Pros predict the best savings
4K TVs, video-game consoles and travel are expected to provide the most bang for your buck
Consumers eager to shop this Black Friday should be happy with the treasure trove of deals and discounts on a diverse range of goods and services, including tech, toys and travel.
Multiple retail analysts expect deep discounts on 4K television sets to be one of the most notable hallmarks of this year’s Black Friday.
“There’s going to be a big rush on them this year,” says Jeff Novak, brand director with RedFlagDeals.com, which is an online coupon site owned by Yellow Pages Group.
“It’s possible we might see sub-$500 (for a) 50-inch (screen), which would be huge.”
In addition to televisions, Novak says he expects to see significant discounts on some older video-game consoles.
These include the Xbox One, which has recently been supplanted by the new Xbox One X.
In order to make these older consoles more interesting to tech-savvy consumers, Novak says shoppers can expect to see older consoles bundled with extra games and/or controllers.
Barry Choi, a Toronto-based personal finance expert, agrees new televisions are likely to provide shoppers with the best value on Black Friday this year. Another area he sees drawing the attention of bargain-hungry Canadian consumers is travel.
“By the end of November, Canadians are starting to realize the long, cold days of winter that are fast approaching,” Choi says.
“That creates a strong interest for resorts and other travel destinations to get a jump start on attracting tourist dollars.”
Choi says he expects companies, such as Sunwing, to go all-out on Black Friday.
It’s expected the travel group will set up a series of Black Friday weekend-long “pop up” stores, with visiting customers receiving exclusive deals on flights and resort vacations.
In addition to travel groups, Choi says U.S. tourism bureaus are increasingly offering big discounts to attract Canadian consumers seeking refuge from frigid temperatures.
In particular, the Orlando, Fla., tourism bureau has recently launched a campaign with advertisements on GO Transit and other public transit outlets in Southern Ontario.
It hopes to entice winter-worn Canadians to its sandy beaches.
Indeed, the sale of “specialized experiences” is an emerging retail trend gaining fast traction this Black Friday, says Kenneth Wong, a professor of marketing at Queen’s University in Kingston, Ont.
“Generally, we see that millennial (consumers) have a preference for experiences over products,” he says.
“Whether that is something like travel or simply an engaging shopping experience, retailers see that the idea of ‘an experience’ sells.”
Lynn Duffy, senior manager of strategic insights with the DAC Group, says customers in search of a good deal should pay close attention to opportunities provided to them by their pre-existing loyalty programs.
One example of a loyalty program offering customers specialty discounts comes from American Express. In advance of Black Friday, it is offering its cardholders an exclusive shopping experience, with deep discounts, at clothing retailer J.Crew.
“Customers who can take advantage of these benefits will be the winners on Black Friday,” Duffy says.
That’s an important reminder for price-sensitive Canadian shoppers. But ultimately, where should consumers search for the best deals this year — online or in traditional brickand-mortar stores?
The answer is both, says Alan Middleton, a marketing professor at Toronto’s York University. He says more and more retailers have improved their e-commerce platforms and solidified their supply chains over the last few years in order to meet the growing demand from consumers wanting to shop online.
Nevertheless, retailers, he says, are keen to entice consumers into traditional brick-and-mortar stores in order to provide them with a “shopping experience.” This can be done, for example, by offering specialized discounts or coupons, often beamed directly to a shopper’s cellphone through apps, emails or text alerts.
Maintaining balance between online and in-store sales on Black Friday is important for retail outlets in Canada because Canadians, unlike Americans, tend to do their homework online, searching for the best prices for products before heading out to purchase them in-store.
“Research shows that Canadians tend to be leaders in online investigation and laggards in online purchases,” Middleton says.
While this cultural nuance is everevolving, as more Canadians begin to increasingly trust online shopping, one discrepancy that will remain constant this Black Friday is that Canadian shoppers will continue to see higher sticker prices on products such as books. Despite that small annoyance, Novak says he expects Canadian consumers to see continued growth in Black Friday sales in many sectors for several years to come.
“It’s a great time to get the holidays shopping season’s most in-demand products, like children’s toys, before they sell out,” he says. “Black Friday in Canada is about a lot more now than just finding deals on vacuum cleaners and stocking stuffers.”
“Research shows that Canadians tend to be leaders in online investigation and laggards in online purchases.” ALAN MIDDLETON MARKETING PROFESSOR AT YORK UNIVERSITY