The 2025 Canadian holiday outlook , as detailed in the latest PwC Canada survey, points to a season marked by more thoughtful spending, generational divides, and shifting loyalties to domestic brands.
With over 1,000 Canadian consumers polled in late summer, the data provides retailers with essential guidance for engaging holiday shoppers this year. Canadians Cutting Back for the Holidays Canadian consumers plan to spend an average of $1,675 on gifts, travel, and entertainment, representing a 10% decrease over
last year but a 2% increase from 2023 . While 81% of respondents are considering cutbacks in various areas—especially gifts for friends, pets, and themselves—spending on family remains a priority. PwC researchers explained that as wallets are tightening, Canadians will be making hard choices about where to spend their money.
Slightly over eight out of ten respondents are considering cutting back to save money over the next six months. While they don’t plan to cut spending on family members, they do plan to cut spending on gifts for friends, pets, and themselves compared to last year.
Reducing reliance on credit cards and increasing debit card use is another notable trend, as consumers strive for better control over their budgets and spending habits.
Generational Spending Differences The most significant declines in holiday budgets are seen among Gen Z and millennials , who plan to spend 34% and 11% less than last year, respectively…
