One in ten Cana­di­ans plan to take ad­van­tage of Black Fri­day: CIBC poll

The Pak Banker - - Front Page -

TORONTO

A new CIBC Poll con­ducted by Har­ris/Dec­ima re­veals nearly one in ten Cana­di­ans plans on mak­ing a pur­chase dur­ing this year's Black Fri­day and Cy­ber Mon­day sales pe­riod - a fig­ure which sug­gests that mil­lions of Cana­di­ans will be shop­ping for hol­i­day deals this week­end on ei­ther side of the bor­der.

The poll also re­veals that Cana­di­ans won't be car­ry­ing a pock­et­ful of cash dur­ing their shop­ping trips, as an in­creas­ing num­ber of Cana­di­ans are turn­ing to the con­ve­nience of us­ing a debit or credit card for most of their hol­i­day shop­ping.

9 per cent of Cana­di­ans say they plan to make a pur­chase on Black Fri­day or Cy­ber Mon­day, with an­other 7 per cent of Cana­di­ans say­ing they were un­de­cided as to whether they will be mak­ing any pur­chases this week­end. Re­gion­ally, At­lantic Cana­di­ans (14 per cent) and On­tar­i­ans (13 per cent) are among the most likely to say they plan to make a pur­chase dur­ing Black Fri­day and Cy­ber Mon­day.

70 per cent of Cana­di­ans say they plan to use their debit or credit card to pay for the ma­jor­ity of their hol­i­day spend­ing in 2012, up from 67 per cent in 2011. Black Fri­day marks the unof­fi­cial start to the hol­i­day shop­ping sea­son for many Cana­di­ans, said Co­lette De­laney, Ex­ec­u­tive Vi­cePres­i­dent, CIBC.

Paying by debit (35 per cent) and paying by credit card (35 per cent) are equally favoured pay­ment meth­ods for the ma­jor­ity of Cana­dian hol­i­day pur­chases.

The sur­vey also re­vealed that Cana­di­ans who said they plan to use their credit card to pay for their hol­i­day pur­chases are do­ing so be­cause they col­lect re­ward points (58 per cent) or for con­ve­nience (60 per cent), and most have a plan to quickly pay off their hol­i­day spend­ing in full (76 per cent).

Be­ing able to log in to mo­bile bank­ing on your smart­phone while you are at the mall, or re­ceive an alert to let you know you've ex­ceeded your planned bud­get are just two ex­am­ples of us­ing your smart­phone or com­puter to quickly tab­u­late your hol­i­day spend­ing and know ex­actly where you stand in terms of your bud­get, added Ms. De­laney.

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