It’s Black Friday!
Though it has traditionally been an American “holiday,” during the past few years Canadian retailers have jumped on the discount day. And apparently we don’t mind: A recent CIBC poll conducted by Harris/Decima suggested that 9 per cent of Canadians plan to take advantage of the shopping savings.
Many Canadians will take advantage of the weekend discounts to get their Christmas shopping done—all $674 worth of gifts. That’s right, this year’s Bank of Montreal Christmas spending survey suggests we plan to drop almost $100 more than last year on presents (when each person shed $583 for their loved ones).
Despite worries about an upcoming fiscal cliff-induced recession, both Canadians and Americans plan to increase their Christmas spending. But what about the rest of the Western world?