Canadian retailers counter Black Friday deals
Start of holiday shopping season marks biggest sale day in U.S.
Last Updated: Thursday, November 25, 2010 | 2:59 PM ET
CBC News
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Canadian retailers are battling cross-border Black Friday shopping over the U.S. Thanksgiving holiday by offering deals of their own.
Canadian retailers are offering their own Black Friday deals to entice consumers who might be considering shopping in the U.S. (iStock)Black Friday, which is the first Friday after U.S. Thanksgiving, is the traditional start to the holiday shopping season. It's when retailers lay out their best deals to entice customers.
That's made it the biggest shopping day of the year in the U.S., with total sales expected to top $42 billion.
With the Canadian dollar near par, and cross-border shopping as easy as a mouse click, retailers on this side of the border are fighting back by offering their own Black Friday deals.
'Black Friday is a day which is growing in significance in Canada.'—Dene Rogers, Sears Canada
"Black Friday is a day which is growing in significance in Canada, and we are bringing it to our customers this year with massive savings on a broad range of merchandise," Sears Canada CEO Dene Rogers said in a news release.
For example, Sears is offering a NordicTrack treadmill normally listed at $1,799 for $699. A 32-inch LCD HDTV can be had for $379.
A similar television set can be purchased from online retailer newegg.ca for $229.99.
"This Black Friday weekend, Toys "R" Us is the must-stop shop for holiday gift seekers," said Liz McDonald, the toy retailer's CEO.
It's marking Black Friday with a half-price event.
Canadians expected to scoop up the deals
According to retail analyst RSM Richter, Canadian retailers should fare well on their Black Friday offerings. The firm notes Canada fared far better during the recession, so Canadians are in more of a shopping mood.
However, retailers are still facing challenges, she notes.
"Canadian retailers are showing tempered optimism. They are dealing with increased competition, fickle consumers, challenges in the supply chain and a strong loonie," noted RSM Richer partner Lynn Bevan.
According to Wikipedia, the term Black Friday originated in Philadelphia in 1966. It was coined as a not-so-complimentary term by the city's police department to describe the chaos that accompanied the rush to begin Christmas shopping following the Thanksgiving weekend.
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