Black Friday is over and Cyber Monday Canadian shoppers are looking for deals, but they're shopping differently this year.
Jeff Doucette of Field Agent Canada told Global News that demand for promotions remains strong.
“Ninety percent of Canadians wanted to shop and get great deals during Black Friday or leading up to Cyber Monday weekend,” he said. “People are actually taking advantage of Black Friday deals to buy things like laundry detergent and just things they use at home every day.”
Even with the sales, shoppers say budgets remain tight. The average Canadian plans to spend less than $500 on gifts this year.
“Their salaries haven’t necessarily gone up,” Doucette said. “They don't have more money to spend just because things cost more, so they act smarter.”
Businesses are also feeling the changes. Calgary liquor store owner Natalie Gosselin told Global News that stores are working hard to close sales.
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“A lot more events, a lot more tastings…we're working twice as hard for very little growth,” she said.
Bye Canada's GDP grew 0.6% in the third quarterunemployment remains high at 7.8 percent. These economic pressures have many buyers thinking more about value than price.
“I've bought luxury gifts before,” said Calgary shopper Carla Little, “but I think you really need to be smart about how you spend your money.”
Others argue that the best gifts are handmade.
“I try to bring something personal, like handmade Christmas cards,” said customer Rod Zillman.
Another Calgarian, Caitlin Burke, agrees, telling Global News: “Arts, crafts… just creating it. I think it takes effort.”
Gosselin said many shoppers are also choosing to support independent retailers during the holiday rush. “They are very conscientious about making sure that they support local people and that they support us specifically to keep us in business.”
New research from the Boston Consulting Group shows nearly half of Canadians feel less financially secure than they did a year ago, and one in three households say they wouldn't be able to meet their monthly expenses if their income was cut off.
BCG Canada CEO Kathleen Polsonello told Global News that shoppers are leaning toward essentials and Canadian-made items. She also said about 40 per cent of Canadians have used or plan to use artificial intelligence tools to compare prices and product features. Among Gen Z and millennials, that figure rises to 50 percent.
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