by MorinvilleNews.com Staff
The American transplant Black Friday is coming to Canada again this weekend, and shoppers are reminded that a majority (65%) of small retail businesses expect to lose sales to big businesses and online giants. This from recent data by the Canadian Federation of Independent Business (CFIB).
CFIB and American Express are once again presenting Small Business Saturday, this year on November 25, to encourage Canadians to shop local during the lead-up to the holidays.
“Consumers have the wrong assumption that only big businesses offer lower prices. In fact, over two in five small retailers will be offering sales and special offers this weekend to celebrate Small Business Saturday. You can still shop small and save money,” said Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB. “And shopping small benefits us all—66 cents of every dollar spent at a small business stays in the local economy, compared to only 11 cents per dollar spent at a multinational.”
An Angus Reid public opinion poll showed 40% of consumers plan to spend less this holiday season compared to last year. A third (34%) indicated they plan to do more of their holiday shopping at large retailers this year, compared to just 16% who will shop more at small retailers. Meanwhile, nearly half (46%) of small retail businesses are counting on holiday sales to end the year in the black.
“With high costs of groceries, utilities and rent, it’s not surprising that many consumers are looking to cut spending this holiday season. But this is all the more reason to make every purchase count,” said Ryan Mallough, Vice-President of Legislative Affairs for Ontario at CFIB. “We encourage everyone to kick off this holiday season by supporting local.”
You can learn more about Small Business Saturday online at SmallBusinessEveryDay.ca