Fri. Feb 23rd, 2024

More thoughtful purchases during the post-Christmas sales according to an expert

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Canadians are moving certain purchases to sale days to take advantage of the best deals, according to Retail Council of Canada.

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Despite inflation, Canadian consumers are still out in force for the post-Christmas sales. However, with the increase in the cost of living hurting the wallet, purchases risk being “more thoughtful” according to the professor of consumer sciences at Laval University, Maryse Côté-Hame.

According to the Retail Council of Canada (RCCD), in a survey published in October 2023, Canadians are fond of days that offer discounts.

More and more people are putting off major purchases, waiting to take advantage of deals, explains the organization.

For Maryse Côté-Hamel, Canadians intend to make more purchases, compared to last year, during the post-Christmas sales, on Black Friday or other days which offer discounts to obtain your purchases at the lowest price.

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Canadians plan to make more purchases, year-over-year last, during sales days.

This period will be an opportunity for consumers to stock up on items they have needed for some time now, mentions Maryse Côté-Hamel.

When shopping during the post-Christmas sales, consumers will be more likely to spend gift cards or cash than they received.

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On the other hand, they will be looking for the best return on investment when making their purchase, she emphasizes.

Consumers are particularly sensitive at a discount this year.

We also observe more planning, and therefore questioning. What do we really need? Where would be the best place to obtain the product? There is more price comparison between stores too. No more searching for information to ensure you are purchasing the right product.

A quote from Maryse Côté-Hamel, professor of consumer sciences at Laval University.

On the other hand, inflation does not affect all stock markets in the same way, specifies Maryse Côté-Hamel.

In Saskatoon, several people met in various retail parking lots mention that inflation has changed the way they consume during this sales period this year.

L inflation affects me a lot because before, I used to do a lot of shopping during the post-Christmas sales. Now I have to think about everything I have to buy, explains Love Preet in the parking lot of a Best-Buy.

For others, inflation has certainly had an impact on their budget, but it has not changed their spending habits.

See these Consumers going to the store is a plus for retailers, says Maryse Côté-Hamel.

Indeed, she says, they will be able to do well, since it is the return of in-person shopping, which leads to more impulsive purchases.

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