As Black Friday approaches in Canada, the holiday shopping season is experiencing a notable surge in retail sales, contrasting with earlier predictions of a quieter shopping experience. By noon on November 29, 2024, the average online shopping cart in Canada totaled $220.63, a significant increase from $172.80 last year. Major cities leading in purchases include Toronto, Montreal, and Vancouver, with popular product categories such as makeup, T-shirts, skincare, vitamins, and men’s underwear driving sales. Despite the increase in spending, average discounts across Canada were about 21%, which is down 11% from the previous year, indicating a shift in consumer behavior and retailer strategies.
The Retail Council of Canada anticipates that the average Canadian shopper will spend approximately $972 on holiday shopping this year, reflecting an increase of $73 or 8% from last year. Notably, 40% of this spending is expected to occur on Black Friday, while 36% is anticipated during Cyber Monday and the subsequent week. This shift suggests that Canadians are still engaging robustly with holiday sales, despite previous concerns over high inflation and rising interest rates affecting consumer spending habits.
Earlier in the season, many Canadians were reported to be more cautious with their spending due to economic pressures, focusing primarily on necessities and seeking out sales. Retailers have responded by offering sales earlier and implementing price guarantees to attract shoppers. The evolving landscape of Black Friday in Canada reflects a blend of cautious consumer behavior and a willingness to spend on popular items, demonstrating resilience in the face of economic challenges.
Overall, the current Black Friday shopping trends indicate a dynamic retail environment in Canada, where consumers are adapting to economic conditions while still participating actively in holiday shopping events.
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