In this video interview, Tim Sanderson, Executive Vice President, Retail, for JLL Canada, discusses the real estate firm’s latest holiday shopping survey.
Tim Sanderson
Sanderson talks about how 39% of Canadians are looking for ways to save money this year, what retailers will benefit from that, and the preference of in-store shopping.
PRESS RELEASE
TORONTO, November 22, 2023— JLL released today the Canada Holiday Shopping Survey Report 2023, highlighting the preferences and behaviours of holiday shoppers across Canada.
The report indicates that 39% of Canadian holiday shoppers prioritize saving money, while the remaining 61% expand their holiday budget to make the season more fulfilling for their loved ones. Despite inflation concerns, shoppers’ average holiday budgets increased by 16% from last year, with Canadians planning to spend an average of $1,049.00 on holiday related experiences, gifts, and merchandise combined in 2023.
Clothing, shoes, and gift cards are the top choices for holiday gifts, with shoppers planning to visit a total of five stores and purchase seven different gifts on average. Moreover, the report reveals that shopping centers, restaurants, food courts, and movie theaters are the most sought-after destinations for holiday experiences.
Shopping centres dominate as the preferred method of shopping, with 95% of holiday shoppers planning to visit them, an average of three times. Dining out at restaurants is also highly popular, with 93% of shoppers planning to eat out two or more times during the holiday season.
As more shoppers plan to eat and/or drink in shopping centres, average dwell time continues to increase, reaching an average of 65 minutes this year. In 2021, average dwell time was 50 minutes. With fewer shoppers concerned about health and safety, short trips have become less popular. Half of shoppers plan to stay at a shopping centre between 30 and 90 minutes.
The report indicates a preference for physical stores over online shopping, with big box and discount stores remaining highly popular among shoppers. However, deal-hunters tend to favor e-commerce platforms, with Amazon topping the list of preferred retailers in Canada.
In terms of social media use for shopping decisions, YouTube, Facebook, and Instagram are the most popular platforms among Canadian shoppers.
“A significant change in 2023 is the prioritization of emotional connection with loved ones through gifts and experiences,” said Tim Sanderson, Executive Vice President, Retail, JLL Canada. “Despite economic uncertainty, many will spend 30% of their budget on experience such as dining, recreation and travel.”
Methodology
The report surveyed 1,000 online respondents throughout Canada across gender, age, ethnicity, education, income, marital status, number of children, employment status, career, and province. The survey was conducted in English on October 24-25, 2023.
To access the full Canada Holiday Shopping Survey Report 2023 and learn more about the findings, please visit jll.ca.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
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