Moneris Solutions Corporation

Moneris Solutions Corporation

December 21, 2010 17:00 ET

2010 Holiday Spending Up 2 Per Cent Over 2009

Moneris Solutions Reports Growth Across Categories, Including Apparel, Fast Food and Entertainment

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2010) - Moneris Solutions (Moneris), Canada's largest payment processor, today announced that 2010 holiday spending saw an overall increase of two per cent from 2009.

Real-time data collected by Moneris over the last five weeks, ending December 19, 2010, shows a general overall increase. Leading up to the holidays, apparel saw sales volumes grow at 5.08 per cent compared to the 5.06 per cent decline of department stores. In line with the frantic pace of the holiday season, fast food sales have soared, creating a significant 18 per cent increase compared to the 2009 volumes. Grocery and drug stores also saw a two per cent increase in sales this year. 

Overall, entertainment increased by 13 per cent, showing that Canadians are inclined to participate in more than just shopping during the holiday season. Also notable was the 12 per cent increase of airline tickets. This growth was particularly dominant in December.

Electronic store sales decreased 8.82 per cent during the past five weeks, indicating that many consumers may be waiting for Boxing Day sales. Music stores also have not faired well this holiday season, with 13.62 per cent decrease in overall volume.

Newfoundland saw the biggest growth in the East Coast, at 6.36 per cent, and Saskatchewan in the Prairies, with 4.91 per cent increase. Alberta has experienced consistent growth throughout 2010, with the holiday spending period showing a 3.8 per cent increase. Quebec and Ontario demonstrated a minimal growth of 1.4 and 2 per cent respectively, while British Columbia was flat.

Online shopping continues to grow in popularity with a 7.5 per cent increase in sales volume across the country compared to last year. While Quebecers have strongly adopted this channel with an overall increase of 20 per cent, those in Newfoundland are turning to more bricks and mortar, with a decline of 6.4 per cent in online sales.

Moneris predictions indicate that busiest shopping day in 2010, in terms of number of transactions processed, will be December 23, 2010. The busiest shopping day, in terms of transactions per second, will be December 24 when the number will exceed 400 between the hours of 1 and 2pm EST.

"Despite deep recessionary concerns, the increase in pre-holiday spending is a good indication of renewed consumer confidence and positive ending to what has been a good year for retailers overall," said Jim Baumgartner, CEO, Moneris Solutions. "This is a good signal as we are heading into 2011." 

About Moneris Solutions

As one of North America's largest providers of payment processing solutions, Moneris offers credit, debit, and wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Erne 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.

Contact Information

  • Media Contact:
    MAVERICK Public Relations Inc.
    Kirsten Walkom
    416-640-5525, ext. 245