Social media’s influence on holiday shopping decisions has declined, with all major platforms except YouTube seeing less engagement for shopping guidance.
Gen Z shoppers, in particular, have shown a notable shift away from social media, with TikTok experiencing the most significant drop, decreasing by 20 percentage points in usage for holiday shopping decisions.
Financial priorities differ by age, as nearly half of Gen Z shoppers (47 percent) prioritize saving this season, in contrast to 37 percent of Baby Boomers.
Casdin Parr, executive vice president of Retail Advisory Services at JLL Canada, commented on the substantial increase in holiday budgets, noting, “We’re seeing a significant jump in holiday budgets this year and a trend towards shopping for the holidays ahead of Black Friday deals.”
Parr also highlighted that this year’s increase is the largest since pre-pandemic times, with Canadians showing a strong preference for shopping centres as their primary holiday destination.
