Save on Gifts This Season: Shop Holiday Sales Early

Have you started your holiday shopping yet? Many Canadians are checking items off their lists earlier than usual—whether for Christmas, Kwanzaa or Hanukkah. Last year’s supply-chain headaches eased somewhat, but inflation and tighter household budgets are pushing shoppers to buy sooner in case prices climb further. Retailers, facing excess inventory and concerns about an economic slowdown, began discounting items early in the season to encourage sales.

Canadians are shopping earlier and comparison-shopping more

Financial pressure is reshaping how Canadians approach holiday shopping. Deloitte Canada’s 2022 Holiday Retail Outlook reports that shoppers are feeling a mix of caution and optimism as they plan for the season. According to Deloitte’s national retail leader Marty Weintraub, the current environment is unusually complex—with geopolitical tensions, economic headwinds and lingering supply-chain issues all contributing to uncertainty.

Key findings from Deloitte’s survey of 1,000 Canadians, completed in early September, include:

76% expect holiday prices to be higher than last year.
37% are shopping earlier than they did previously.
Many plan to hunt for sales (60%), favor retailers with the lowest prices (70%), or switch brands if their first choice is too costly (72%).
Average planned holiday spending is $1,520, down 17% from $1,841 the previous year.
Among those planning to spend less, the main reasons are higher food costs (76%), inflation concerns (67%), and broader economic worries (60%).

Fewer purchases, but more meaningful gifts

To control spending, many Canadians are buying fewer items, trimming their gift lists, and choosing more meaningful presents. Deloitte’s research shows that cuts are concentrated in personal non-gift categories—non-gift electronics (-55%), travel (-30%), and non-gift apparel (-27%)—while gift purchases and gift cards fell more modestly (down about 10%). In short, people say they’ll reduce discretionary purchases for themselves while preserving gift-giving for others.

Photo by Gift Horse + Co. wrapping services

The Retail Council of Canada similarly found that most Canadians still plan to buy gifts, but over half (62%) say they’ll purchase more meaningful items for fewer people. Interac’s research also reports a rise in “intentional spending,” where shoppers pause to ensure purchases align with financial goals and personal values. That approach often means delaying or skipping non-essential buys and making more thoughtful choices.

Interac’s Nader Henin notes that intentional spending can bring positive feelings—control, discipline and empowerment—because people weigh the value of each purchase. Customers increasingly want tools that support deliberate spending choices.

Hands tie a bow on a box wrapped in Christmas paper — Photo by Karolina Grabowska from Pexels

Avoid a holiday spending hangover: use debit and check cards

With many households wary of adding to debt, debit card use is trending upward during the busiest shopping months. Interac’s survey found four in 10 Canadians are hesitant to charge holiday purchases on credit cards. Using debit can help maintain control by limiting spending to money already in your account.

If you do use credit, make sure your card’s rewards—points or cash back—match your spending habits, and review fees to avoid paying for benefits you don’t use.

Which day is the busiest for in-store shopping?

If you want to avoid crowds, choose Sunday for in-person shopping—Moneris’ transaction data ranks days of the week by mall busyness as follows (from busiest to least busy):

Friday
Thursday
Monday to Wednesday
Saturday
Sunday

Black Friday remains the single busiest shopping day overall—both in transaction volume and dollars spent—so many shoppers prefer to take advantage of online deals that day.

How to get the gifts you want—on time and on budget

Although supply-chain disruptions have improved, some items may still be scarce. In addition to shopping earlier, consider these practical strategies to secure thoughtful gifts without overspending:

Compare prices. Use price-comparison tools and apps to find the best offers. If you have your heart set on a particular item, remember that deep discounts often appear around major sale events like Black Friday and Boxing Day.
Use portals and promo codes. Check loyalty program shopping portals, cash-back sites and browser extensions for promo codes and rebates. Sometimes contacting a retailer directly via social media can yield a discount code.
Be flexible on models and brands. If the exact item you want is unavailable, consider older models, comparable alternatives, refurbished goods or high-quality second-hand items backed by warranties.
Buy local. Ordering from Canadian vendors, small businesses, artisans or local markets can reduce delivery times and support local economies—plus you’ll often find unique, thoughtful gifts.
Give a food experience. Restaurant gift cards or delivery-service vouchers make great presents and avoid shipping delays.
Choose digital gifts. E-gift cards, streaming subscriptions, audiobooks and digital memberships are instant and convenient for last-minute shoppers.
Get cash back. If discounts aren’t available, use a cash-back credit card or rewards card to recoup some value from purchases.
Redeem points. Holiday season is a smart time to spend accumulated rewards points on gift cards or merchandise.
Give time and experiences. Consider gifting shared experiences or homemade offerings—such as a special meal, a curated “movie night in” or passes to local attractions.
Donate in their name. For people who are hard to shop for, a charitable donation can be a meaningful alternative that gives back to the community.

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