EP313 Canadian Holiday Spending Outlook with Myles Gooding, PwC

Young Money with Tracey Bissett

How are Canadians navigating the holiday season amidst economic challenges and evolving retail landscapes? In this episode of Young Money, I’m joined by Myles Gooding, PwC Canada's National Consumer Markets Leader, to explore the Canadian Holiday Outlook Survey's findings.

Listen as we dive deep into the spending behaviors of different generations and examine how cutting-edge retail technologies like AI, AR, and the metaverse are revolutionizing the way we shop. Myles also offers a wealth of insights into the current trends shaping Canadian consumer habits, as well as why Canadians are increasingly focusing on travel, supporting local businesses, and making socially responsible decisions in their holiday shopping.

“Safety concerns now in the rearview mirror, in-store shopping is actually continuing to make a pretty large number.” - Myles Gooding

This Week on Young Money:

• Insights into consumer spending trends.
• The impact of inflation on consumer choices and spending habits.
• The role of emerging retail technologies in enhancing the shopping experience.
• Generational differences in holiday spending.
• The growing popularity of 'Buy Now, Pay Later' among Gen Z consumers.
• The importance of supporting local businesses and making socially responsible purchases.
• Strategies for managing holiday expenses and staying financially fit.

Key takeaways:

1. Understand the changing dynamics of consumer spending.
2. Recognize the influence of technology on modern shopping.
3. Learn how different generations approach holiday spending amidst economic challenges.
4. Discover the significance of socially responsible and community-focused purchasing.
5. Gain insights into effective budgeting and financial planning for the holidays.

Resources Mentioned:

• 2023 Canadian Holiday Outlook
• EP247 Buy Now, Pay Later 101
• EP262 Taking Control of Our Money with Kelley Keehn

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