Black Friday & Cyber Monday: Earn Money While Spending

Black Friday and Cyber Monday Canada

The long-awaited and long-anticipated Black Friday deals are just around the corner. We know that you are starting to gather some holiday gift ideas or maybe you are planning on treating yourself to some new electronics this year.

You are one of the many consumers who plan on participating in holiday shopping this year. According to CNBC, the average consumer is looking to spend at least $1300 this holiday shopping season!

In the past, Black Friday has definitely got out of control. We have all seen the YouTube clips of shoppers fighting over the last TV or bursting through the doors as stores open as early as 7:000 a.m. However, things are changing in the digital age, and this may be for the better.

Black Friday is beginning to face some new competition from its younger sibling, Cyber Monday, which is predicted to generate approximately 10 billion dollars in 2019. A healthy amount of competition may drive prices even lower.

We also see deals starting earlier and running later as the competitive climate begins to boil for Canadian retailers. Between Boxing day, Cyber Monday, and Black Friday your head might start to spin.

When is Black Friday and Cyber Monday in Canada? 

Black Friday deals may have already been activated depending on the retailer and the type of product that you are searching for. The traditional date that is associated with this shopping holiday is November 29th. Usually, there are additional, exclusive promotions that are announced on this day.

Retailers such as Amazon, Best Buy, Walmart, Canadian Tire, Chapters, Costco and Ikea, are already promoting their Black Friday deals. According to Business Insider, in-store Black Friday discounts often outweigh the online offerings. It is also recommended that you purchase “big-ticket items” on Black Friday as opposed to Cyber Monday. 

If at first you don’t succeed try, try again. If a product sells out, or you couldn’t make it to the store because of work, or you simply can’t justify the existing price, you have a second opportunity to get those items on your wish list.

Cyber Monday lasts 24 hours starting December 2nd and has been deemed as the best time to purchase tech products, especially niche gadgets. Some of the early discounts that have already been released are listed below.

Black Friday and Cyber Monday: Caddle Members

In order for us to give you the best advice and deals at Caddle we wanted to know how you plan on purchasing your products this holiday shopping season.

We conducted two surveys 1) Black Friday and 2) Cyber Monday, to see if our members are going to take advantage of the huge savings. The average number of respondents was 8,350 and the majority of the members ranged between the ages of 27 and 36. 

Consider these two tips: 

1. If you are paying with a credit card make sure you are receiving cash back or travel rewards points. Make money while spending money.
2. If you are making online purchases ensure that your payment method is secured, keep a record of your transaction number, and see what fraud policy your bank offers.

Black Friday & Cyber Monday: Price Matching

Trust me, I’m not talking about that person at the grocery store who says “I know I have a coupon for that somewhere”. Price matching has become easier than ever with the help of our smartphones!

Most stores are beginning to offer a low price match guarantee in order to keep your business and decrease the number of product returns. Not to mention the accessibility of receipt uploading, browsing digital store flyers, creating a digital wish list or shopping cart, viewing promotions, registering for email lists, and coupon apps (yours truly, Caddle) that are all available at the touch of a button.

Institutions such as Meridian Credit Union have also implemented a new system called price drop. You upload your receipt and the app will notify you about any price adjustments and deposit the difference right into your bank account.  

Black Friday & Cyber Monday: Online Versus In-Store 

So you might be wondering, what platform is going to offer the best deals. The fact of the matter is that it’s actually quite subjective and product-specific. An article by Time Trade indicates that:

“The bottom line is customers value the personal experience of the physical store,” said Gary Ambrosino, CEO of TimeTrade. “We found that shoppers have done their shopping or discovery online, then go into the store to get help with their final purchase decision.”

Some products are just better to purchase in-store, especially when it comes to customizable products. Let’s be honest, when you purchase a tech gadget online you know what you’re going to get, the equipment is relatively standardized.

On the other hand, if you are purchasing a mattress you probably want to test out the comfort level, look at the size, and ask some specific questions.

If you do purchase online just make sure that you are able to return the product if it doesn’t satisfy your needs. Some retailers will charge you an additional shipping expense when you return the product, so it’s important to keep that in mind. 

Lastly, there is no exact formula that determines which method leads to more cost savings but shopping online does have its perks. It will certainly provide you with more product selection, increased availability, and convenient shipping.

About Caddle

Thanks for reading our blog post! If this is your first time on our webpage you may be wondering who we are and what we do?

Caddle is a data insights company that has a passion for understanding market trends which can be translated to the market industry leaders for the benefit of understanding the buying behaviours of their consumers. 

Click this link to find out more and earn some cash back from our surveys!

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