The Rise of Black Friday Shopping in Canada
Most know the day after American Thanksgiving is not spent at home, but rather at the mall with all the “Black Friday” sales. The term was coined as retailers would turn a profit during the day, thus getting out of the red and into the black. More specifically, when accounting was done by hand and black ink was used to show a profit. The Friday after their Thanksgiving is celebrated with countless big-box and local stores offering door-crasher deals as well as hefty discounts. Even online retailers have “Cyber Monday”, as their day of deals. Countless people in the US head out to their local mall to get the best deals and start their holiday shopping early.
As one of the most popular shopping days in the United States, it has recently migrated north of the border into Canada. Now countless Canadian retailers are offering their own “Black Friday” sales in an effort to compete with their US counterparts. Many Canadian companies now offer discounts on most, if not all, of their merchandise in order to entice consumers. Malls are also embracing this new trend; many shopping centers are opening earlier than normal in order to increase the number of shoppers. Along with offering their own versions of Black Friday sales on the actual day, many retailers prolong their sales, offering sales for as long as a week.
All of these new strategies have been implemented in order to increase consumer spending in Canada and perhaps to cut down on the number of Canadians crossing the border to get their Black Friday shopping done in the States. And it’s worked. Countless Canadians now take either Black Friday or Cyber Monday off in order to shop and spend on these days. This gives Canadian retailers a huge profit boost, due to increased spending and foot traffic. Soon enough, Black Friday may even surpass Boxing Day as the busiest shopping day of the year as many Canadians use the day in order to get a majority of their holiday shopping done.
And while in Canada we don’t yet see millions of shoppers hitting the malls at all times through the night to get the best deals like in the United States, Black Friday continues to grow in popularity every year. Sooner rather than later, the Canadian versions of Black Friday may be just as busy and have as many discounts as the events south of the border.