Most Black Friday Shoppers Maintained Budgets

More than 60 per cent of Canadian shoppers say they showed spending restraint by staying on budget for this year's Black Friday and Cyber Monday sales, but one-in-four (23 per cent) overspent significantly, says research from FP Canada. The research says the average Canadian shopper spent about $385 in total on both shopping events and those who did go over budget spent, on average, more than three times as much (269 per cent more) as they'd planned to. Younger Canadians aged between 18 and 34, in particular, had a tougher time sticking to their spending plans this year, with one-in-three (32 per cent) spending more than they had budgeted for on Black Friday and Cyber Monday – nearly twice the proportion as those 55 and over. While many Canadians may stay on track to rein in their spending throughout the remainder of the holiday season, others say they expect to take on more debt to spread added cheer this year. While Canadians with credit card debt average $3,962 of debt entering the holiday season, that number is expected to rise to $4,776 before 2022 kicks off.