Retailers pull out all the stops to entice shoppers on Black Friday, a shopping bonanza that kicks off the Christmas sales period.
It’s the day before Cyber Monday
When retailers offer substantial discounts, it drives consumer shopping. And when consumers spend money, it helps to boost the economy. That’s why Black Friday is an important day for retail and why it’s a good idea to get in on the deal-hunting action with shares of online retailers like Amazon, Walmart, Target and Best Buy. Black Friday is the first major shopping event of the holiday season, giving consumers a sense of urgency to find bargains. It also sets the tone for other events over the holidays, such as Cyber Monday and Gifting Week. While a Black Friday bonanza can be an exciting experience, many shoppers prefer to stay cozy at home and click through sales on their laptops. And that’s why online retailers are expected to dominate this year’s online shopping bonanza, too. Some retailers predict that their online sales will top those of Black Friday. Shoppers can choose many items online and can find them here. And that’s why it’s a good idea to invest in ETFs that track the retail sector.
It’s the day after Thanksgiving
Despite its darker roots, the term “Black Friday” has been hijacked by retailers and used to herald a major sales bonanza every November. The one-day event has morphed into a multi-day affair that includes Small Business Saturday and Cyber Monday. Whether shoppers are looking for new televisions, Beats headphones or a holiday dinner for 12, this is the day to score big deals. Retailers understand that Canadians may want to stay home and shop online. So this year, they’re promoting their Black Friday discounts earlier and offering curbside pickup, which allows shoppers to have purchases brought to their car by workers. They’re also staggering events to minimize the number of customers in stores. This way, they can spread out sales throughout the day and avoid a surge of orders all at once.
It’s the Day before Thanksgiving
If you’ve been waiting to buy that new TV or those smart home gadgets, Black Friday is your day. You’ll also find great prices on clothes, toys and appliances. The day after Thanksgiving has become a days long shopping event as retailers offer discounts and promotions to drive traffic. Some brands open their doors earlier, and some offer doorbuster deals on Wednesday and Thursday. Last year, shoppers were put off by ugly in-store scrums, and the news was full of stories about empty malls. That’s why many savvy online sellers mix outrageous discounts with more normal prices and recover their margin by associating products in “looks,” edits or bundles.
It’s the biggest shopping event of the year
If you’re a consumer who loves to find discounts and deals, Black Friday is your day. However, remember to let your budget be your guide. Consider how much you can afford to spend, and don’t charge more on your credit cards than you can repay in a reasonable period. Canadian retailers are pulling out all the stops to lure bargain hunters this year as the U.S. shopping phenomenon pegged to the day after Thanksgiving makes further inroads north of the border.
