Back-to-school spending to increase 4.5% in Canada

By

Jennifer Braun

Published
Jul 22, 2016

Back-to-school spending in Canada in 2016 is set to be 4.5 percent higher than last year, according to a study by EY, a Canadian company that studies retail-related issues.
 
The highest retail sales are expected to be seen in the province of British Columbia, followed by the province of Ontario, while sales in Quebec and the Atlantic provinces are expected to be in line with the national average. The Prairies are expected to be below the national average and Alberta sales are not expected to grow.
 

"Year over year lower gas prices, a stable but low Canadian dollar, some price inflation, and enhanced Canada Child Benefits are expected to drive back to school spending in most, but not all, parts of the country," explains Daniel Baer, EY partner and National Retail and Consumer Products Leader, in a news statement.  
 
Besides economic factors, according to a recent EY report, Gen Z's growing buying power will also influence back-to-school sales.

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Though parents will generally still call the shots around things like supplies, Gen Z will influence purchasing decisions on clothing and shoes.
 
EY is a global leader in assurance, tax, transaction and advisory services.