Nearly 40% of Canadians will increase their consumer spending! Many categories are experiencing explosive growth opportunities!

According to a recent report from MiQ, about four in ten (37%) Canadians will increase their consumer spending in 2022. Affected by inflation, 56% said they would reduce non-essential spending, and another 47% said they would do more research before buying.

The report shows that 43% of Canadians said they will spend money on children's and baby products and toys, followed by consumer electronics (36%), fashion (35%) and large electronic products (34%), and will buy these products both offline and online. However, in terms of offline consumption, necessities (67%) and home improvement (53%) are the main categories purchased by Canadians.

It is worth noting that consumers aged 25 to 44 are more likely to adopt a hybrid approach to shopping, that is, to buy both online and offline. One in ten offline shoppers said they would compare products online, even when shopping in physical stores.

Researching before making an online purchase is very common. A report from MiQ shows that four in ten Canadians use multiple devices when conducting online research, with mobile phones still dominating. The information that Canadians care most about includes shipping, order tracking and logistics.

The study also pointed out that the main reason why Canadian seniors (over 55 years old) are reluctant to shop online is that they cannot try out the products. Young consumers (18 to 34 years old) are afraid of fraud and are less concerned about the exposure of their personal privacy.

It is also worth noting that the main source of product information for the older group is promotional emails, while younger consumers capture and find product information through online and social advertising.

Editor ✎ Nicole/

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