It seems like Black Friday madness in Canada is leaving Boxing Day in the dust!
A recent survey done by the Retail Council of Canada, an advocacy group showed that forty-three per cent of respondents to the group’s second annual holiday shopping survey planned to purchase items on Black Friday — up from 40 per cent the previous year. Only 34 per cent of respondents intended to shop on Boxing Day.
The Black Friday event — a sales windfall imported from the U.S., where retailers have long slashed prices the day after their Thanksgiving holiday — seemingly at the expense of another sales spree, Boxing Day.
Industry watchers say consumers plan to spend before Christmas and check gifts off their holiday lists, and the change offers retailers a slight edge.
Experts say that Black Friday is appealing in that it allows shoppers to save BEFORE Christmas when they need the discounts most.
Another survey by Deloitte Canada showed a similar down turn with shopping the Dec. 26th sales day. Only one out of three respondents wanted to shop during the stretched-out, week-long event. The same number said the earlier Black Friday and Cyber Monday sales changed their habits for Boxing Day.
Spending figures from previous years suggest this shifting consumer sentiment is ongoing.
Canadians made six per cent more debit transactions on last year’s Black Friday than in 2017, according to data from payment processor Moneris. Black Friday also earned the title of biggest shopping day of the year for transaction volume.
Meanwhile, Boxing Day growth slowed in 2018, and the Friday and Saturday before Christmas surpassed it in transactions and dollars spent. The shopping day “has dropped significantly in popularity with consumers,” Moneris said.
Black Friday is expected to once again be the largest shopping day of the season in the U.S., followed by the last Saturday before Christmas, according to MasterCard SpendingPulse, which tracks spending across all types of payments including cash and cheque.
Shopping habits have shifted and consumers want deals sooner than later in the Christmas season!
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