Canada Boxing Day Sales
Financial Management

Canada Boxing Day Sales

Today is the day where most people will be packed in the malls and retail stores in hopes to grab some great shopping deals. For all the international readers who are unaware of what boxing day is, it is basically a day where retailers attempt to get rid of all their old and excessive inventory to make room for new products for the upcoming new year. For example, imagine a $5000 television being reduced to $3000 to make room for a new model. Boxing day is actually considered as a statutory holiday here in Canada.

While there are many great deals to be found, there are surprisingly a lot of retailers who actually try to take advantage of people’s “must buy” mode during that day by selling products that are actually more expensive than usual. A common example would be walking by a clothing store and seeing a big sign stating that all shirts are 70% off the regular price with a clearance price of $20. In reality, the regular price for it was $15 and so they increased the regular price of the item to make it look like it is on sale. In the interest of saving money, it’s always good to still do some research ahead of time to make sure that you actually are getting a great deal instead of falling into that mob mentality that it must be good if everyone else is buying it. While there are many great deals to be found, just be careful of price gougers as the whole point of a day like this is to save money.

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