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Federal Express Corporation, a leading global courier company, has conducted a survey revealing insights into Canadian holiday shopping trends for 2024. The study indicates that despite inflation concerns, Canadians are determined to maintain or increase their festive spending compared to last year. According to the FedEx Canada online shopping survey, more than half of respondents plan to keep their holiday budget at last year's level, with 13% intending to spend more.
The survey shows a slight decrease in the percentage of people planning to reduce their holiday spending compared to the previous year. In 2023, 37% anticipated cutting back on expenses for the holidays in 2024; this figure has now dropped to 33%. Among those considering reduced spending, inflation and rising living costs are cited by 64%, followed by winter living expenses at 56%, and fewer gift recipients at 34%.
Ann-Marie McIntosh, Vice President of Global Brand at FedEx, noted: "Despite financial constraints remaining a concern, it is very encouraging to see an increase in purchase intent as the holidays approach. Our data reveals that 66% of Canadians surveyed do not feel stressed about holiday shopping. They adopt proven strategies such as waiting for major promotions and checking off names on their lists to optimize their end-of-year budgets."
