Holiday Budgets Under Pressure as Nearly Half of Canadians Plan to Spend Less This Year

New Rakuten.ca survey shows how rising costs and economic uncertainty are shaping holiday spending

TORONTO, Oct. 09, 2025 (GLOBE NEWSWIRE) -- The holiday season may be the most wonderful time of the year, but for many Canadians it is also one of the most financially stressful. A new survey from Rakuten.ca Canada reveals that more than half of Canadians (54%) find holiday gift shopping stressful, while 56% say budgeting for the holidays adds pressure to an already busy season.

With findings that underscore how critical it has become for Canadians to maximize their spending power, Rakuten.ca helps shoppers reclaim value on holiday spending with Cash Back for every purchase during the season. Whether it’s gifts, entertaining essentials or everyday needs, Rakuten.ca turns stressful shopping into meaningful savings that help ease the pressure of the holidays.

Nearly half of Canadians (48%) say they plan to rein in their holiday spending compared to last year, signaling that economic pressures and financial stress are influencing how shoppers want to approach the season. Despite those intentions, many Canadians still expect the holidays to come with a hefty price tag: 45% anticipate spending over $500 on gifts, and one in five will surpass $1,000.

“Economic uncertainty has Canadians watching their spending, but the combination of holiday season demands and rising costs continues to drive overall spending up,” says Jennifer La Forge, General Manager of Rakuten Canada. “We’re finding that stacking strategies that combine multiple savings opportunities, like taking advantage of Black Friday and Cyber Monday deals and using Rakuten.ca to earn Cash Back, can help Canadians stick to their goal of spending less, while still covering their holiday must-haves.”

This time of year, Canadians are sharpening their savings strategies, with 82% saying they do whatever they can to cut holiday costs and 68% preferring to wait for sales. Rakuten.ca will boost Cash Back offers around Black Friday and Cyber Monday, giving members the opportunity to stack savings on top of already deep discounts. Now with Interac, a Rakuten.ca partner, members can receive their Cash Back faster and more securely through e-Transfer - putting money back into their pockets at the time of year they need it most.

“The holiday season can be overwhelming, between entertaining, gift buying, travel, and managing everyday expenses, the costs add up quickly,” says Personal Finance Expert and National Media Personality Melissa Leong. “That’s why it’s so important to find simple ways to ease the financial load. Leveraging Cash Back through Rakuten.ca, especially during major sales events like Black Friday and Cyber Monday, gives us all a little more breathing room so they can enjoy the traditions and moments that matter most.”

Key survey findings:

Holiday stress is real: 54% of Canadians say gift shopping is stressful; 56% cite budgeting as a key challenge.
Big budgets at play: Nearly half (45%) of Canadians expect to spend over $500 on gifts this year, with one in five (21%) planning to spend more than $1,000.
Economic uncertainty weighs heavy: 63% expect tariffs to impact gift shopping and almost half (48%) plan to spend less this holiday season than last year.
Value-seeking behaviour is the norm: 82% of Canadians say they do what they can to save money while gift shopping, and 68% prefer to wait for items to go on sale.
Rakuten.ca leads the pack: Rakuten.ca Canada is the most used (15%) and most recognized (61%) online coupon/cashback site among Canadians, outpacing competitors.

Rakuten.ca connects Canadians to over 750 retailers, helping them save while checking off every item on their holiday list. To start earning, visit Rakuten.ca or the Rakuten app and search for a retailer before shopping. Or download the Rakuten Button – an extension for Chrome, Safari, Firefox and Edge – that automatically alerts shoppers when Cash Back is available. For shopping inspiration, explore popular retailers including:

Gifts That Delight: Sephora, Aēsop, Mejuri, Etsy, Stubhub, Ticketmaster, Lego, Golf Town, Goop, Sunglasses Hut, Bass Pro Shops, and more.

Festive Hosting: Edible Arrangements, Lindt Chocolate, Michael’s, Skip The Dishes, Instacart, Hello Fresh, Party Expert, and more.

Fashion & Style: Roots, Holt Renfrew, Coach, Nike, Alo Yoga, Anthropologie, Jimmy Choo, Birkenstock, American Eagle, Gap, H&M, Banana Republic, Calvin Klein, Levi’s and more.

Travel: Expedia, Hotels.com, Viator, Air Canada Vacations, Avis, Best Western, Flight Centre, Marriott International, and more.

Everyday Essentials: Well.ca, Walmart, Giant Tiger, Home Hardware, GE Appliances Canada, and more.

Gift Cards: Canadian Tire, Tim Hortons, Indigo, Uber / Uber Eats, Esso, Loblaws, Petro-Canada, Shoppers Drug Mart, Real Canadian Superstore, Toys R Us, Sobeys, Foodland, and more.

Shop Canadian: Knix, Lululemon, Mackage, Pet Valu, Sporting Life, Aldo, and more.

About Rakuten.ca
For over 10 years, Rakuten.ca is a leading shopping rewards program that offers Cash Back, deals and rewards from all your favourite brands. By partnering with over 750 brands in apparel, health and beauty, travel, on-demand services, subscription boxes and more, Rakuten helps Canadians get more from the things they buy. Since launching in 2012, Rakuten has become the largest and most rewarding shopping experience, and its 7 million members have earned $140 million in Cash Back just for shopping through Rakuten. For more information, visit Rakuten.ca.

About This Study
These findings are from a survey conducted by Rakuten Canada from September 16th to September 18th, 2025, among a representative sample of 1500 online adult Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.53 percentage points, 19 times out of 20.

For more information or media requests please contact:
Daliah Hijazi Marsons: daliah.marsons@narrativexpr.com | 647.638.3257

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