Has Black Friday changed the way we purchase?

It's been a decade since Black Friday started to emerge heavily in Canada as an opportunity to move retailers out of the 'red' and into the 'black'.  An event that no retailer wanted to turn down then, but now might feel differently.  

Small businesses in Canada are plagued with consumers holding out on buying fall and winter sweaters and products until they are offered a significant discount.  When there is a shift in the economy the waiting game is even more intense, forcing retailers to go on sale earlier and leaving less product to choose from on Black Friday when the discounts can potentially be deeper. 

So has Black Friday changed the way we purchase?  Absolutely.  We have been conditioned to wait and wait for discounts and retailers have been conditioned to start sooner. 

The negative effects leave retailers with fluctuating seasonal sales that are no longer predictable, therefore, leaving them with cashflow issues. 

Consumers on the other hand, walk away pretty satisfied.  Some might miss out on their size or style on Black Friday, but as a whole, they get the deals they have been waiting for. 

What we will probably start to notice is a new norm.  Retailers might push back and put less merchandise on sale earlier but with more lead up promotions to their Black Friday event.  The promotions won't be a significant difference in price compared to their sales in the weeks prior.   

Gone are the days where Canadian shoppers would wait till Boxing day to stock up.  Black Friday brings them closer to an entire wardrobe mid-season before the first official day of winter.  

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