Black Friday: The Shopping Extravaganza That Keeps Expanding, Experts Warn of Scams

As the curtain rises on the holiday shopping season, Black Friday has officially claimed its title as the busiest shopping day of the year. With its popularity soaring even higher than Boxing Day and Super Saturday—the last Saturday before Christmas—Black Friday is no longer just an American event; it has transformed into a Canadian shopping staple over the last 15 years.

Retail analyst Bruce Winder notes that retailers are proactively extending their Black Friday sales well past the event itself, merging into Cyber Monday and beyond. This strategic shift means that consumers might notice discounts appearing much earlier in the season, and shoppers should be cautious—Winder cautions that if a product is discounted before Black Friday, it’s unlikely to drop further in price later.

Amid soaring inflation and rising costs of living, Canadians are more determined than ever to hunt for bargains this year. "Canadians are looking for any way possible to try and lower their spend for the holidays," Winder emphasizes, reflecting the overall mood of thrifty shoppers facing economic pressures.

However, while many are eager to snag the best deals online, there’s a dark cloud hovering over the shopping frenzy: scams. Cybersecurity expert Jane Arnett from Check Point Software warns consumers to be vigilant, especially when receiving enticing offers via text or email. She advises shoppers to seek out their desired items rather than being lured in by tricky promotions.

To protect against potential online fraud, Arnett suggests limiting the sharing of personal information and opting for long, strong, and unique passwords. She also recommends using a dedicated credit card solely for online transactions to add an extra layer of security.

“Always check that the website is legitimate. If it doesn’t start with ‘https’ or lacks a padlock icon, it’s a red flag. A secure site is critical when sharing personal information,” Arnett cautions.

As Black Friday approaches, Winder predicts that traditional value-driven retailers will thrive, with names like Walmart, Costco, and Dollarama expected to perform well. In contrast, those retailers with higher price points might struggle this season.

In an era characterized by uncertainty and a quest for savings, Black Friday remains a thrilling yet treacherous adventure for consumers. Prepare your shopping lists, safeguard your information, and brace yourself for a competitive retail landscape this holiday season!