Holiday retail spending set to rise 4.4% in Canada from last year: Visa

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.

This report by The Canadian Press was first published Dec. 23, 2025.

The Canadian Press