Canadians look for Black Friday deals but plan to spend less: Deloitte Canada
BNN Bloomberg
Many consumers are taking advantage of Black Friday sales, but Canadians are planning to spend less this holiday shopping season than in any of the previous four years, according to a Deloitte Canada study.
The firm’s annual holiday retail outlook study found that Canadians plan to spend 11 per cent less this year than in 2022, for an average of $1,347. That’s lower than the $1,520 people planned to spend on holiday shopping in 2022 and the total of $1,841 in planned spending for 2021.
“The rest of the holiday shopping season is going to be really challenging,” Deloitte Canada’s national retail leader Marty Weintraub told BNN Bloomberg in a Thursday television interview.
He said that during the lead up to Black Friday, which is the unofficial kickoff to the holiday shopping season, Canadians went on the hunt for the best deals in an attempted to stretch their tight budgets as far as possible.
