Retail Conditions Report – Spring 2023June 14, 2023
Each quarter, Retail Council of Canada surveys members from coast to coast to bring you the latest news on the retail industry's performance across Canada. The Retail Conditions Report provides members with valuable, real-time insight into consumer behaviour, best practices in retailing, trends, and economic conditions.
Consumers Take A “Measure Twice, Cut Once” Approach to Shopping
Retailers in almost all formats adjust to a more discerning customer who is making very considered decisions on where and how they shop.
Retailers described a "Measure Twice, Cut Once" (as the carpenters like to say) consumer. They are discerning, watching their spending closely for one of three reasons: they are financially cautious or stressed. They are still enjoying the products purchased during the great COVID era buy-forward, or they are aggressively shifting priorities from goods to experiences, particularly travel. This is particularly impacting discretionary goods, and electronics and big ticket furniture.
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