Black Friday

In case you hadn’t noticed, Black Friday hit Canadian shores in earnest last Friday.  No, not an infamous stock market correction but rather the retail event of the year.  The one preceding Boxing Day, January’s Clearance, February’s End of Season, March’s Markdowns etc..
It’s been building for a few years in Canada.  Part of an effort to stem the flow of some 20 billion dollars in purchases that occur cross-border.
For some it’s a golden opportunity to buy electronics and other goods at prices not normally ticketed.  The media would have been full of those camped-out in front of their favorite retailer in hopes of obtaining the “limited quantities” actually available at that price.  No doubt, someone will be injured in the rush and that will garner the largest national headlines.
As always, Caveat Emptor (buyer beware) applies.  CNN Money reports that the most common mistakes to avoid are; inferior products (almost the same but not the same), fine print on rebates, limited supplies, inflated original prices and the bait and switch.
Black Friday is somewhat of an arbitrary date and is known as either the first Friday after the U.S. Thanksgiving or the day in which the average retailer has covered all their costs for the year and begins to pack on profit.  Unofficially, it kicks off the Christmas buying season and if you don’t like a busy retail environment you had better begin your shopping next year the day after Halloween.
Analysts will analyze the data looking for clues to profitability of the retailers both individually and collectively.  Retailers will disseminate their own success with plans to increase profits next year.  The buying public will demand an even sharper pencil next year on an even greater selection of feature-packed, items.
A newer phenomenon is that of Cyber Monday.  The internet’s equivalent of Black Friday.   The information says that 18.9 billion was spent by Canadians last year and that was up by 24% over the year previous.  Today, 28% of Canadians indicate they prefer the comfort of their couch over the shopping mall in making their purchase.   Those numbers are anticipated to continue to grow.
Did I forget to mention that it was also Thanksgiving for 317 million Americans?