Inflation, longer sales season to weigh on Black Friday shopping

Despite the lack of major price cuts some wanted to see, the annual wave of discounts, door crashers and sales timed to the holiday season will be especially welcomed by Canadians who are feeling stressed about money this year.

Gerick Abaca strolled the CF Toronto Eaton Centre on Friday morning gripping three shopping bags brimming with purchases he hopes would delight his family members this holiday season.

"I'm hoping to beat the rush," the Toronto man said of why he set out to arrive at the mall at 7 a.m. for Black Friday shopping.

But more than an hour into his visit, he hadn't noticed the usual lines snaking out of stores or crowds of anxious shoppers rushing about on the hunt for deals. Perhaps the quieter turnout had to do with some not being early risers or maybe the deals were not as deep as some hoped for, he suggested.

"(They're) not good as before but I got what I came here for," Abaca said.

Despite the lack of major price cuts some wanted to see, the annual wave of discounts, door crashers and sales timed to the holiday season will be especially welcomed by Canadians who are feeling stressed about money this year. Inflation remains above the Bank of Canada's two-per-cent target, keeping prices high for household goods and big ticket purchases, even as higher interest rates are causing many homeowners' mortgage payments to balloon.

The confluence of factors is encouraging more Canadians to seek deals and even pare back their holiday spending. Deloitte predicts the average Canadian shopper will spend $1,347 this holiday season, down 11 per cent from last year. Roughly half of the more than 1,000 Canadians the consultancy company surveyed plan to buy only what their family needs this holiday season. Seventy-one per cent will seek items on sale and 29 per cent will seek less expensive retailers to shop at.

Also shopping at the Eaton Centre on Friday was Kunal Diwakar. He had mixed impressions of how good the deals were. "Some of the shops are offering the discounts — which we often get some other time of year as well — but there are some other shops for which we don't get the sales at all," he said as he left the Apple store with a brand new iPad.