CIBC poll finds 8 in 10 Canadians showing love for local businesses when spending on Valentine's Day this year

A recent CIBC poll reflects a strong sentiment among Canadians to support local businesses this Valentine's Day, with 80% planning to do so. The survey reveals that more than half of Canadians (56%) intend to spend on the holiday, particularly amongst those currently dating, where 85% are inclined to celebrate. The younger demographic, specifically Canadians aged 18-34, are leading in spending, averaging $224, which surpasses the national average of $179.

Economic factors, particularly inflation, are influencing spending habits. Notably, only 12% of respondents indicated plans to increase their Valentine's Day budget this year, suggesting a trend towards mindful and budget-conscious spending. Carissa Lucreziano, Vice-President of Financial Planning and Advice at CIBC, highlighted that celebrating doesn't require extravagant expenditures, encouraging Canadians to adopt thoughtful budgeting practices to enjoy the holiday without jeopardizing financial goals.

The poll also indicates that nearly 69% of Canadians plan to celebrate in some capacity. The most common ways to mark the occasion include home-cooked meals (34%), quiet nights in (33%), and dining out (32%). Additionally, Canadians are incorporating a variety of expressions into their celebrations, such as gifting, writing special notes, and even volunteering, showcasing a diverse approach to honoring the day.

Conducted by Ipsos between January 22 and 26, 2026, the poll surveyed 1,500 Canadians aged 18 and older, providing insights into the nation's Valentine's Day spending habits and preferences amidst current economic conditions. The findings emphasize a collective desire to enjoy meaningful experiences while supporting local economies.

As Valentine’s Day approaches, new insights from a CIBC poll reveal that local businesses are poised to benefit significantly this year, with 80% of Canadians intending to support them in their celebrations. This trend emphasizes a growing preference for community-based spending, particularly as inflationary pressures continue to shape consumer behavior.

The survey indicates that 56% of Canadians plan to spend for the occasion, with the younger demographic (ages 18-34) emerging as the most willing to indulge, averaging $224 in expenditures compared to a national average of $179. However, only 12% of respondents expressed an intent to increase their spending due to ongoing budgetary constraints, showcasing a shift toward more mindful spending habits.

From an investment perspective, the strong support for local businesses marks a potential growth opportunity for investors looking to capitalize on community-oriented retail and service sectors, especially those promoting sustainable and meaningful consumer experiences. Companies that emphasize local sourcing and personalization in their offerings are likely to resonate well with consumers this Valentine’s Day.

Furthermore, Canadians are leaning toward thoughtful and budget-friendly celebrations, with popular choices including home-cooked meals and intimate gatherings. This suggests that businesses providing affordable yet unique experiences may find a captured market willing to spend on quality over quantity, particularly in service-oriented sectors like dining, entertainment, and artisanal gifting.

Overall, while consumers remain cautious with their budgets, the emphasis on supporting local enterprises presents both challenges and opportunities. Investors could strategically align their portfolios towards local businesses that exemplify ingenuity and community engagement, enhancing their positioning in a changing retail landscape where consumer sentiment highly favors local fidelity.