Are Black Friday and Cyber Monday Still Worth It?

It's that time of year again, America's annual orgy of discretionary spending that falls on U.S. Thanksgiving Weekend. The Friday after American Thanksgiving is significant because it kicks off the holiday shopping season and the stores know it.

Hence, the store openings at 4 a.m. and the deep discounts the likes of which are never seen the rest of the year. The term Black Friday actually originates in Philadelphia as far back as 1961 where it was used to describe the heavy and often disruptive pedestrian and vehicle traffic that often materialize the day after Thanksgiving. Since 2005, when the day has become known for wanton consumerism, the term has evolved to signify when retailers turn a profit or "Go into the black."

Every year the media tries to make like Black Friday has always been the biggest shopping day of the year, but, truthfully, that has not always been the case. In actuality, it filled spots five through ten between 1993 and 2001 and didn't become the busiest shopping day until 2003 where it has remained ever since.

Thanks to the strong Canadian dollar and the general hype and chaos surrounding crowds of people going crazy while charging through doors for insane savings, Black Friday has become an annual excuse for cross-border shopping for many Canadians, so much so that Canadian outlets have started to mimic the phenomenon to keep Canadian shoppers at home.

But are the deals really so stupendous and are the endless line-ups really still worth the massive consumerist payoff? More and more it seems Black Friday, and its online counterpart Cyber Monday, are already becoming passé.

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A new poll from IPSOS found that 40% of shoppers already started there holiday shopping weeks before the big day and only 12% are waiting to begin on Black Friday. Last year, Accenture's Holiday Survey revealed that only 44% of people planned to shop on Black Friday compared to 47% in 2010 and 52% in 2009.

Retail experts say this is because people realize that the holiday shopping season stretches three months and retailers are wanting a bigger piece of the pie much sooner than the day after Thanksgiving, so deals can be had throughout the shopping season, which makes Black Friday just another day to go shopping, rather than the day to go shopping.



In fact, DealNews.com, "Where everyday is Black Friday," debunked 14 myths surrounding the retailgasm, including that Black Friday sales actually begin on Black Friday. Instead, several major retailers launch special sales up to two weeks ahead of the day. Amazon began their sales on November 19 and even some deals sell out before anything that could be called Black Friday ever begins. So, hit the computer now and start shopping.

Add to that, Canadian retailers are putting forth their largest effort ever to offer comparable deals and extended hours at home, so you don't actually have to brave lineups at the border. Future Shop is opening all of their stores nationwide at 8 a.m., with some opening even earlier at 6 a.m. on the eastern side of the country. Both Future Shop and Best Buy are offering Black Friday deals (although, it's more like Black Week) along with other Canadian counterparts of American retailers like Lowe's, Old Navy, Staples and Wal-Mart. For the full list of Canadian retailers participating, head to Red Flag Deals.

Still, participation from Canadian stores hasn't exactly reached critical mass. "You need to have a substantial majority of merchants - 60% or 70% - taking part for it to become a big deal," Ken Wong, a Queen's University marketing professor, told The National Post. "But as more U.S. retailers come up to Canada, they'll likely import their holiday practices."

The message there, if you want even more local Black Friday deals hold off this week and wait until next year, when the American retail invasion is in full swing.

Granted, there are people who won't stay home. They argue that prices are cheaper and selection is greater in the U.S. than anything Canada can currently match. However, a recent CIBC poll revealed that only one in ten Canadians actually think so and will bother making the trip this year. For most Canadians, Black Friday is still very "Meh."

It's just as well, given that many American retailers have extremely low quantities of the famously low-priced "doorbusters" that get all the attention on the news. Most shoppers won't even have a chance at snagging them. For example, the Sharp "42 TV for $199 deal at Best Buy had reached legendary status last year, but only ten units per store were ever guaranteed available. In addition, not everything reaches the lowest prices of the year on Black Friday. Toys reach their lowest prices just before Christmas, HDTVs get their lowest between Christmas and February and winter clothing gets its cheapest after Christmas. Plus, price match guarantees still stand for Black Friday prices at some stores. Last year, Amazon, Best Buy, Home Depot and Meijer all matched Black Friday prices and in some cases, offered better deals.

But perhaps the biggest reason why Canadians should be wary of the Black Friday hubbub is their lack of recourse should something go wrong with their item when they bring it back home. Read the fine print on those American warranties and you'll find that many of them are worthless. They say things like, "This warranty is for an American product sold and used in the U.S." or the outright, "This warranty is not valid in Canada."

In general, you'll be shopping at your own risk and don't forget to factor in that you'll be wasting gas and probably wasting time.