Canadian consumers are in the mood to spend

Though the state of the economy is a factor, the latest MiQ insights show that is having more of an impact on habits like research.

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About four in ten Canadians are going to boost their retail spend this year.

That’s according to the latest from MiQ, “Unboxing the Canadian Retail Consumer,” which gleaned insights from over 8,000 global consumers across North America, Europe, Australia, Southeast Asia, China and the Middle East, using data pulled from devices including PCs, connected TVs and mobile phones.

According to the MiQ numbers, 37% of Canadians will be spending more this year, though habits formed during lock-downs are proving persistent. For example, 56% of consumers have reduced nonessential spends, while 47% are doing more pre-buy research (see, below).

During the last two years, a significant proportion of Canadian audiences were exposed to online shopping platforms by choice or by compulsion. However, having experienced the comfort of shopping from home, online shopping is likely to continue be a part of nine in ten online shoppers’ future habits.

shopping habits 2 MiQ

shopping habits MiQ

Kids and baby products/toys are the leading category for “hybridized” shopping, products purchased both online and offline (43%), followed by consumer electronics (36%), fashion (35%) and big-ticket electronics (34%). Essentials and home improvement are the two category drivers for offline spending (67% and 53%).

Consumers in the 25 to 44 age group are significantly more attuned to shopping in a hybrid manner, while one in ten offline shoppers in Canada compare products online, even while they are shopping in store.

Cross platform research is very common: four in ten Canadians use multiple devices when conducting their research online, while mobile apps dominate when it comes to way-finding, order tracking, and shortlisting.

The biggest obstacle for older buyers remains the inability to trial items, and a propensity to “try and buy” is double for seniors than it is for the 35-44 set (61% vs 31%).

Younger consumers are most fraud-fearful, yet paradoxically, are the least concerned about disclosing private information.

Lastly, promotional emails continue to be a significant source of information for audiences over 55, while online ads and social advertisements are the primary source of info for the people 18 to 34.