New Research Reveals Consumers Are Prioritizing Smarter Spending This Holiday Season

Affirm Study Reveals Canadians Are Making Smarter Holiday Shopping Choices Amid Economic Uncertainty

Affirm (NASDAQ: AFRM), the payment network designed to empower consumers and support merchant growth, has released new research revealing that, despite ongoing economic uncertainty, Canadians are approaching their holiday shopping with strategy rather than restraint. According to the study, a majority (71%) of Canadians plan to spend the same amount or more this holiday season, but with a focus on smarter, more intentional purchasing decisions.

The research, conducted by Talker Research for Affirm, shows that Canadians are becoming more deliberate in their shopping habits. Over three-quarters (77%) of consumers are embracing the concept of “slow shopping,” meaning they are taking more time to evaluate whether a purchase is truly necessary or meaningful. Interestingly, nearly 60% (59%) of Canadians plan to complete their holiday shopping on or after Black Friday, spreading their purchases throughout December. When asked about the reasons behind this, the majority (55%) stated they wanted to purchase items that were meaningful, while 59% sought the best deals and promotions, and 39% took the time to research and compare brands and styles before making final decisions.

In addition to their thoughtful shopping strategies, Canadians are also turning to flexible payment options, such as installment plans, to make their money go further. Nearly half (48%) of respondents cited the ability to budget more effectively as a key reason for choosing “buy now, pay later” (BNPL) services. Many (42%) also noted the appeal of 0% APR offers, with nearly 40% (39%) placing as much or greater importance on 0% APR financing as they do on traditional discounts.

Wayne Pommen, Chief Revenue Officer at Affirm, commented on the shift in consumer behavior: “Canadians are taking a more mindful, value-driven approach to holiday shopping this year. Many are leaving their credit cards behind and opting for transparent, flexible payment options that allow them to shop responsibly. This helps them enjoy the season without the burden of hidden fees or compound interest. With 60% of shoppers prioritizing their budgets, retailers who offer installment options and 0% APR financing will be better positioned to meet these expectations and connect with today’s budget-conscious consumers.”

Mr. Pommen added, “When consumers choose Affirm at checkout, they gain access to exclusive deals with APRs as low as 0%, along with personalized credit offers and longer payment terms, making it easier than ever to shop responsibly and give meaningful gifts this holiday season.”

Survey Methodology

The survey, conducted between September 24 and October 2, 2024, was a random, opt-in study of 2,000 Canadians. It was commissioned by Affirm and carried out by Talker Research, a market research firm whose team is a member of the Market Research Society (MRS) and the European Association for Opinion and Marketing Research (ESOMAR).

About Affirm

Affirm’s mission is to provide honest financial products that improve lives. By building a new kind of payments network—one based on trust, transparency, and people-first principles—Affirm empowers millions of consumers to spend and save responsibly, while offering businesses the tools they need to grow. Unlike most credit card companies and other BNPL services, Affirm does not charge late fees or hidden charges, ensuring a stress-free financial experience.

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