Canadian consumers are in a festive mood this holiday season.
Data from credit card giant Visa (V) shows that retail spending across Canada this Christmas is up 4.4% from last year.
Even more encouraging, Visa says that consumer spending is up across all payment types, including cash, cheque and cards.
The report from Visa also says that 88% of total holiday spending occurred in-store, while 12% came from online shopping by Canadians.
E-commerce shopping is up 7% year-over-year, driven by extended promotions and as consumers seek the convenience of making purchases online.
The report notes that Canadians spent more on clothing and accessories, up 10% from last year, while one-stop shops were the top choice among consumers.
Health and personal care items were also on many people's shopping list as the category saw sales rise 5.4% compared to 2024 levels.
Visa’s stock has risen 12% this year to trade at $353.38 U.S. per share.
Tech Insider
