Canadian Budget Shopper Consumer Report 2024
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Economic trends have made budgeting more necessary. But the reality is that consumers will always seek out great value – even when they’re financially comfortable.
Scott Stewart, Associate Director, Lifestyles & Retail
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- Key issues covered in this Report
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Executive Summary
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Target Audience Overview
- Budget shoppers by the numbers
- Graph 1: factors that have affected consumers in the past two months, 2023
- Graph 2: budget behaviours in the past two months, 2023
- Graph 3: ways of spending extra money, 2023
- Market context
- Graph 4: Consumer Price Index (not seasonally adjusted), 2021-24
- Graph 5: change in average hourly wage rate (all employees, all industries), 2021-23
- Graph 6: expected growth in income and spending in the next 12 months, Q1 2019-Q4 2023
- Graph 7: estimated variable mortgage rate (%), 2021-24
- Graph 8: share of indebted households behind on payments for at least 60 days (any credit category), Q1 2015-Q3 2023
- Graph 9: average household net saving (dollars), by income quintile, Q3 2021-Q3 2024
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Consumer Insights
- Consumer fast facts
- Consumer fast facts (continued)
- Consumers’ approach to budgeting
- Graph 10: approach to budgeting, 2017-23
- Graph 11: approach to budgeting, by current financial situation, 2023
- Graph 12: “I stress about my budget on a daily basis” – agree, by approach to budgeting, 2023
- Budget retailers used
- Graph 13: retailers shopped at regularly, 2023
- Graph 14: retailers shopped at regularly, by approach to budgeting, 2023
- Graph 15: retailers shopped at regularly, by household income, 2023
- Graph 16: retailers shopped at regularly, by race, 2023
- Graph 17: retailers shopped at regularly, by time in Canada, 2023
- Graph 18: regularly shop at thrift stores, by approach to budgeting, 2023
- What consumers are buying at Walmart, Amazon and Dollarama
- Graph 19: product categories purchased from Walmart, by time in Canada, 2023
- Graph 20: product categories purchased from Amazon, by age, 2023
- Graph 21: product categories purchased from Dollarama, by household income, 2023
- Indicators of quality
- Graph 22: indicators of quality, 2023
- Graph 23: indicators of quality, 2023
- Graph 24: indicators of quality – good reviews, by generation, 2023
- Graph 25: indicators of quality – made in Canada and sustainably made, by generation, 2023
- Graph 26: indicators of quality – made in Canada and sustainably made, by gender, 2023
- Graph 27: indicators of quality – packaging, exclusivity and endorsements, by generation, 2023
- Categories where consumers will sacrifice quality
- Graph 28: categories where consumers are most likely to sacrifice quality for savings, 2023
- Graph 29: categories where consumers are most likely to sacrifice quality for savings, 2023
- Graph 30: categories where consumers are most likely to sacrifice quality for savings – clothing and footwear, by approach to budgeting, 2023
- How Canadians are supplementing their incomes
- Graph 31: ways of supplementing income (% agree), 2023
- Graph 32: ways of supplementing income (% agree), by age, 2023
- Graph 33: ways of supplementing income (% agree), by time in Canada, 2023
- Graph 34: budgeting behaviours and attitudes, overall vs supplemental incomes (agree), 2023
- How consumers use digital shopping tools to help their budgets
- Graph 35: shopping tools used for budgeting, 2023
- Graph 36: shopping tools used for budgeting, by approach to budgeting, 2023
- Graph 37: shopping tools used for budgeting, by age, 2023
- Graph 38: shopping tools used for budgeting, by gender, 2023
- Graph 39: shopping tools used for budgeting, by time in Canada, 2023
- Budgeting in tech and media
- Graph 40: budgeting behaviours in tech and media, 2023
- Graph 41: “At least one of my current streaming subscriptions is shared with another household” (% agree), by age, 2023
- Graph 42: “I’ve ‘subscription hopped’ streaming platforms” (% agree), by age, 2023
- Graph 43: “I’ve bought a refurbished tech device”, by age, 2023
- Mintel Trend Let’s Make a Deal
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Competitive Strategies
- Launch activity and innovation
- Marketing and advertising
- Opportunities
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Appendix
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