1、Spending less,connecting more 2022 holiday retail outlook Shoppers will also be looking for ways to stretch their dollars.2|2022 holiday retail outlook Canadians are craving connection this holiday season Recent holiday seasons have seen Canadian consumers cycle between cautious optimism and concern

2、.This year,theyve been exposed to a seemingly endless cycle of negative news,including economic uncertainty,high inflation,rising interest rates,geopolitical upheaval,general“pandemic hangover,”new or resurgent diseases,and more.It will be hard for Canadians to find reasons for optimism when there i

3、s so much ambiguity.Across income brackets,consumers have seen their buying power shrink.Theyll be looking for ways to stretch their dollars this holiday season.For some,that may mean choosing new products;for others,it might mean spending more time looking for the best deals.While some will strive

4、to make purchases that reflect their sustainability and/or ethical values,others question whether they can afford to do so or whether they feel equipped to identify products that are genuinely sustainable and/or ethical.Despite the challenges of this seasonor perhaps because of themCanadians are cra

5、ving connection and shared experiences,as our 2022 retail holiday survey reflects an increase in plans to visit stores and host family gatherings.Key insights for 2022 Consumers trim holiday spending amid economic uncertainty and other worries:Almost half(48%)of Canadians expect the economy to be wo

6、rse in 2023,and four in 10(41%)have seen their household finances worsen this year.Overall holiday spending will fall 17%this year,to$1,520,with the biggest drops in non-gift electronics(-55%),travel(-30%),and non-gift clothing(-27%).Consumers want to buy goods that express their valuesbut some are