Nov 25, 2016
By Jane Brown
All the major malls in the GTA opened early today for Black Friday.
It’s an American tradition, but Canadian retailers also embrace the idea.
In fact, it’s a shopping event that was more popular in Canada last year than on Boxing Day, the traditional day to get the best bargains.
A Moneris survey revealed Canadians swiped their plastic 26 percent more on Black Friday than Boxing Day last year. The credit and debit card payment processor predicts an percent increase this year.
Zoomer Radio’s Financial Analyst Kim Parlee at TD Wealth says Black Friday actually began at the beginning of November.
“Retailers began sending Black Friday sales out as early as November 4th. J.C. Penney and Walmart were out there and apparently it’s been working. Consumers will have spent almost $26-billion dollars by the end of Black Friday,” Parlee explained.
A recent Shopbot survey found one in five Canadians intend to spend more than $350 on Black Friday.
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