So over here we have a large supermarket called the Real Canadian superstore where every once in awhile they have a no tax day sales event. As the name implies, basically everything in the store that you buy will be as if you don’t have to pay taxes on anything. Now this could mean big savings for when you buy things like and expensive TV considering the sales tax here for example is 12%.
However, it was interesting I thought where for many people they were saying that they were holding off their grocery shopping for until this event starts so that they can save a lot of money. The fact of a matter is too is that grocery items aren’t taxable normally anyways. So in that aspect for these things you aren’t saving money at all. As well, these same people are inclined to buy more that day thinking they are getting a better deal. It makes you wonder if business wise the company knows that so many people have that kind of shopping habit and mentality.