Visa Analysis: Canada Holiday Spending Rises 4.4%

Executive Summary

• Visa Consulting & Analytics released its annual Retail Spend Monitor for Canada, showing overall holiday retail spending up 4.4% YoY across all payment types.
• In‑store purchases accounted for 88% of holiday payment volume, while e‑commerce grew 7% year over year.
• Clothing and accessories led category growth with a 10% increase, outpacing other segments.

Key Details

• Overall holiday retail spending in Canada increased 4.4% YoY (pre‑inflation adjustment).
• In‑store payment volume: 88% of total holiday spend; online: 12%.
• E‑commerce growth: +7% YoY across all retail categories.
• Category performance:
• Clothing & accessories: +10% (vs. 5.3% prior year).
• General merchandise: +9% (vs. 2% prior year).
• Health & personal care: +5.4% (vs. 3.5% prior year).
• International holiday spending trends: U.S. +4.2%, U.K. +3.6%, Australia +5.0%.
• Data source: Visa payment network subset for Canada plus survey‑based estimates for other payment methods, covering a seven‑week period starting November 1.
• VCA’s broader impact: ~4,500 consulting engagements in the prior year generated an estimated $6.5 billion in incremental revenue for clients.

Notable Quotes

“Retailers delivered seamless shopping experiences both in stores and online, and consumers responded with enthusiasm,” – Wayne Best, Chief Economist, Visa

“VCA empowers Canadian businesses to stay ahead of the curve by transforming emerging trends into actionable, data‑driven strategies,” – Lacy Lauks, Head of Visa Consulting and Analytics, Visa Canada