Heather Thomson with the Edmonton Chamber of Commerce joined CTV Morning Live’s Kent Morrison to explain the psychology of a deal and how to spend mindfully this holiday season.
This transcript has been edited for length and clarity.
Kent Morrison: There’s certainly no question, finding a deal and paying less feels good. However, the impulse to capitalize on a sale can cost us in the long run. We are bombarded between Black Friday, Cyber Monday and Boxing Day coming up with texts, emails, social media and marketing to us that we have to take advantage of these deals. Why is that such a popular and strong strategy for companies?
Heather Thomson: Well, it’s not a new strategy, let’s start with that. Around the holidays, businesses make about a third of their sales in about a five-week period. We start to see the promotions for the holiday spending coming earlier and earlier. I think back-to-school shopping is done, and then we’re right into …