Canadians who traditionally spent more time searching for shopping deals on Boxing Day are increasingly buying items on America’s retail holiday, Black Friday, instead, according to a new survey by Leger for the Retail Council of Canada.
The study reveals that 40 percent of Canadians plan on shopping and spending more on Black Friday this year, while 30 percent plan on participating in Cyber Monday—the Monday after the American Thanksgiving. Even though 35 percent plan on shopping on Boxing Day, they intend on spending considerably less than they will on Black Friday.
Almost 20 percent of Canadians surveyed said they were starting their holiday shopping earlier this year, and one in three said they already got a jump start on their shopping.
Those surveyed said they plan on spending less on electronics, appliances, furniture, and decorations this year than they did in 2017.
Most consumers are also focused on buying from Canadian retailers. Eighty-seven percent said that it was important to purchase items from merchants within the country. Thirty-five percent said buying from a retailer within Canada is more important in 2018 than it was in 2017.
Diane J. Brisebois, President & CEO, Retail Council of Canada, attributes it to national pride and the negotiation of the new U.S., Mexico, Canada agreement (USCMA).
“While our shopping habits appear to be shifting and becoming more in tune with our neighbours south of the border, Canadians are showing a greater interest in keeping our dollars at home this year,” she commented.
Sixty-six percent of Canadians intend on spending as much as they did last year—an average of $675. Most (74 percent) will be spent on in-store purchases.
An average of 24 percent will be spent online, which Brisebois says is good because it makes the retail marketplace more competitive. Nonetheless, Canada Post’s rotating strikes on eCommerce is making it more challenging.
The survey also found that 65 percent have firm budgets on holiday spending. However, last year 28 percent ended up spending more than they intended.
Most people will spend most of their budgets on food, alcohol, and sweets for entertaining (19 percent), clothing (17 percent), and toys (10 percent).
The survey involved 2,504 Canadians and their intended behaviours for the upcoming 2018 holiday shopping season.