Inflation: will Black Friday be shunned this year?

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Inflation: will Black Friday be shunned this year?

Black Friday Sale marks the start of the holiday shopping season for merchants.

After a year 2022 marked by inflation, will Quebecers benefit from the Black Friday and Cyber ​​Monday sales?

Myriam Ertz, professor in the Department of Economics and Administrative Sciences at UQAC, believes that the loss of consumer purchasing power should have little impact on online and in-store sales, during this period.

Black Friday is a consumption ritual. This is something that comes up time and time again, to which consumers attach particular importance. , she says.

A sign that inflation is not slowing down consumer spending, she reminds us that indebtedness linked to credit card use reached record levels at the end of September in the country ( Editor's note: according to a recent survey conducted by Equifax Canada).

In some businesses, the discounts could be less attractive this year.

Are there good savings to be made during this period? Yes, but you have to be careful, according to her.

Some sales could be less attractive due to inflation, but also to delays in the supply of certain products.

In addition, Myriam Ertz points out that many merchants continue to offer “abusive” or downright misleading discounts, even if the law prohibits it. Then, several companies take the opportunity to sell off their unsold inventory to make room for 2023 products.

The teacher recommends that consumers do their research on prices items, in order to check if the sales are really worth it. Making a list, and sticking to it, is another way to avoid over-spending.

A recent Retail Council of Canada survey conducted by Leger survey of 2,500 respondents reveals that 28% plan to shop on Black Friday, Canadians.

In the United States, “Black Friday” is much more popular

For many, Black Friday conjures up images of frenzy in electronics and toy stores.
However, several other types of businesses also benefit from this period.

The phone rings a lot more, we have a lot more requests. , says Sylvie Myre, president of the Voyages à Rabais agency. People question the content of the offer, and our sales go well beyond a regular Friday.

Sometimes Black Friday and Cyber ​​Monday discounts make consumers plan ahead cultural outings and activity evenings. At least that's what Jean-François Ermel, director of marketing, communications and customer experience at the Grand Théâtre de Québec, says.

It allows us to reach customers who come less often to see shows at the Grand Théâtre. So it has an interest in developing audiences, he explains.

With the collaboration of Flavie Sauvageau

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