5 Dec 2011

Black Friday, Cyber Monday sales surge

With money tight for many consumers, holiday shoppers jumped on discounts retailers offered on Black Friday and Cyber Monday, making it one of the busiest four-day shopping periods in history, a new report indicates.

According to the National Retail Federation, retail sales totaled $52 billion, a 16 percent increase when compared to last year's $45 billion.

Alain Michaud, head of Canadian retail for the financial services firm PwC, said the positive sales results could be an indication of buyer behavior.

"It could … be a sign that consumers want to secure the absolute best prices in a difficult economy," said Michaud.

He added that Canadian consumers have been more frugal with their spending in recent months, citing data from Statistics Canada which indicates that spending rose just six-tenths of a percent between January and September.

Jiffy Self-Storage understands that spending can be difficult in the holiday months, but it's often tough throughout the year as well. That's why we're committed to keeping storage rental rates competitively priced so Canadians get the most bang for their buck.

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