Black Friday is typically the time of year when consumers wait in long lines, sometimes stampeding through big box retailers in order to get their hands on the best deals. But Black Friday is expected to be different this year, thank to the COVID-19 pandemic. For the first time ever, more consumers plan on shopping online than in brick-and-mortar stores, according to a Deloitte survey. A survey conducted by Shopify found that half of Canadians plan on shopping over Black Friday and Cyber Monday, spending more than they did in previous years. The shopping event is also a critical time for many small businesses. The Retail Council of Canada estimates that 40 per cent of small business revenues fall in this holiday shopping period, which includes Black Friday. So what should businesses be doing to make sure they are able to capitalize on the event? Strategy expert Mark Satov outlines his advice, and why Black Friday is not as important these days for big box retailers.
Winter is coming and rising COVID-19 cases are leading to more lockdowns, but none of that has brought a chill to Canada’s hottest real estate markets. There was a lot to talk about on this month’s episode, including mortgages, condos, the urban exodus, the effect of vaccine announcements, and the Bank of Canada’s role in the improbable rally. We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home. They both think the rally still has legs and expect to see strong markets in Toronto and Vancouver in the months to come. Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada presents CRISIS MANAGEMENT, a livestream show on the Canadian economy that builds a crisis playbook during COVID-19 times and beyond.