Canadians under 35 are gearing up for Black Friday, with 81 per cent planning to shop during the year’s biggest sales event, according to Rakuten’s Annual Holiday Spend Survey. We chat with Rakuten’s shopping expert Danai Mushayandebvu to uncover survey insights, regional trends and smart tips to make the most of Black Friday and Cyber Monday. —Noa Nichol
The survey shows a significant increase in young Canadians planning to shop on Black Friday. What do you think is driving this heightened interest in Black Friday over other major sale days like Cyber Monday and Boxing Day?
The heightened interest in Black Friday among young Canadians is likely attributed to a massive change in shopping habits and broader cultural shifts:
- The growth of online shopping: Tech-savvy young Canadians prefer to shop online, and the ease of shopping from home or by mobile and avoiding the chaos of in-store crowds is a big draw. Additionally, with more people shifting to e-commerce, there is greater access to more stores in a variety of categories.
- Early and extended access to deals: In Canada, Black Friday often kicks off a whole week of discounts, allowing shoppers to get an early start on holiday shopping. For younger Canadians, who may be keen to find the best deals on gifts or personal items, Black Friday presents a great opportunity to snag bargains early.
- Social Media Influence: Black Friday is a major social event, and retailers know the power of social media, with the constant promotion of flash sales and limited-time offers on Instagram, TikTok, Snapchat, Youtube and Twitter. Young consumers, who are often connected to these platforms, are more likely to be influenced by viral promotions on great deals, as they become top-of-mind.
With the average anticipated holiday spend rising to $637, how are Canadians becoming more strategic in managing their holiday budgets this year? Any notable trends in spending habits compared to last year?
Canadians are finding strategic and creative ways to manage their holiday spending while maintaining a sense of celebration and giving, despite the challenges posed by inflation and rising costs:
- They are planning and shopping earlier than ever: With better planning and online tools to help with budgeting and price tracking, shoppers can spread out their spending, take advantage of early sales, and avoid the stress of last-minute purchases.
- There’s a shift in what they’re buying: Canadians are preferring to spend money on experiences like travel, dining, concerts, and subscriptions rather than material items. The idea of giving “experiences” over traditional gifts is partly driven by a desire to create lasting memories, as well as a way to offset the rising costs of tangible goods.
The preference for cashback over point-based programs is high among Canadians this season. What do you think makes cashback programs more appealing, and how can shoppers make the most of these savings opportunities?
Cashback programs are more appealing to Canadians because they offer immediate, tangible savings rather than the delayed rewards of point-based systems. Shoppers can quickly see the financial benefits in their accounts, whether through direct deposits, via Paypal or a Big Fat Cheque with Rakuten.ca, making them feel more in control of their spending. To maximize these savings, Canadians can focus on cashback credit cards, and combine them with promotions, and seasonal deals to stack savings. By strategically using these programs for everyday purchases and larger holiday expenses, shoppers can stretch their budgets further while enjoying the instant gratification of real money back.
Given that 63% of Canadians plan to start their holiday shopping earlier to spread out expenses, what are some of the benefits of this approach, and do you have tips on the best ways to shop early without missing out on bigger sales?
Starting holiday shopping earlier allows Canadians to spread out expenses, reducing financial pressure during the holiday season. This approach helps avoid last-minute stress and gives shoppers time to compare prices, take advantage of early discounts, and avoid impulse buying.
To shop early without missing out on bigger sales, signing up for email marketing from Rakuten.ca can give you an overview of what deals are available from your favourite retailers, and using the platform to maximize on Cash Back and savings throughout the season. By planning, shoppers can enjoy discounts without sacrificing the thrill of bigger holiday sales.
With rising financial stress among Canadians about holiday spending, what practical advice do you have for consumers looking to enjoy the holidays while staying within their budgets?
The holidays are a time for connection, not just spending, and it’s important to remember that the most meaningful gifts don’t have to come with a hefty price tag. Start by setting a clear budget and sticking to it, prioritizing thoughtful, personalized gifts like a heartfelt homemade item, an experience shared, or a simple gesture that shows you care. Consider focusing on quality over quantity and embracing the joy of giving without the pressure of overindulgence. Take advantage of early sales, use cashback offers, and share the load with group gifts to ease the financial strain. Ultimately, the true spirit of the holidays comes from the love and memories we create, not just the amount of money spent.
Personal question: what’s on your Black Friday shopping list?
