Christmas shoppers prioritizing savings this year
The countdown is on for Christmas with the big day now less than a week away. It means that stores are busy with last-minute shoppers who are trying to get everything done.
This year, the consumer mindset is focused on saving wherever possible.
At the St. Laurent Shopping Centre, the parking lots were full. Shoppers like Carla Rowan are slowly crossing things off a list.
“A few more things to go, but I’m getting there,” she said. “Everybody’s been super helpful here too, which is great.”
A survey by retail consultants at EY Global finds that this year, thousands are hunting for sales amid a cost-of-living crisis.
“More than ever, Canadian shoppers are spending their money carefully. They are looking for deals, they’re looking for sales, and they’re prioritizing price above almost everything else,” said Elliot Morris, a partner at EY Canada.
Other trends include the return of in-person shopping instead of filling up a cart online and flexible payment options to allow consumers to buy now and figure out financing later.
“More and more people are looking for buy now, pay later and intend on spending on their credit card and repaying over time,” said Morris.
For those who do prefer to shop online, many are also checking out social media for links to items.
“I’d like to browse with a cup of tea and sit down with some TV shows and put items into the cart,” said Rowan. “It’s been really good. Although the postal strike has made a big difference, too. I have a few things that I’m still waiting for to come in.”
As consumers rush to get everything in time for the holiday season, many are focusing on what’s affordable and also interesting beyond the initial holiday season.
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