Decoded: The Customer
In partnership with Angus Reid customer research here at the TOP 10 consumer trends, and behaviours found as Canadians emerge from the COVID-19 pandemic and head into the holiday shopping season.
1. Canadian Finances Are Back To Normal
32% of Canadians say they have increased their overall spending compared to this time last year. Improving finances mean Canadians are ready to make big ticket purchases. Some major purchases Canadians feel comfortable making as their financial situation has improved are going on a vacation, and home renovations and improvements.
2. Pandemic Worries Persist
Canadians are beginning to feel less optimistic on a quick return to normal. Earlier this year about 67% of Canadians felt the pandemic has been contained. As of most recent only 42% believe this.
3. Canadians are on the Move
Despite stated pandemic concerns Canadians are on the move again. Bars, restaurants and malls are back to life!
4. E-Commerce/ Brick – and – Mortar Balance
One of the most talked about topics since the start of the pandemic, customers main resource for products and goods were online shopping. Now Canadians are returning back to the brink-and-mortar shopping, however many still prefer online. 65% of Canadians say they are continuing to shop online the same amount as they were this time last year.
5. Brand Loyalty Still Up For Grabs
76% of Canadians have tried a new brand in the past month. We see the most increase in grocery, alcohol and household package goods. Good news is Canadians are continuing to support from the new brand.
6. Price Increases are Driving Brand Loyalty Shifts
Macroeconomic trends may drive significant brand loyalty shifts. 43% somewhat agree with the statement that their preferred brands have started to get too expensive. 45% are actively seeking out lower cost alternatives to brands purchase perviously.
7. Consumers Support Brands that Align with Their Values
Canadians are more likely to buy brands which align with their values.
8. Social Commerce Gets Mixed Reception
31% of Canadians have made a purchase directly through a social media platform. Consumers have discovered a new brand/ product through various social media advertising. However there is still a large amount of Canadians who lack trust in social media marketing, about 73% feel that conventional advertising is more trustworthy.
9. Canadians are Excited About the Holiday Season
Canadians are envisioning a more normal holiday season this year. 26% of Canadians say they are going to start their holiday shopping earlier than last year.
10. Canadians Come Together
Canadians social values have become more aligned over the past year. Combating climate change is the most important social and political issue today. They are also aligned on the social values they want brands to represent.
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