I am looking for a chic new couch for my condo, so I will be keeping an eye out for deals at Simons or Wayfair, and I’d like to snag some platform Uggs or Birkenstocks clogs from Little Burgundy as well. And – of course – I am always open to any other amazing deals that find their way to me!
Win! A $200 Rakuten Shopping Credit!
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November 24th, 2024 at 10:11 am
jeffcamillo on facebook. my friend rachel loves online shopping
November 24th, 2024 at 11:04 am
I’m also looking for a Birkenstock deal for BF!
November 24th, 2024 at 11:51 am
@noodleball loves to online shop!, my IG name is @toco11.
November 24th, 2024 at 12:29 pm
@queenlijac ❤️ shopping online
@kennyflex129
November 24th, 2024 at 1:03 pm
My friend @mocha_theraggie and I always using rakuten for pets store cashbacks
My ig: @milo_thesammy
November 24th, 2024 at 1:07 pm
Chelsie Hirsch loves online shopping. FB user name @tobyhir
November 24th, 2024 at 1:07 pm
my tagged friend is @daniellefebre
@seafoodmwg
November 24th, 2024 at 1:23 pm
Tagged my friend @pamalot28 I am @olddvgal
November 24th, 2024 at 3:10 pm
My friend Kari @k.vanr would love Rakuten $$. @janinerutledge
November 24th, 2024 at 5:02 pm
Hi, @loudlippy from ig and tt
Hoping to find those Christmas presents soon!
November 24th, 2024 at 5:45 pm
A Dyson cordless vacuum. 🙏🏼
@maxandfurriosa
November 24th, 2024 at 5:48 pm
Oops, my friend’s Instagram is @purrfectly.amber
November 24th, 2024 at 10:03 pm
The racutan looks great
@pnina44
November 25th, 2024 at 4:12 am
Tagged my friends @corkrosy
November 25th, 2024 at 8:54 am
A new pair of Headphones, a Leafs Hoodie, LL Cool J’s new album on CD and a 49ers Brock purdy jersey are on my black Friday shopping list.
@kareemslick
November 25th, 2024 at 5:05 pm
I tagged Amanda Masters on Facebook and many more. 💝
I am Joanne Elford on Facebook.
November 25th, 2024 at 9:12 pm
Would be great to have these funds to help support my parents to stay active in their retirement, like some new runners or other sports gear!
@nanaimonoms
@ginnykk_hui
@oauyeung
From,
@ellen_neats
November 25th, 2024 at 10:06 pm
@marriedababe likes to shop in line!
@leah.Hagerty.t
November 26th, 2024 at 3:44 am
My friend Florence loves to shop online.
@nicolthe_pickle
November 26th, 2024 at 9:23 am
I tagged my sister @paolagemperez because she’s a shopaholic 🤑
Instagram: @djpepsidaisy
November 26th, 2024 at 12:15 pm
My comment is
@lynnbeaniethethird loves shopping online
andrea_hockeygirl
November 27th, 2024 at 6:18 am
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November 27th, 2024 at 9:11 am
I tagged my sister as she’s loves to online shop!
Insta meshathompson5
November 27th, 2024 at 12:50 pm
I tagged friends on both Facebook and Instagram
@amandalmasters99
November 28th, 2024 at 10:35 am
I love to shop on line @duffmr
November 28th, 2024 at 8:21 pm
@reluctantly_imperfect shops online
IG @minty_mo2020
November 28th, 2024 at 8:22 pm
@carladicken loves to shop online
my IG handle is @peej_personal
November 29th, 2024 at 12:12 pm
Ivy Pluchinsky on Facebook
I am @prairieloon on insta
November 30th, 2024 at 1:18 pm
This is amazing!
IG: @interlakepixie
November 30th, 2024 at 1:37 pm
tagged @manny3062 Looking for new luggage this year.
November 30th, 2024 at 5:21 pm
GMc loves to shop – me too.
@msdanieli
November 30th, 2024 at 6:13 pm
I love to shop online but so does my friend Melissa.
December 1st, 2024 at 3:01 am
My friend tagged Saddaf Tailors loves online shopping .
Thank you
FB: Hoda Montazeri Motlagh
December 1st, 2024 at 8:57 am
My sister who I tagged @lisaleivo
And I both love to online shop we always use Rakuten whenever possible
My instagram page is
@debbiewiitala1965
December 1st, 2024 at 8:26 pm
My IG Handle is @pumama2015
Tagged @InstaHobby2023 and @luckyducky082018 on IG