With insurance such as car, home, and life being a necessity or becoming a necessity for Canadians, the industry is shifting to a space of relief and should anticipate a quick recovery post COVID-19.
The COVID-19 pandemic has significantly changed how consumers feel about their financial security. With rising unemployment and decreasing consumer confidence, individuals and businesses are looking more to their financial institutions for support. At the same time, some see the current market as an opportunity to jump into investing.
Canadians have increased their online shopping behaviour particularly for home furnishing, clothing and sporting/hobby goods all of which are popular holiday shopping categories, and we expect this to persist into the holiday shopping season.
Consumers had hesitations about bringing outside food into their homes, a shift in mindset occurred within days & volume has steadily increased since.