The American Black Friday and Cyber Monday phenomenon seems to be catching on north of the border.
A Moneris Solutions survey shows Canadians spent 6.5 per cent more on Black Friday this year than last, while Cyber Monday sales spiked more than 22 per cent.
As a result, more retailers are already looking ahead to next year with a plan to embrace Black Friday.
“I think it’ll be even bigger next year,” said Moneris’ Malcolm Fowler. “I don’t think there’s much doubt that these two events are becoming more and more entrenched in the Canadian retailer’s psyche.”
Pushing the increase on Black Friday was a 15 per cent jump in electronics sales. On Cyber Monday, online clothing sales jumped nearly 77 per cent, and online shoe sales spiked 112 per cent compared to 2011.
The numbers from this poll point to a good holiday season, running counter to a number of surveys taken earlier.
“There’s been a lot of negative news about what the holiday season might bring to retailers, and this is one of the first examples where we’ve seen better-than-expected results, I would say,” Fowler added.
The increased spending on both shopping days is also a sign that Canadians won’t cross the border as often in order to save money.
“[The deals] keeps people shopping in Canada. I also think that the Black Friday stuff is another example of how retailers in Canada are adapting to try and keep customers here,” Fowler said.
Canadians spend more on Black Friday in 2012
Ed H, , and news staff
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