Black Friday and Cyber Monday are major retail events in Canada, with 43% and 29% of the population making purchases during these sales respectively, according to a YouGov report. Consumer electronics continue to lead the Canadian retail market during these events, with 55% of surveyed shoppers choosing to buy tech products on Black Friday. Household appliances come in second, with 25% of shoppers opting for these items, while 18% prefer to shop for furniture deals.

These statistics highlight the importance of delivering value during the Thanksgiving sales week. Retailers must cater to shoppers’ expectations with competitive pricing, attractive deals, and a seamless shopping experience. So, what unique offerings did Canadian retailers present to shoppers this season?

To understand the pricing and discount dynamics during BFCM 2024 in Canada, DataWeave analyzed discounts across leading consumer electronics and home & furniture retailers. Using our AI-powered pricing intelligence platform, we analyzed 37,108 SKUs across these categories for major retailers including Amazon, Walmart, Best Buy, Home Depot, and Canadian Tire from the 10th to 29th November. We focused on the top 500 products ranked for each search keyword on each retail site, using targeted terms aligned with categories like “sofa” and “wearables”.

In the following insights, the Absolute Discount represents the reduction of the selling price compared to the Manufacturer’s Suggested Retail Price (MSRP). The Additional Discount reflects how much lower the selling price is during Black Friday compared to its price a week before the sale. This metric reveals the actual or effective value of the sale event, beyond the standard discounts typically offered.

Also check out our detailed analysis of discounts and pricing for the consumer electronics, apparel, health & beauty, grocery, and home & furniture categories across major US retailers this Black Friday.

Consumer Electronics

Retailers in Focus

Consumer electronics saw robust participation from major retailers, with Amazon, Best Buy, and Walmart leading the charge. Here’s how they stacked up in terms of discounts:

• Best Buy emerged as the frontrunner in absolute discounts at 31.2%, while Amazon impressed with a notable 19.7% additional discount, indicating a strong Black Friday-specific markdown strategy.
• Walmart offered steady competition, particularly in audio and video products, which reached an average absolute discount of 37.2%. However, it’s average additional discount was only 3.1%, indicating muted BFCM-specific price reductions in this category.

Subcategory Insights

Diving deeper into consumer electronics subcategories, we observed varied discounting strategies.

• Audio & Video stood out as the most discounted subcategory, with Walmart leading at 37.2%.
• In Wearables, Walmart again took the top spot with 36.4%, while Amazon offered higher additional discounts (22.4%).
• Discounting for computers and gaming was less aggressive, highlighting strategic pricing to maintain profitability in these high-demand segments.

Brand Performance

Brand-level data highlighted how key players used Black Friday to drive visibility and sales.

• Dell led in average absolute discounts (36.7%) followed by Samsung at 36.68%
• Audio brand JBL offered significant absolute discounts at 35.9%.
• Apple and Lenovo offered comparatively fewer discounts but maintained strong visibility, as seen in their increase in the Share of Search during the sale period.

• MSI (laptop brand) and Bose (audio and earphone brand) experienced significant increases in visibility, with Share of Search increases of 5% and 3.6%, respectively.
• Notably, HP faced a decline (-3.2%) in the Share of Search, suggesting missed opportunities to align promotions with consumer interest.

Home & Furniture

Retailers in Focus

The home and furniture category saw competitive discounting, with Walmart, Canadian Tire, and Home Depot vying for consumer attention.

• Walmart took the lead with the highest absolute discounts at 36.8%. The retailer’s additional discounts were more conservative at 3.6%. This is similar to their discount levels in Consumer Electronics.
• Canadian Tire offered stiff competition, providing 31.6% absolute discounts and 25% additional discounts.
• Home Depot matched its absolute and additional discounts, maintaining consistency at 24.1%.

Subcategory Insights

Home and furniture subcategories revealed targeted discount strategies.

• Bedding emerged as the most discounted subcategory at Walmart (50.6%) and Canadian Tire (35.3%).
• Kitchenware saw competitive pricing, with Walmart leading at 42.9%, followed by Canadian Tire at 33.9%.
• Canadian Tire focused on lighting, offering the highest absolute discounts in this subcategory (38.2%)

Brand Performance

Brand-level analysis revealed stark contrasts in discounting approaches.

• Furniture brands Homcom led in absolute discounts (36.4%), while South Shore stood out with the highest additional discounts (30.2%).
• Value-oriented brands like furnishings brand Mainstays and mattress and bedding brand Zinus offered more modest discounts, focusing on consistent affordability.

• Zinus (mattresses and sofa brand) experienced a significant 7.9% increase in the Share of Search, driven by aggressive promotions.
• Home furnishings brands like Costway and Safavieh faced declines, reflecting the importance of aligning promotional strategies with consumer expectations.

Insights for Retailers and Brands

This Black Friday, Canadian retailers effectively balanced deep discounts with category-specific strategies to maximize sales. However, the fluctuating Share of Search highlights the critical need for brands to align promotions with consumer interest.

For brands and retailers looking to stay ahead of the competition, DataWeave’s pricing intelligence platform offers unparalleled insights to refine discounting strategies and boost visibility. Contact us to learn how we can help you stay competitive in this dynamic retail landscape.