A survey by IPG Mediabrands predicts that $13.4 billion will be spent by Canadians this coming Friday and next Monday. The Black Friday and Cyber Monday is close to making Boxing Day sales irrelevant and are now so popular that an estimated 1 million Canadians will be calling in sick across the two days and with vacation days there will be around 4 billion off work. The weakened loonie is unlikely to do much to deter spending on bargains from south of the border; a big issue for many domestic retailers. Another survey shows that Canadians are spending more time online with an average of 2.5 hours a day; app usage is particularly popular accounting for 80 per cent of time spent online.
More market talk: