ICS follows similar seasonal trends in Q1 2024 but averages higher year-over-year
A weakening labour market is expected to apply downward pressure on consumer spending
Read MoreA weakening labour market is expected to apply downward pressure on consumer spending
Read MoreHigher Interest Rates Have Induced a Change in Consumer Spending Behaviour
Al's conversation with Sohaib Shahid Director, Economic Innovation, The Conference Board of Canada
Many fans across Canada either tuned in at home or turned out to celebrate at bars and restaurants. Moneris Data shows that for all of Canada, bar and restaurant spend was up over 10%.
The Montreal Canadiens may not have brought home the cup, but that didn’t stop fans from filling theirs at their favourite watering holes across the province as they cheered on their Habs.
The Calgary Stampede corresponded with easing restrictions across the province that helped everyone from retailers to restaurant owners take advantage of the crowds, resulting in some positive spend trends.
From amusement park fun to the return of travel plans, Canadian shoppers and business owners both had something to celebrate during this reopening weekend.
As Quebec began its first retail reopening phase on June 7, Quebecers resumed their consumption habits with their favorite local businesses.
When the province entered Phase 1 of its reopening plan on June 11, 2021, Ontarians spent the weekend dining at patios, attending outdoor fitness classes, shopping at non-essential retailers, and making trips to wine country and cottage country.
Forecasts based on previous observations assume that the past holds the key to the future, and that nothing else is required.
From contactless payments to emerging categories, businesses and consumers alike were able to adapt to our new normal in some surprising ways.