What you need to know
Holiday shopping represents the most lucrative time of year for retailers across all categories, much of it driven by Christmas. For the upcoming holidays, nine of 10 Canadians will be buying gifts. In times of widespread discounting and consumers tightening their budgets, creating value through means other than price-cutting may sway consumers while limiting margin losses for retailers. Marketing “new” traditions and associated decorations as “the” way to celebrate may help elevate Thanksgiving spending, particularly since immigrants and families are already celebrating this occasion (but to a lesser extent than in the US).
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