Retailers feel Black Friday pressure as Canadians expected to tighten their spending
CBC
Businesses are under pressure to get in on Black Friday sales and start them early as Canadian shoppers are expected to pull back this holiday season.
That means more of what we've seen in recent years: businesses extending their promotions to offer deals from after Halloween until late December, according to the Retail Council of Canada (RCC).
“[Black Friday] is now more like a season than a day,” said Santo Ligotti, vice president of marketing and membership with the RCC.
“Smart retailers are going to continue to have offers throughout that period to continue to attract [shoppers].”
And for some small stores, in order to keep pace with the larger industry and match consumer expectations, they’re now offering Black Friday deals.
But this year brings a major challenge: rising prices have people planning to spend less this holiday season. While not representative of the overall Canadian population, several recent surveys highlight that trend.
One recent survey from the Bank of Canada, also found that all of the uncertainty from trade action is weighing heavily on consumers, “significantly dampening their spending expectations.”
Because of all of this, Ligotti with the RCC said price is king this season.
“Price is the top filter for Canadians. They’re waiting for sales, price matching and buying discounted,” he said.
In a bid to appeal to people’s pocketbooks, some small businesses, like local gift and homegoods shop Wolf & Rebel in Windsor, Ont., are pushing their first ever Black Friday sale.
“With the tariffs and everything, our prices have increased, and I think that it’s just become not as affordable for most people,” said shop owner Annie Vanrivong.
“People are struggling paying their groceries. So coming to a place like ours, I feel like it is a luxury, like buying these little knickknacks.”
Vanrivong says the one-day only, up to 50 per cent discount won't do all that much for her bottom line, but she hopes it boosts foot traffic in her store and sells items that aren’t moving from the shelves.
Homegoods and furniture store owner Fanny Vergnolle de Villers, of VdeV, says this is only her second year doing a Black Friday sale, but she realizes it’s what customers expect these days.
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