Canadian Holiday Insights 2020 Economic Overview & Key Holiday Trends

Our recovery journey so far:

  • Employment continues to recover to expected pre pandemic levels.
  • Certain industries have recovered better than others.
  • Categories associated with living and working from home had significant YoY growth.
  • Younger Canadians are expected to spend less and save more.
  • Home furnishing, clothing, and sporting/hobby goods consumer shift towards e-commerce.
  • Consumers shift away from cash transactions.

Steady Recovery in Employment since Pandemic Peak

Employment hit its lowest point in April, but has since recovered to 94% of expected pre-pandemic levels.

This has been buoyed by government transfers to households which in some instances have exceeded lost income, resulting in an increase 10.8% in disposable income.

In general, both service and goods producing sectors have been equally affected by COVID-19.

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