Despite a recent decline in the Buy Canadian movement, some business owners remain optimistic about sustained growth during Black Friday and the holiday shopping season. The movement gained momentum earlier this year as consumers shifted to Canadian products in response to trade tensions and threats from U.S. President Donald Trump.
Recent data indicates a drop in the trend’s popularity since its peak. Statistics Canada’s latest report revealed that nearly 70% of businesses did not witness increased sales of Canadian products in the past six months, with only about 13% noting a rise. Experts attribute this shift to factors like inflation and the reduction of Canada’s counter tariffs on U.S. goods, making American products more affordable and possibly prompting a return to previous buying habits.
A Bank of Canada survey also disclosed that most consumers were unwilling to pay more than a 10% premium for Canadian-made items. François Neville, a strategic management professor at McMaster University, noted a sustained preference for Canadian goods but acknowledged a decline in fervor compared to the initial anti-tariff sentiment.
Some businesses, however, report continued success with the Buy Canadian movement. Province of Canada owner Julie Brown highlighted a significant increase in sales throughout the year, necessitating an expansion of their workforce. Similarly, Shop Makers president Chris Sharanewych shared positive results, with the company witnessing substantial growth and opening new stores.
A Business Development Bank of Canada survey forecasts that Canadian households will allocate a larger portion of their holiday budget to local products and services this year, fostering job creation within the country. The survey also revealed that a significant percentage of Canadians plan to increase spending on Canadian goods, potentially injecting billions into the economy.
While some consumers prioritize buying local to support the economy, others consider pricing a crucial factor in their purchasing decisions. As the holiday season approaches, individuals like Robert Cory and Gregory Jourard express varying views on the importance of supporting Canadian products while also considering budget constraints.
