Canadians flock to Black Friday deals

Canadian shoppers are increasingly circling Black Friday—one of the biggests shopping day in the U.S.— on their holiday calendars, shows the 2013 BMO Holiday Spending Outlook.

Nearly half of Canadian consumers are planning to shop this Black Friday, up 15% from 2012, says BMO. Black Friday, the day following American Thanksgiving, traditionally marks the beginning of the holiday shopping season for consumers south of the border.

Read: Expect holiday deals from challenged retailers

In fact Black Friday is gaining on the popularity of Canada’s own discount day: 47% plan to shop on Black Friday this year, up from 41% in 2012. This Boxing Day, 59% are planning to shop, down from 62% in 2012

The survey also shows:

• Those planning to make purchases on Black Friday this year expect to spend an average of $292

• Black Friday shoppers are twice as likely to make purchases exclusively for others rather than for themselves (15% versus 7%)
• Atlantic Canadians are expected to spend the most on Black Friday ($331), followed by Albertans and Ontarians ($330 and $319, respectively).

Read: Canadians cut holiday gift budgets

Canadian retailers are trying to compete with their counterparts in the U.S., and the gap between American and Canadian prices for goods, while still significant, is shrinking, says BMO.

“Canadian holiday retail sales receipts, excluding auto and gasoline sales, should increase by roughly 2%, year over year, in the November to December period,” adds Doug Porter, Chief Economist, BMO Capital Markets.

Read: Buy gifts online to save cash

Regional Findings

Staff

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