Despite predictions that Black Friday sales in Canada would surge this year, a survey conducted by Dig360 and AskingCanadians shows the majority (74%) of respondents did not do any shopping on that day, either in a store or online.
Boxing Day still remains the biggest sales event of the year for Canadians. A recent BMO Holiday Spending Outlook suggests 59 per cent of Canadians will go shopping this Boxing Day.
The Christmas shopping season is an important time for Canadian retailers, accounting for 30% of annual sales and more than 40% of a retailerâ€™s annual profits. In an attempt to compete with retailers south of the border, Canadian retailers began offering Black Friday discounts two years ago.
While Black Friday did not bring in as many shoppers as predicted, it appears to be here to stay. â€œI canâ€™t imagine retailers not planning for Black Friday (sales) in the future. It is here to stay. Weâ€™ve got this buzz now around Black Friday, and thereâ€™s now a collective industry-wide movement.â€ says retail consultant David Ian Gray of the firm Dig360.