize reasonable prices and value when choosing a retailer. Consumers are expected to visit an average of 16 stores and digital destinations when looking for gifts, according to the report, up from 14 last year.
More than half (55%) of planned holiday spending is expected to take place in-store, compared with 42% online.
"Canadians are not cancelling the holiday season, but economic uncertainty is influencing their spending decisions, making them far more discerning," said Shaunna Conway, partner and national retail leader at Deloitte Canada. "This shift is creating more price-conscious consumers, and retailers that offer clear, compelling value propositions will be best positioned to earn a place in shoppers' holiday baskets this year."
Additional highlights from the Deloitte Canada survey include the following:
- Nearly four-in-10 (39%) consumers plan to use AI for holiday shopping, primarily for gift inspiration, price comparison and deal discovery, compared with 25% in 2025.
- While 79% of consumers expect holiday prices to be higher than in 2025 (up from 70% last year), 63% believe retailers are raising prices more than necessary.
- Nearly half of consumers (45%) consider Canadian or local ownership important when choosing where to shop, but 35% are unwilling to pay a premium for products based solely on local ownership.
- Shoppers aged 35 to 44 plan to visit at an average of 23 retailers this holiday season.
The Deloitte Canada survey was conducted between Aug. 28 and Sept. 4, polling Canadian consumers across age groups, financial situations and regions. All figures are in Canadian dollars.
