TORONTO — A new report says Canadians appear to be spending more this holiday season.
Digital payments company Visa Canada says preliminary data shows holiday retail spending was up 4.4 per cent year-over-year across all payment types, including cash and cheque.
The report, which doesn't adjust the figures for inflation, says 88 per cent of total holiday spending happened in-store, while 12 per cent came from online shopping.
It says Canadians spent more on clothing and accessories compared with last year, while one-stop shops were the top choice for consumers looking for convenience.
Visa chief economist Wayne Best says this season also marks a turning point for shoppers as artificial intelligence begins to shape how people discover products, compare prices and interact with offers.
He says this led to a more informed and intentional consumer, making sure they could stretch their dollar.