Sun. Mar 3rd, 2024

Inflation slows down Black Friday shopping

Open in full screen mode

Customers at an Apple store during Black Friday in New York, United States.

The Canadian Press

Feature being tested

Log inCreate my account

Voice synthesis, based on artificial intelligence, allows you to generate text spoken from a written text.

While many shoppers flock to malls to hunt for Black Friday deals, Dianne Debarros will be on the lookout for discounted toys and laptops that her children will soon need for school .

The Sarnia, Ont., resident has already started her Christmas shopping, but wants to top off her purchases by visiting Real Canadian Superstore, where the chain is giving away loyalty points in exchange for $100 in purchases in some of its departments .

I feel like in recent years sales and prices weren't very good, but this year, the prices seem reasonable and the incentives are there, Ms. Debarros observed. She and her partner, Tom, run a bargain-hunting social media account on Instagram and TikTok.

The pre-Christmas mega sale will be especially welcomed by Canadians who are feeling stressed about money this year.

Inflation remains above the Bank of Canada's 2% target, keeping prices high for household goods and major purchases even as the Rising interest rates are pushing up mortgage payments for many homeowners.

The combination of factors is encouraging more Canadians to look for deals and even to reduce their holiday spending.

Deloitte predicts that the average Canadian shopper will spend $1,347 this holiday season, a decrease of 11 % compared to last year.

About half of the more than 1,000 Canadians surveyed by the consulting firm plan to buy only what their family needs this holiday season. Some 71% will look for items on sale and 29% will opt for cheaper retailers to shop.

Canadians are really looking to stretch their dollar, said Ms. Debarros.

Together, the couple gives tips on how to save money on purchases, making Black Friday a special time of year.

However, this day has not always been one of the greatest occasions for shopping.

Its origins date back to the 1960s, when people flocked to Philadelphia for Thanksgiving and an annual military football game held in the city. Police officers had to work long hours and deal with an influx of sometimes rowdy visitors, prompting them to start calling the period Black Friday.

Retailers – hoping to attract customers – eventually adopted the name and began using the date to offer sales. Over time, Black Friday sales spread across the country and, more recently, Canada.

Now it is so common for stores to offer Black Friday sales that many have extended this practice to the month of November.

But some argue that nature more long sales period made the day itself less important to Canadians.

Black Friday has lost its luster, lamented Nick Muriella, vice president of merchandising and supply chain at Toys' R'Us Canada.

His sighting came a week before Black Friday. At that time, many stores had already been offering discounts since the beginning of November. So he concluded that Black Friday had simply become another way of saying sales.

Staples Canada started sales on November 1 because&#x27 ;she noticed that consumers were shopping earlier.

They are really trying not to leave at the last minute, said Rachel Huckle, president and COO of the retailer.

What many clients have told us is that when they leave it at the last minute, they usually rush and therefore make decisions they otherwise wouldn't have. not taken at a certain price point, frankly out of desperation.

To alleviate some of this rush, the chain introduced guarantees that some of its products will not see their prices drop further during the holiday season, so shoppers can feel confident in their purchases.

Despite extended sales and warranty, Huckle still expects to see people filling her company's stores on Friday, as many consider that the day they will step up their shopping.

Others, she said, will be creatures of habit.

By admin

Related Post