Black Friday and Cyber Monday 2016: Canadian shoppers are ready to spend big
19.3 million Canadians (more than ½ the population) plan on participating in this American tradition, which has become firmly rooted in Canada, according to an IPG Mediabrands poll.
For Canadian retailers this means big dollars as more and more Canadians are keeping their dollars north of the border.
- 68% of shoppers (online and in-store) will buy from Canadian retailers.
- Only 15% will trek south for door crasher deals, a 37% decline from the previous year.
In 2015, Canadians spent 44.3 billion in November, an increase of 1.27 billion over the previous year.
Processing payments firm Moneris Solutions reported an increase in sales on both days for the last four years.
Holiday shopping looks great for retailers, while some employers may be shaking their heads.
Expect an increase in absenteeism over the previous year, with an additional 235,000 people calling in sick and a whopping 2.3 million opting for a vacation day.
Whether you’re a retailer watching the cash register ring or an employer wondering where your employees are, Black Friday and Cyber Monday have become Canadian traditions.
Back by popular demand, we’re starting our own tradition with an annual infographic of what is predicted for Black Friday/Cyber Monday 2016.