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SOURCE Moneris Solutions Corporation
Moneris Spending Report shows 14.54 per cent year-over-year increase in
TORONTO, Dec. 20, 2013 /CNW/ - Moneris Solutions Corporation
("Moneris"), Canada's largest credit and debit card processor,
announced today that 2013 pre-holiday online consumer spending
increased by 14.54 per cent compared to last year, while in-store
shopping decreased slightly - by -2.06 per cent - during the same
period. This indicates a shift in the shopping behaviours of Canadians
away from traditional in-store purchasing towards more mobile buying
The Moneris Spending Report analyzed credit and debit card transactions
in Canada between December 3, 2013 and December 16, 2013. During this
period, the apparel category saw the largest increase in online
spending, at 31.11 per cent, compared to the same period in 2012.
Apparel was followed by entertainment (29.85 per cent), household
(22.56 per cent), hotels (17.54 per cent) and specialty retail (11.00
per cent). Within the apparel category, women's ready-to-wear retailers
experienced the highest year-over-year increase in spending, at 67.50
per cent. In the specialty retail category, shoes (56.57 per cent) and
sporting goods (36.29 per cent) were the most popular items purchased
online by Canadian shoppers.
Within the specialty retail category, jewellery stores and cosmetic
stores saw their in-store sales drop by -11.64 per cent and -8.27 per
cent, respectively, compared to the same period last year.
Interestingly, while in-store consumer electronic purchases were down
by -13.08 per cent, online purchases of these items jumped by 23.13 per
cent during the same period. This may suggest that Canadian shoppers
preferred to buy these items using their mobile devices rather than
braving the crowds and line-ups in store - a trend also experienced on
Cyber Monday 2013 (which saw its year-over-year sales of these
big-ticket items increase by 45.82 per cent).
Regionally, all provinces experienced a modest overall decrease in
in-store spending during the pre-holiday period, as compared to last
year. Prince Edward Island saw its spending fall by -5.87 per cent,
followed by New Brunswick and Manitoba, at -5.18 per cent and -5.07 per
cent, respectively. Alberta experienced the smallest year-over-year
drop in in-store spending, at -1.27 per cent, followed by Saskatchewan
(-1.34 per cent) and Ontario (-1.55 per cent).
"In today's increasingly mobile world, the Moneris Spending Report shows
that Canadians are turning to cyber space to make many of the purchases
they used to make in traditional brick-and-mortar retail environments
in the past," said Jeff Guthrie, Chief Sales and Marketing Officer at
Moneris. "Despite a slight drop in in-store pre-holiday spending, this
year's dramatic increase in online sales also suggests that consumer
confidence in Canada remains strong as we are heading into the busiest
shopping season of the year, closer to Christmas and Boxing Day."
About The Moneris Spending Report
The Moneris Spending Report provides a snapshot of consumer spending
activity in Canada by analyzing credit and debit card transaction data.
As the market leader with the largest merchant base, Moneris presents
detailed analysis and insight on a quarterly basis. The percentages
cited are derived from actual sales volumes - the dollar values of
credit and debit card transactions being processed by Moneris
About Moneris Solutions
As one of North America's largest providers of payment processing
solutions, Moneris Solutions Corporation ("Moneris") offers credit,
debit, wireless and online payment services for merchants in virtually
every industry segment and processes more than three billion
transactions, annually. Through its Ernex division, Moneris offers
electronic loyalty and stored-value gift card programs. With more than
350,000 merchant locations, Moneris provides the hardware, software and
systems needed to improve business efficiency and manage payments. For
more information please visit www.moneris.com.