Forget lining up at the border for the privilege of lining up again at a U.S. store on Black Friday -- for many Canadians, logging in for Cyber Monday is where it's at.
"We are hearing fantastic feedback about (Cyber Monday.) It's going great partly because there's a lot of people pushing out Black Friday/Cyber Monday sales, much more so than in years past," said Derek Szeto, founder of the online shopping site Redflagdeals.com.
"Canadian retailers have really gotten into this promotion this year in a scale they just have not traditionally," Szeto said in a telephone interview.
Cyber Monday has been with us since 2005 when a marketer correctly noticed consumers spend more when a day has a special name. It's no joke.
Last year, Americans spent more than $1 billion on Cyber Monday-- the most they spent online any day of the year.
Canadians -- as we tend to be when it comes to marketing trends -- are a little behind the curve, but we're catching up.
A recent Ipsos Reid poll done for e-commerce giant PayPal said that 52 per cent of Canadians are aware of Cyber Monday, up drastically from 24 per cent last year.
"Canadians are shopping more and more online, partially because there is more selection and opportunity to do so now," Szeto said, noting mega retailer Wal-Mart finally went online in Canada this year.
Canadians are becoming increasingly comfortable with shopping online, as the Bank of Montreal says that 46 per cent of Canadian respondents in a survey said they planned to do their holiday shopping online this year. That's up from 41 per cent last year.
Between Cyber Monday and its offline cousin, Black Friday, there are dozens of major Canadian retail outlets offering sales including: Amazon.ca, Apple.ca, Banana Republic, Best Buy, the Body Shop, Canadian Tire, Chapters and Indigo, Dell.ca, Future Shop, the Gap, Home Outfitters, La Senza, Lululemon Athletica, Old Navy, PetSmart, Sears, Sephora, The Source, Sport Chek, Sport Mart, Toys "R" Us, Wal-Mart and Zellers.
With that much selection, your shopping needs should be covered.
"As more Canadian retailers mirror U.S. sales promotions, there is the potential for significant activity on Cyber Monday. More than ever, Canadian shoppers are taking notice and adjusting their retail calendar," Douglas Porter, deputy chief economist of BMO Capital Markets, said in a statement earlier this week.
Szeto says many retailers are running sales starting on Black Friday for the entire week, incorporating Cyber Monday into the discounts.
Of course, Cyber Monday is not just limited to deals from Canadian retailers. Those south of the border want your credit card information, too. Some retailers are offering incentives such as free shipping to Canada, which can make the lower prices in the U.S. even more attractive.
Certain U.S. retailers like Bloomingdale's, J.C. Penney and Macy's offer Canadian shipping and include taxes and duty costs right at checkout.
According to Visa Canada, a third of online Canadians shoppers planned to shop at American outlets between Black Friday and Cyber Monday.
Szeto says the best advice for online shoppers on Cyber Monday is to "be prepared."
He says shoppers should create their online payment accounts in advance, pay careful attention to what time the sales start, and to be on the retailer's website when those sales begin.
Canada's commercial weapon: Boxing Day
For a variety of reasons, Canadian retailers have never really matched the deep discounts that are common on Black Friday in the U.S. -- the main reason being that Canada has a Boxing Day.
For example, Future Shop is having sales on Black Friday and Cyber Monday, but the company still plans to hold its biggest discounts and promotions during its traditional Boxing Day sales.
Companies are also turning to social media to lure in customers for Cyber Monday. Best Buy Canada used Twitter to announce it was having Cyber Monday sales for the first time in its history. Several companies are hoping you "Like" their deals on Facebook.
Due to its online nature, companies can spend much less money to advertise Cyber Monday deals (a Facebook link is much cheaper than a print ad) and by harnessing social media, they can hope their customers do much of the promoting for them. A win-win situation for both retailer and consumer.
