Canadian retailers are eager to capitalize on whatever online sales are available on Cyber Monday and Green Monday.
The two online shopping events were born in the U.S. They happen on the two Mondays following Black Friday (Nov. 25), which is traditionally the official kick off to Christmas shopping in the U.S.
With weekend sales that can make-or-break a retailer’s survival, it’s no wonder so much emphasis is placed on extending the Black Friday weekend. Cyber Monday is Nov. 28 and Green Monday is Dec. 12 (usually the second Monday in December). All out marketing efforts are out to get in on the trend to online shopping.
In the U.S., Adobe’s Digital Insights shopping predictions says 2016 holiday sales will reach $91.6 billion, an 11 per cent year-over-year increase, but smaller than growth seen in 2015. Cyber Monday, in particular, is expected to see sales up around ten per cent from 2015, totalling $3.3 billion in the U.S. That would make this year’s Cyber Monday the largest online shopping day of all time.
About a decade ago, marketing companies coined the term Cyber Monday to get people to shop online. To look at trends today, it hasn’t been a hard sell. Canada Post says that nearly eight in 10 Canadians have shopped online in the last year, and Statistics Canada reports that about a quarter of Canadian shoppers are regular online buyers. Advances in and availability of laptops, tablets and smartphones means it’s ever more convenient and practical for consumers to shop from the comfort of home, saving the hassle, cost of gas, waits in line etc. while still snapping up the same deals as in-person shoppers.
“Back in 2007 when the dollar was at par with the U.S., Canadians swarmed across the border for great shopping deals. By 2008, Canadian retailers started responding with their own Black Friday and Cyber Monday offerings. Cyber Monday has the potential to be even bigger than Black Friday here, since Canadians can shop at U.S. stores right from home instead of having to cross the border,” said TD economic analyst Admir Kolaj.
Canadian retailers like Best Buy want shoppers to spend on this side of the border, whether online or in person, according to the company’s manager of external communications Christine Tam. “This sale has become more and more popular in the last 10 years. It’s a weekend event and we don’t mind how our customers shop – whether online or in-store with our blue shirts or geek squad,” said Tam. “It’s a kick-off to the magical holiday season, and Canadians are loving it. For us, it helps us remind customers that Christmas is just 30 days away.”
Tam said consumers love the online Cyber Monday deals on TVs, laptops, computers, virtual reality and fitness gear, but she said the store also uses the event to showcase other products: luggage, appliances, handbags and musical instruments. And despite an economy that has impacted electronics sales, Tam said Canadians will still buy when there’s a bargain to be had.
“People love deals, whatever the state of the economy. They want the trendy gadgets – the virtual reality, drones and such. And deals on the Black Friday weekend aren’t last year’s models or clearouts; they’re the latest, most popular products.”
Many Canadian retailers offer incentives like free shipping on Cyber Monday, and popular sites like Amazon.ca, Chapters Indigo etc. expect to see strong sales Monday, Nov. 28. Even U.S. retailers want to tap into the Canadian shoppers’ pocketbook, some offering breaks on exchange and/or shipping rates that day.
