MONTHLY CONSUMER SENTIMENT STUDY

See how Canadian consumers feel about the economy & COVID.

Numerator’s monthly Consumer Sentiment Study provides ongoing insights to help brands better understand how consumers are faring in today’s increasingly dynamic marketplace. From inflation to the ongoing pandemic, consumers are facing multiple disruptions to their everyday lives and routines. Check back each month to keep a pulse on how consumers are feeling about the economy, the pandemic and other emerging market influences.

Last Update: 5/18/2023

Consumer financial concern remains high, but decreased in May.

Consumer financial concern remains high in May with 25% rating their level of concern as 10/10, on track with last month. Almost half (46%) of Canadian consumers still say personal finances are their top concern in the coming months. The majority of Canadians feel the country is in an economic recession (65%), but less are expecting inflation to worsen in the next few months (-8 pp).

COVID-19 concern remains low for many Canadians. 16% have a high level of concern for the virus, a three percentage point decrease from March. Only 3% view COVID-19 as their primary concern for the coming months, with an eight point decrease in concern around becoming infected with the virus.

Prices on essentials & gas continue to fuel economic concerns.

Concern regarding the economy remains high, with 58% of Canadian consumers rating their level of concern as 8/10 or higher. The primary concerns among all groups continue to be rising prices on goods & services, rising fuel prices, and entering/worsening economic recession.

Consumers are slightly more comfortable with discretionary spending.

68% of Canadian consumers say they’re currently uncomfortable splurging on premium items (-4 pp), while 67% are uncomfortable taking money out of personal savings / retirement accounts (-4 pp).

Pandemic concern remains low and decreasing in May.

Concern over COVID-19 remains low in May, with 16% of consumers saying they are highly concerned, down three points from April. Specific concerns regarding COVID-19 have decreased, including concern about becoming infected (-8 pp), hospital space and staffing (-5 pp), and canceling plans due to the virus (-3 pp).

About the Survey

Beginning in February of 2021, Numerator’s Canadian Consumer Sentiment survey has been fielded to roughly 1,000 consumers on a monthly basis. All consumers are active members of Numerator’s Canadian OmniPanel.

For past insights into Canadian consumer behaviour and sentiment as it relates to the COVID-19 pandemic, check out our survey insights from March 2020 through May 2022.

See the insights.