New numbers from Stats Canada show Canadians are warming up to Black Friday.
Taking a closer look at the distribution of sales in November and December over the last 8 years, the study found a slight shift after Black Friday sales were introduced in Canada.
“A greater proportion of annual sales is taking place in November now from seven, eight years ago” said Economist Jason Aston. “This is largely attributable to Black Friday.”
One particular sub-sector is getting a boost from the event. Electronics and appliance stores have seen a increase in annual sales of 1.2 percent in the month of November.
“Any time you see a shift in terms of annual sales, one percentage point is significant.” said Aston. “An average month across the year is 8.3 percent of annual sales.”
Clothing stores, as well as hobby and sports retailers also saw increased sales from Black Friday in 2014.
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