Black Friday has always been the American version of what Canada calls Boxing Day. In recent years, Black Friday shopping has proven to be contagious, as Canadian sales are starting to peak in November, more than in December.
Though Christmas shopping accounts for nearly 30% of retail sales in Canada, a recent study conducted by Global News shows that Sales at electronics and appliance stores during December dropped from 16.1 per cent in 2006 to 14.5 percent in 2014. November’s sales in the same department went up from 8.9 per cent to 10.1 per cent.
Darren Chapman, economics professor at Fanshawe College, says that despite Black Friday sales continue to rise yearly, Canada is still somewhat dependent on Boxing Day sales to help get rid of extra Christmas inventory.
“Canadians have become used to those good sales after Christmas holidays. If you get rid of it, retailers would have to carry excess inventory, which is a loss in money. Either that, or they’d have to raise their prices and lower their inventory.”
Chapman says that there are parts of Canada that rely on Boxing Day more than others, due to cross border shopping being easier in certain areas.
“The Canadian dollar right now is about 78 cents US. Americans are saving an extra 25% discount by paying for it in US dollars. They get a really good deal coming to shop in Canada.”
Though they aren’t seen fighting for items as often, more than half of all Canadians are expected to participate in Black Friday shopping this year.