As we get closer to Black Friday, Canadian malls are extending their hours of service in hopes of competing with Black Friday sales across the border and give people a reason to stay on Canadian soil. Personally I believe that it is completely absurd and stupid because it is the deals which draw Canadians to shop in the states and not their hours of service? Canadian malls will have to do a lot more than extended hours to keep customers in country. Without mass deals on electronics and clothes like the States during Black Friday, Canadian retailers and mall operators will have no luck in trying to attract customers. Esp. at an opportune time like this when the Canadian dollar is high and with increased duty-free limits, people will do cross-border shopping since they will be able to get more of their money's worth.
The Canadian malls are trying to attract the customers to local malls and make them spend their money on Canadian soil rather than losing our money to American dealers. If I was in charge of these malls, I would try a different method to keep the people in town. I would markdown the prices which will attract more sales and thus keep the people within the country and also increase my profits. According to Ottawa CTV News, "Consumers spent more than $11 billion dollars on Black Friday in 2011." If the Canadian malls and retailers can indeed stop the consumers from border-crossing shopping, then it will greatly help the Canadian economy since there will be more money circulating in Canadian soil rather than in the foreign market.
A recent survey indicated that close to 40 per cent of Ontario residents plan to cross-border shop this upcoming holiday season.
How many of you guys are planning to go to the United States for Black Friday shopping? I know for sure that @sathishnalin’s parents will be going (as usual, every year). What are your thoughts on this move by the Canadian mall owners? Will this stop you from going to the states?
Feel free to share your thoughts in the comment section below :)
Read more: http://ottawa.ctvnews.ca/canadian-malls-take-on-u-s-black-friday-by-extending-hours-1.1025469#ixzz2Cc4Jpuzu
http://www.moneyville.ca/article/1283064--ontario-malls-to-compete-with-u-s-black-friday
