According to Mastercard SpendingPulse data, Canadian consumers' spending increased by 7% year-on-year in August due to the shopping frenzy set off by the back-to-school season. Specifically, in-store sales increased by 7.8% year-on-year, and e-commerce sales increased by 3.6% year-on-year. “With the holiday season coming to an end, many people have traveled and are beginning to prepare for the back-to-school season, it’s not surprising that Canadians are spending more,” said Steve Sadove, senior advisor at Mastercard. “But it’s worth noting that Canadian e-commerce sales growth continues to grow strongly compared to pre-pandemic levels, which means that while in-store shopping has recovered and become resilient, people’s habits of online shopping have already been formed.” It is learned that, by category, due to the arrival of the back-to-school season, many students returned to school. In August, sales in the apparel industry surged 37.4% year-on-year (and increased 18.8% over the same period in 2019), ranking first in the increase. In addition, with the end of summer, the demand for home improvement has further increased significantly. In August, sales in the home furnishings and furniture industry increased by 12.8% year-on-year, and home repair supplies increased by 11.7% year-on-year. Since the outbreak of the epidemic, Canadians have been spending more money on home improvement. On the other hand, due to increased outings and travel, Canadians' spending on fuel and restaurants is also strong, up 18.5% compared to the same period in 2021 and 32.8% compared to the same period in 2019. Editor ✎ Nicole/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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