Consumer spending remains strong! Canadians are more willing to spend on "health and wellness products" in 2022!

It is learned that according to the 2022 Canadian Consumer Trends Report "The New Normal" released by PayBright, Canadians' consumer spending will continue to rise under the severe situation of the epidemic outbreak and global supply chain problems.

According to PayBright research, Canadians consider these three factors when making a purchase:

1. Nearly two-thirds (65%) of Canadians say they purchase from Canadian-owned online marketplaces for a sense of “pride.”
2. 70% of Canadians said they want businesses to offer free returns.
3. Nearly half of Canadians (45%) say they will spend more purposefully in 2022, spending money and time on necessary expenses.

PayBright has also identified four key trends that will impact Canadian consumer spending in 2022 and beyond:

• COVID-19 will continue to impact household budgets

The virus has affected the income of 39% of Canadians, and 73% of respondents said they will be cautious in spending in the future, among which the vast majority will be "thrifty" in online shopping.

• Consumers will prioritize spending on health and wellness products in 2022

Canadians will prioritize family and friends (45%), mental health (38%) and physical health (42%). Most respondents said they will spend the same or more in the future than they did in 2021 on household goods, home fitness, health and wellness, and beauty and apparel.

• In 2022, consumers plan to spend money on valuable and meaningful products

The pandemic has made Canadians more concerned about community protection, climate issues, and whether shopping is for the public good. 57% of people (under 35 years old) said they would not buy brands that do not align with their personal values.

• Online shopping will continue to grow, but one in four people are also interested in "in-store shopping"

Nearly three-quarters of Canadians under 35 said they would continue to shop online. For consumers, they are more concerned about safety measures when shopping (64%) and multiple payment methods at checkout (55%).

Editor ✎ Nicole/

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