Holiday Spending in Canada on the Rise?

The Canadian Press reports that, although final numbers aren't yet in, holiday spending in Canada looks to be up about 5% in comparison to last year. Fueled mainly by the baby boomer community, this means that sales in the consumer electronics category has been favourable. In fact, The Canadian Press cites certain Best Buy store locations as having topped $1 million in sales on just Boxing Day (December 26)!

Having walked into a Best Buy store on Boxing Day, I can attest to the pandemonium: there were line-ups a mile long at every cash register around the store, while customers were fighting one another to snag the best deals. By the weekend, line-ups to return or exchange merchandise (gifts that didn't quite fit the bill, perhaps?) were just as long.

It's great news that retail appears to be live and well in Canada, despite issues of cross-border shopping for perceived "better deals" in wake of the strong Canadian dollar. It's also encouraging given the increasing popularity of online shopping. It appears that, although many consumers are turning to the web to get their shopping done, it complements rather than replaces the in-store retail experience, with many still appreciating the face-to-face sale. When it comes to the holidays, even though you might have to wait in line for hours, bump shoulders with a hundred people on your way out the door, and endure the cold weather, snagging that great deal was probably worth it.

Happy New Year!

Boxing Day: What's Hot?

True to my word, I headed out to busy Yonge St. in downtown Toronto for some Boxing Day shopping. One thing's for sure: shopping still remains a very popular pasttime in Canada! Despite my earlier skepticism about the quality of "deals", there were in fact tons of great ones, and plenty of people out and about to take advantage of them.

Among the most noteworthy in the consumer electronics sector: selected DVDs for $5 and high-definition DVDs (both Blu-ray and HD DVD formats) for $20; and a whopping 1 TB external hard drive (from a reputable brand) for $200! Like we recently saw in the U.S., Toshiba's older version HD DVD player was available for $99 (they were all gone by the time I made it out to the stores). However, the HD DVD add-on player for the Xbox 360 was also available for $150 - $50 less than it's regular price, and it came bundled with a free HD DVD.

Of course, flat-panels were available for excellent prices, with many retailers advertising 42" models for just $1,000. Portable GPS devices were also "hot" items on holiday shoppers' wish lists.

The online arena was just as flooded with consumer traffic. In fact, Amazon.ca reported experiencing its busiest holiday season in five years! In DVD, the online retailer's best seller was Planet Earth: The Complete Series (no surprise, given that it was an Oprah pick); while Josh Groban's Christmas album Noel topped the music sales (kudos to Mr. Groban for managing to out-sell all other artists with a seasonal album!) Super Mario Galaxy for the Nintendo Wii topped gamer purchases; while Adobe Photoshop Elements 6.0 was the best-selling software.

Amazon's "most wished for" list echoed the purchases, although the Nintendo Wii console itself was the most coveted video gaming item; and Apple's Mac OS X Version 10.5 Leopard was the most desired piece of software.

As earlier predicted, most retailers will continue deals through to the end of the week. Enjoy!

[Photo courtesy of http://www.freedigitalphotos.net/].

Boxing Day: Is it all a Ploy?

I have become increasingly skeptical of Boxing Day "deals". Yet, for some odd reason, I still feel obligated to join the millions of others stampeding into the shopping mall on the 26th, waiting in line to get into a store they'd normally never shop at to save a few bucks on something they probably never would have purchased otherwise. Is it all worth it?

What about the so-called "deals"? The truth is that it really comes down to the specific store. Of course some will have real, cost-saving door-crasher specials that are worth trudging to the mall and fighting for a parking spot in three feet of snow to snag. But there are others who draw you in with huge signage and big promises only to offer a measly 10% off; and this is only after having first jacked the price tag up by 15%!

Even after purchasing an item at a fantastic deal, 'll often head over to the mall on the 27th or 28th and find the exact same deal still in effect. Why did I wait in line for 15 minutes to get this deal a few days ago, when I could have just come back?

Many retailers are honest about this, promoting the sale as "Boxing Week" rather than Boxing Day, if not for the customer's benefit, for their own. It pretty much says in a subtle, yet direct way, "Hey, you don't need to bombard me today - come back tomorrow...please!"

Nevertheless, I, like many others, feel the need to pop over to the mall on the 26th and make sure I'm not missing out on anything. Even though deep down I know the same deals will exist two days later, there's an air of tradition that requires that I put myself through torture, and support one of the biggest days in consumer culture.

Before you head out shopping, do your research (even if just anecdotal) and find out where the worthwhile savings are before you waste your time. Many retailers, like Future Shop and Best Buy, will not only hold in-store sales, but will also begin online sales as early as December 24, offering significant savings in limited quantities. And if you don't make it out on December 26, rest assured that, if history repeats itself, there will be "deals" of all kinds all week long.

Merry Christmas or Happy Holidays (should you celebrate another holiday) to you all!

[Photo courtesy of http://www.freedigitalphotos.net/].