Amidst inflationary pressures, interest in price-sensitive terms like “discount code” and “price match” are way up, according to the latest insights from Google Canada.
Deal hunting is top of mind for 85% of Canadians, according to a study conducted with Ipsos, while searches for deal-related terms are seven times higher than they were in the lead up to pre-pandemic holiday seasons.
The survey also found that 72% of Canadian holiday shoppers are concerned about the rising cost of items they need or want to buy. Meanwhile, 60% of holiday shoppers say they plan to buy less because of the impact of inflation on their finances.
Eric Morris, managing director of Google Canada Retail, tells strategy there has even been a spike in private label brand search interest, signaling a very price-conscious shopper environment, and that 41% of holiday shoppers report they are comparing prices and price matching.
Canadians are increasingly looking for deals, Morris explains. This is due to price increases they are already seeing in day-to-day shopping, but also negative headlines and news coverage about a looming recession making them extra cautious about their finances.
While we expect to see a return in-store shopping this holiday season, shoppers will use digital to inform, inspire and enable their purchases. According to Google insights, 86% of shoppers discover brands or products while browsing online and 89% of holiday shoppers searched online first before a store visit.
Also, searches for curbside pickup aren’t slowing, despite restrictions having fully eased: search interest for “curbside pickup near me” spiked 250% year-over-year and 73% of shoppers report they will shop with stores that offer free shipping.
Books, electronics, apparel and small kitchen appliances, Morris says, already lend themselves to online purchase, while consumers are becoming more comfortable buying categories like furniture online.
And around the holidays, shoppers are taking a more strategic approach and making fewer impromptu purchases, thanks to lingering concerns about inventory.
According to Morris, there’s a misnomer that digital always connects to ecommerce. “We sort of conflate the two,” he says. Consumers know that it’s not just about influencing what we buy online, but also what we buy in store. Digital has always played an important role in driving instore, Morris says, noting that in biweekly Google pulses, it is seeing that digital is playing an outsized role in the physical realm.