Canadians and Americans are approaching this holiday season with a more intentional budget.
As we celebrate this year’s holiday season, distinct economic conditions are shaping how Canadians and Americans get their shopping done. As an agency with fairly equally number of clients on both sides of the border, we’re seeing firsthand how these dynamics are influencing consumer behaviour. In the US, shoppers are navigating expectations of tariff-related price increases, while Canadians, who tend to be more risk-averse in their spending and increased “buy Canada” movement, are leaning even more heavily into locally sourced gifts. How each define value for price differs. Together, these trends are creating a unique cross-border retail landscape this year.
While Canadians are methodical shoppers, Americans are driven by events.
The Canadian holiday shopper seeks value and is hoping to maximize their dollars.
- 80% are worried about tariffs and the impact on the Canadian economy.
- 78% planned to shop around for the best deal.
- 80% compare prices online.
In other words, Canadians are taking on a hyper-intentional, research-heavy approach to their gifts.
As Canadians shop more deliberately, it’s clear that retailers must demonstrate their value. To do that effectively, further research around consumer demand, price points, and audience segmentation are necessary to pinpoint what these key drivers of purchase are and what should be emphasized to which consumers.
On the other side of the border, the American holiday shopper is driven by events to snag deals. With 85% expecting higher prices this year due to tariffs, a higher proportion of Americans planned to wait until Thanksgiving weekend to get their holiday shopping done.
202.9 million consumers shopped Thanksgiving weekend this year, a record high since the National Retail Federation (NRF) started tracking the weekend. This aligns with what we see in our research, where Americans respond more to big events rather than an ongoing price vigilance that Canadians tend to adopt.
When every retailer is competing for attention, price alone isn’t enough to break through as consumers shift toward a value mindset, looking for deals and thinking about where to spend. Research is important to identify the factors that set brands apart in these promotion-heavy moments.
Things to keep in mind this holiday season:
Shoppers across both markets share a desire for value and a longing for a sense of normalcy this holiday season. These patterns extend well beyond the holidays, reinforcing the importance for North American-wide businesses to understand how each market is shifting, especially in an economic climate that feels constantly in flux.
While these trends offer a helpful starting point, many organizations are now seeking a deeper understanding of how broader economic forces and personal financial realities are shaping their own shoppers and categories.
Sources
- Consumers to Spend Second-Highest Amount on Record, According to NRF Holiday Survey, National Retail Federation, October 16, 2025: https://nrf.com/media-center/press-releases/consumers-to-spend-second-highest-amount-on-record-according-to-nrf-holiday-survey
- Deloitte Canada’s 2025 Holiday Retail Outlook: https://www.deloitte.com/content/dam/assets-zone3/ca/en/docs/industries/retail/ca-hro-report-fy26-en-aoda.pdf
- Retail Council of Canada releases its 8th annual RCC × Leger 2025 Holiday Shopping Survey, Retail Council of Canada, October 20, 2025: https://www.retailcouncil.org/research/rcc-x-leger-2025-holiday-shopping-survey/
- Thanksgiving Holiday Weekend Draws a Record 203 Million Shoppers, National Retail Federation, December 2, 2025: https://nrf.com/media-center/press-releases/thanksgiving-holiday-weekend-draws-a-record-203-million-shoppers