Canada: Consumer Profile

October 2024

Canada has an ageing population and a modest birth rate. Its population in 2023 continued to be mainly city-based, and bolstered by immigration, adding to increasing racial-ethnic diversity. Canada’s homes have excellent broadband access and there has been widespread adoption of digital technologies. Due to rising living costs, many Canadians are trying to curb their spending and are focusing on low-cost goods and services. Health and sustainability continue to be areas of concern.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Canada report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Canada report answers:

  • How consumers in Canada are changing? 
  • What are key changes in Canada population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Canada and how it is changing consumer landscape?
  • What are key income groups in Canada? What is the outlook for the future?
  • Where consumers are  spending the money in Canada? 
  • How is the consumer mindset in Canada changing?
  • In Canada, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Canada?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in Canada in 2023
How developments today shape the consumers of tomorrow
Today 2023: Millennials overtake Baby Boomers as the largest generation
Today: Ageing population bolstered by net migration as birth rate remains low
Physical exercise is the most popular activity to combat obesity, a rising health risk factor
Tomorrow 2040: Canada’s population aged 65+ grows further as life expectancy increases
Tomorrow: Generation Z will be crucial consumers and largest generation in 2040
Workforce and city populations set to expand as urbanisation and migration continue
Opportunities for growth
Case study: Walmart Canada brings “store of the future” to Mississauga, Ontario
Today 2023: Household size shrinking, but couples with children still spending the most
Today: Single person households grow rapidly, while housing crisis looms
A detached, energy-efficient home in a safe location is the Canadian ideal
Tomorrow 2040: Adult-only households with broadband internet access will lead
Tomorrow: Household heads to be males aged 60+ as traditional gender roles persist
Widespread adoption of digital technologies opens doors for smart tech businesses
Opportunities for growth
Case study: Philips Hue Smart lighting products grow in popularity
Today 2023: Strong middle class supports growth in purchasing power
Today: Canadians plan to cut back on spending as housing and transport costs dominate
Gen X most concerned about finances, while Gen Z plans to increase spending in all areas
Tomorrow 2040: Average earnings to grow and rural/urban income gap will decrease
Tomorrow: Income growth aided by women and those aged 45+ as gender pay gap reduces
Consumer spending to rise slowly, with housing and transport remaining the top expenses
Opportunities for growth
Case study: Temu introduces value-focused third party marketplace
Key findings: Consumer survey
Clash of values, with younger generations less keen to pay more for local produce
Canadians’ appetite for bargains and second-hand items outstrips global average
Environmental consciousness on the rise, with eco-conscious Baby Boomers most active
Canadians are pessimistic about their finances, but Gen Z are saving for their future
As unemployment rises, Gen Z wants a high salary, while Gen X prioritises work-life balance
Opportunities for growth
Case study: Humble Potato Chips seize sustainable snacking opportunity
Key findings
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