Visa Analysis: Canada Holiday Spending Rises 4.4%

Core Insights - Visa's annual Retail Spend Monitor indicates a 4.4% year-over-year increase in overall holiday retail spending in Canada, not adjusted for inflation [1] - The report highlights a shift in consumer behavior influenced by artificial intelligence, leading to more informed purchasing decisions [2] Retail Spending Overview - In-store sales accounted for 88% of total holiday spending, while online sales represented 12% [7] - Total e-commerce sales increased by 7% compared to the previous year, reflecting the total value of online purchases across all retail categories [7] - Clothing and accessories sales grew by 10%, making it the fastest-growing retail segment in Canada [8] Consumer Behavior Trends - General merchandise stores experienced a 9% increase in sales, up from 2% last year, as consumers sought convenience [8] - Health and personal care retailers saw a 5.4% increase in sales, compared to 3.5% the previous year [8] Global Context - Holiday spending trends in Canada mirrored increases in other countries, with the U.S. up by 4.2%, the U.K. by 3.6%, and Australia by 5.0%, indicating strong global consumer purchasing power [8] Visa Consulting & Analytics Impact - Visa Consulting & Analytics (VCA) provided insights that helped clients realize an estimated $6.5 billion in incremental revenue through nearly 4,500 consulting engagements over the past year [5]