Retailers had a very strong month this past November, helped by the fact that Canadian shoppers spent record numbers during the highly anticipated Black Friday/Cyber Monday sales.
All Stores sales increased by 7.1% and All Stores Less Automotive, Food, and Pharmacies was up 9.9%. Consumer Confidence, at 121.1 in November (2014 = 100), was the second-highest level since 2007. The index is averaging 17% higher in 2017 than 2016. This is one of the highest yearly improvements in consumer confidence since the index began. According to Moneris, Black Friday has become the biggest shopping day for dollars spent as of 2017 for Canadian retailers. Retailers continued to celebrate as Cyber Monday also dominated the Internet. Cyber Monday has now become the biggest shopping day worldwide. All categories had an increase in sales and a number of categories posted off-the-chart sales results... (Click to continue reading, courtesy of JC Williams Group)