American consumers lined up for hours before stores opened Friday morning and are taking part in what is the biggest shopping day of the year – south of the border.
Canadian retailers are increasingly advertising their sales as being part of what is known as Black Friday but retail analysts say the move is not being driven by consumers.
“I don’t think consumers are clamoring for an end-of-November Boxing Day-like event to coincide with what’s happening south of the border,” said DIG360 principal David Gray.
“It’s coming from the supply side. Retailers are saying, ‘We’re stuck. We have to move product. What do we do?’”
Gray believes most Canadian consumers are not following the media coverage of Black Friday in the U.S. and those who are believe the phenomenon to be something unique to the U.S.
He also thinks local retailers who dub their sale as a Black Friday sale are being disingenuous because the discounts they are offering are similar to the discounts they would otherwise be offering at this time of year.
The sluggish economy is generating some bigger sales this year than in an ordinary year, however.
“If all you compete on is price and not brand, if you’re in the mall and you have the same products as the other guys, then you may have to follow suit [with big sales this Christmas season]. It doesn’t mean that Lululemon [Athletica Inc.] has to do it.”