New Research Reveals Consumers Are Spending Smarter, Not Less This Holiday Season
According to new research by Affirm, Canadian consumers are adopting a strategic approach to holiday shopping rather than cutting back. 71% of Canadians plan to maintain or increase their spending, with 77% embracing 'slow shopping' - taking more time to evaluate purchases. 59% plan to complete their shopping on or after Black Friday, focusing on meaningful purchases and best deals. The study reveals that 48% of consumers are choosing flexible payment options for better budgeting, while 42% appreciate 0% APR offers. Nearly 40% value 0% APR financing as much as or more than traditional discounts.
Secondo una nuova ricerca di Affirm, i consumatori canadesi stanno adottando un approccio strategico allo shopping natalizio invece di ridurre le spese. Il 71% dei canadesi prevede di mantenere o aumentare le proprie spese, con il 77% che abbraccia il 'slow shopping', prendendo più tempo per valutare gli acquisti. Il 59% prevede di completare i propri acquisti il giorno del Black Friday o dopo, concentrandosi su acquisti significativi e migliori offerte. Lo studio rivela che il 48% dei consumatori sta optando per opzioni di pagamento flessibili per una migliore pianificazione del budget, mentre il 42% apprezza le offerte con 0% di APR. Quasi il 40% valuta il finanziamento a 0% di APR tanto quanto o più degli sconti tradizionali.
Según una nueva investigación de Affirm, los consumidores canadienses están adoptando un enfoque estratégico para las compras de vacaciones en lugar de recortar gastos. El 71% de los canadienses planea mantener o aumentar sus gastos, con el 77% que acepta el 'slow shopping', tomándose más tiempo para evaluar las compras. El 59% planea completar sus compras el Black Friday o después, centrándose en compras significativas y mejores ofertas. El estudio revela que el 48% de los consumidores elige opciones de pago flexibles para un mejor presupuesto, mientras que el 42% aprecia las ofertas con 0% de APR. Casi el 40% valora el financiamiento a 0% de APR tanto como o más que los descuentos tradicionales.
새로운 Affirm의 연구에 따르면, 캐나다 소비자들은 비용을 줄이기보다는 명절 쇼핑에 전략적 접근 방식을 채택하고 있습니다. 71%의 캐나다인이 지출을 유지하거나 늘릴 계획이며, 77%는 '슬로우 쇼핑'을 받아들이고 있습니다 - 구매를 평가하는 데 더 많은 시간을 들이기 위해서입니다. 59%는 블랙 프라이데이에 맞춰 쇼핑을 완료할 계획이며, 의미 있는 구매와 최고의 거래에 초점을 맞추고 있습니다. 연구 결과, 48%의 소비자가 더 나은 예산을 위해 유연한 지불 옵션을 선택하고 있으며, 42%는 0% APR 혜택을 높이 평가하고 있습니다. 거의 40%는 전통적인 할인만큼 또는 더 많이 0% APR 금융을 중요하게 생각합니다.
Selon une nouvelle étude de Affirm, les consommateurs canadiens adoptent une approche stratégique pour leurs achats de Noël plutôt que de réduire leurs dépenses. 71% des Canadiens prévoient de maintenir ou d'augmenter leurs dépenses, avec 77% qui privilégient le 'slow shopping', prenant plus de temps pour évaluer leurs achats. 59% prévoient de terminer leurs achats le jour du Black Friday ou après, en se concentrant sur des achats significatifs et des meilleures offres. L'étude révèle que 48% des consommateurs choisissent des options de paiement flexibles pour mieux gérer leur budget, tandis que 42% apprécient les offres avec 0% de TAEG. Près de 40% attachent autant d'importance à un financement à 0% de TAEG qu'aux remises traditionnelles.
Laut einer neuen Studie von Affirm verfolgen kanadische Verbraucher beim Einkauf zu den Feiertagen einen strategischen Ansatz, anstatt ihr Budget zu kürzen. 71% der Kanadier plant, seine Ausgaben zu halten oder zu erhöhen, während 77% das 'Slow Shopping' annimmt – mehr Zeit für die Bewertung von Käufen. 59% plant, seine Einkäufe am oder nach dem Black Friday abzuschließen, mit Fokus auf sinnvolle Käufe und die besten Angebote. Die Studie zeigt, dass 48% der Verbraucher flexible Zahlungsoptionen für eine bessere Budgetierung wählen, während 42% 0% APR-Angebote schätzen. Fast 40% schätzen die 0% APR-Finanzierung genauso hoch oder höher als herkömmliche Rabatte.
- 71% of consumers plan to maintain or increase holiday spending
- 48% of consumers are adopting Affirm's flexible payment solutions
- 42% of consumers showing interest in 0% APR offers
- Strong consumer engagement with 77% practicing 'slow shopping'
- Delayed purchasing behavior with 59% postponing shopping until Black Friday or later
- Increased consumer price sensitivity and focus on deals may impact margins
Insights
This consumer spending research reveals significant strategic implications for Affirm's business model and market position. The 71% of Canadians planning to maintain or increase holiday spending, combined with 48% seeking buy-now-pay-later (BNPL) options for better budgeting, signals strong potential revenue growth. The shift toward "slow shopping" (77%) and interest in 0% APR financing (39% valuing it equally or more than traditional discounts) aligns perfectly with Affirm's business model. Particularly noteworthy is that 59% plan to shop on or after Black Friday, suggesting an extended holiday revenue period rather than concentrated spending. This consumer behavior trend could translate to sustained transaction volume and reduced processing strain on Affirm's systems.
The data points to a robust outlook for Affirm's revenue potential in the Canadian market. The high percentage of consumers embracing BNPL and showing interest in 0% APR financing suggests strong merchant adoption potential, as retailers seek to capture budget-conscious consumers. While 0% APR offerings might pressure short-term margins, they serve as an effective customer acquisition tool. The trend toward extended holiday shopping reduces operational risks and suggests more predictable revenue streams. The focus on budgeting and financial planning among consumers could lead to lower default rates, positively impacting Affirm's risk profile and potentially reducing loan loss provisions.
Study from Affirm finds that over
The study, conducted by Talker Research for Affirm, shows that over three in four consumers (
Canadians are also turning to flexible payment options like ‘pay over time’ to make their money go further. Nearly
Wayne Pommen, Chief Revenue Officer at Affirm, said, "As Canadians take a more mindful, value-driven approach to holiday shopping, many are leaving credit cards behind. Instead, they’re turning to flexible, transparent payment options that let them shop responsibly and enjoy the season without the stress of hidden fees and compound interest. With
Pommen added, “By using Affirm at checkout, consumers can find exclusive deals for as low as
Survey methodology
This random double-opt-in survey of 2,000 general population Canadians was commissioned by Affirm between September 24 and October 2, 2024. It was conducted by market research company Talker Research, whose team members are members of the Market Research Society (MRS) and the European Society for Opinion and Marketing Research (ESOMAR).
About Affirm
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network – one based on trust, transparency and putting people first – we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X.
AFRM-A
View source version on businesswire.com: https://www.businesswire.com/news/home/20241127484876/en/
Press Contacts:
Claire Battista
Affirm
press@affirm.com
Source: Affirm
FAQ
What percentage of Canadians plan to maintain or increase holiday spending according to Affirm's research?
How many Canadians are practicing 'slow shopping' according to AFRM's study?
What percentage of consumers value Affirm's 0% APR financing as much as traditional discounts?
When do most Canadians plan to complete their holiday shopping according to Affirm's research?
