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- In‑store sales dominate: 88% of total spending happened in-store and 12% online
- Total e‑commerce sales increased 7% compared to the prior year, reflecting total value of online purchases across all retail categories
- Clothing and accessories sales grew 10%, leading all retail segments
Visa, a global leader in digital payments, today released its annual Retail Spend Monitor from Visa Consulting & Analytics (VCA), offering a comprehensive view of Canada's holiday retail activity. Preliminary data shows that overall holiday retail spending increased 4.4% year over year across all payment types, including cash and cheque. These figures are not adjusted for inflation.
"Retailers delivered seamless shopping experiences both in stores and online, and consumers responded with enthusiasm," said Wayne Best, Chief Economist at Visa. "This season also marked a turning point, with artificial intelligence beginning to shape how people discover products, compare prices, and interact with offers. This led to a more informed, more intentional consumer, ensuring they could stretch their discretionary spending."
Key highlights include:
- In-store shopping remains strong: 88% of holiday payment volume was in physical stores and 12% online
- E-commerce continues to expand: Online retail spending increased 7% YoY, driven by extended promotions and continued convenience.
- Global Trends: Holiday spending momentum extended beyond Canada with notable increases in U.S. (+4.2%), U.K. (+3.6%), and Australia (+5.0%), reflecting strong consumer purchasing power across the globe.
Seasonal spending snapshot by category:
- Clothing and accessory purchases rose: This category saw a 10% lift (versus 5.3% last year) making it the fastest growing segment in Canada.
- One-stop shops spread the cheer: General merchandise stores saw a 9% lift (versus 2% last year) with consumers seeking convenience.
- ‘Tis the season for health and personal care: Retailers in this category saw a 5.4% lift (versus 3.5% last year).
The VCA Retail Spend Monitor analyzes retail sales activity over a seven-week period beginning November 1, using a subset of Visa payments network data in Canada and survey-based estimates for other payment methods.
"VCA empowers Canadian businesses to stay ahead of the curve by transforming emerging trends into actionable, data-driven strategies," said Lacy Lauks, Head of Visa Consulting and Analytics at Visa Canada. "The VCA Retail Spend Monitor reveals shifting consumer behaviours and equips Canadian businesses with the insights they need to thrive in the evolving commerce landscape."
The VCA Retail Spend Monitor is produced by Visa Consulting & Analytics' (VCA) global network of thousands of consultants, data scientists, and product experts from around the world. Their expertise combined with the power of VisaNet data – which represents over 329 billion transactions a year – helps clients identify trends and make data-driven decisions1. In the last year, VCA delivered nearly 4,500 consulting engagements that helped clients realize an estimated $6.5 billion in incremental revenue as a result.
To learn more about how Visa Consulting & Analytics can help clients turn data and insights into actionable business decisions, visit here.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
The views, opinions, and/or estimates, as the case may be ("views"), expressed herein are those of the Visa Consulting & Analytics team and do not necessarily reflect those of Visa executive management or other Visa employees and affiliates. This content is intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice and do not in any way reflect actual or forecasted Visa operational or financial performance. Visa neither makes any warranty or representation as to the completeness or accuracy of the views contained herein, nor assumes any liability or responsibility that may result from reliance on such views. These views are often based on current market conditions and are subject to change without notice.
1- Transaction data at June 30, 2025
Media Contact
Tracy Truong
Canadamediainquiries@visa.com
