By Aditi Roy

As Black Friday approaches on Nov. 28, social media is flooded with ads and stores have plastered their windows with sale posters. Despite the incentivized deals, Toronto Metropolitan University (TMU) students are reluctant to participate, citing growing concerns of consumerism and rising financial pressures.

Students say they are approaching this shopping season with more caution than excitement, focusing on essentials over indulgence and making financially sound decisions. Factors like student debts, inflation and economic uncertainty are affecting students’ participation in these sales. Many are tuning out social media campaigns and campus trends, prioritizing long-term investments over impulse purchases.

Black Friday began in the U.S. and expanded to Canada around 2009, according to an Ipsos briefing. TMU associate professor of marketing, Eugene Chan said that the event helps companies clear out retailers’ old inventory, enticing consumers with large sales. 

Chan added that these sales condition the consumer’s long-term spending habits. “If consumers find a sale at a particular retailer for Black Friday, they might think of the same retailer in the new year, when they need to buy something again,” he said.

Chan went on to explain that these retailers create the illusion of urgency, which makes consumers purchase more. “Consumers feel successful when they buy things on sale because they feel like they are winning at something…they feel like they beat the retailer,” he adds.

For some students, the biggest barrier to participation is simply money. Mina Ghahremani, a third-year film student, explained her need to save money during the sales. “I use Ontario Student Assistance Program (OSAP) and I have a lot of debt to worry about…saving the money I work for just to pay off school and housing,” she said. 

Second-year social work student Amaya Medrano shares a similar financial mindset, prioritizing saving even in the midst of exciting promotions. “I feel like I just have to focus on my rent…I’m not really thinking about things,” she said. 

An outlook report from PwC Canada finds that Gen Z intends to spend 34 per cent less during the 2025 holiday season—illustrating a clear shift towards prioritizing savings as the financial pressure deepens. Statistics Canada also reports that young adults are choosing to save more by dialling back on discretionary spending due to rising costs. The growing financial pressure explains the lack of enthusiasm many are expressing for the upcoming Black Friday sales.

Not all students are opting out entirely. Third-year business management student Nived Naveen plans to partake in the upcoming sales. He notes the need to be financially responsible, having seen friends waste their money. “One friend…doesn’t have a lot of money and he just spent a good four to $500 of his OSAP money on fashion,” he said. 

Naveen plans to buy items purposefully. “I have a list of items that I was going to buy anyway,” he said. “It’s not like I’m only going there because of the deals…technically, I am saving money.” He says his purchase will be limited to essentials like a new toaster and a microwave.

While money is the biggest barrier, some cite ethics as a factor not to partake. “Younger generations are increasingly more caring about sustainability and about the environment and fast fashion,” Chan said. 

Medrano said the culture of fast fashion encourages overconsumption. “Without the sales, I think a lot of people will still feed into fast fashion because it’s already cheap,” she said.  “When there is a sale to make it even cheaper, I feel like people will definitely fall into it more.”

Research indicates greater generational awareness of fast fashion’s toll but few fully understand fast fashion’s environmental costs, while 62 per cent of Gen Z shoppers say they prefer sustainable brands, with 73 per cent willing to pay more for sustainability. Ontario generated 462,704 tonnes of textile waste in 2018, most of which ended up in landfills. 

As an arts student, Ghahremani sees a trend among her peers to favour sustainable fashion over fast fashion deals. “We are very politically oriented, so a lot of just like keeping a climate in mind,” she said. 

As we near the Black Friday sales, Chan urges students to reflect on how they choose to spend their money this holiday season. “Perhaps spending it on your friends and family can be more fulfilling than buying a product that you might not necessarily need,” he said.