Published on : Jan 05, 2018
Albany, New York, January 5, 2018: A new report examining behavior and attitudes of Canadian shoppers has been added to the vast database of Market Research Hub (MRH). According to the report titled “The Budget Shopper - Canada - December 2017”, Canadian shoppers are quite flexible with their monthly budgets, however they still keep an eye on their finances. This attitude among Canadian shoppers means that a majority of them are receptive to impulse shopping if they reckon that the deal is good enough in terms of value for money.
According to the report, the fierce competition among brands in Canada has meant that there are far too many deals trying to lure consumers into impulse shopping. The authors of the report are of the opinion that all consumers display some level of budget-shopping traits in Canada. The amount of research and pre-work about the best deals in their respective cities is on the lower side among consumers, with a medium level of receptivity about buying stuff on an impulse. Consumers in Canada are increasingly preferring private label brands, and this preference has been observed in both the sexes. The confidence among Canadian consumers about their own financial condition, and the overall state of the economy is formidable, and this is also impacting purchase decisions. The number of baby boomers in Canada is also increasing, as is the case in the US, which has led to a small proportion of consumers that can be classified as formal budgeters.
The consumer confidence in their own financial situation and overall economy is validated by macroeconomic developments as well. For example, the actions of Bank of Canada are also signifying a high level of confidence among consumers on the economy. The market players are focusing on targeting the budget-shoppers through attractive deals and discounts, however, they are also aware that consumers are still concerned about the quality and value for money aspects. The focus on targeting the budget-shoppers has meant that Walmart Canada has seen gains by reducing prices on some items. Further, the performance of Dollarama has also exceeded expectations, further cementing the notion of price decline and consumer behavior.
An important trend impacting the budget shoppers in Canada is the easy access to portals that inform consumers about the best deals in their vicinity. The proliferation of internet and smartphones has meant that technology has made it more convenient for consumers to take advantage of the attractive offers in their vicinity. Overall, the report is a holistic piece of information on the preferences and attitudes of budget shoppers in Canada.
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