Moneris Solutions Corporation

Moneris Solutions Corporation

February 16, 2012 14:53 ET

2012 Winterlicious is a Savoury Hit With Toronto Diners

The Moneris Spending Report confirms an increase in restaurant spending during foodie festival

TORONTO, ONTARIO--(Marketwire - Feb. 16, 2012) - The 2012 edition of Toronto's Winterlicious festival proved to be a popular event among city diners and a great success for participating restaurants. Data released by Moneris Solutions, Canada's largest credit and debit card processor, showed a 13.5 per cent increase in overall dollars spent at restaurants, on a week-over-week basis, during the 14-day festival.

The two weekends (January 27-29 and February 3-5) of this year's event, the largest in its 10-year history, nearly doubled the revenues of participating restaurants, compared to their average daily sales in 2011. Sunday, February 5, was the epicure festival's biggest day in terms of dollars spent, followed closely by Saturday, January 28 - both days saw a 73 per cent increase for participating restaurants. During the event period, Tuesdays proved to be the slowest days in terms of restaurant sales.

In comparison to the 2011 festival, this year's Winterlicious resulted in higher consumer spending with a 4.6 per cent increase in the overall dollars spent. The category of fast food restaurants also saw a jump in overall dollars spent of 23.2 per cent, while drinking places saw a slight decrease of -3.2 per cent in spending, in comparison to the same period of the previous year.

Winterlicious also benefited many non-participating restaurants who realized an increase of eight per cent in spending on January 28, and a three per cent increase on February 5. This residual effect may have been due to the popularity of the event which caused many participating restaurants to be fully booked.

Grocery store sales, however, saw a drop of -0.9 per cent, which may indicate that Torontonians sought to take advantage of the wide variety of prix fixe menu options offered during this period.

"Winterlicious is a great opportunity for Torontonians to experience our city's unique culinary offerings, while giving the restaurant industry a welcomed boost during a typically slower service period," said Santo Ligotti, head of public relations for Moneris. "In short, it's a win-win for diners, restaurant owners, hospitality staff, and Toronto's economy. The event proves to be very successful each year and its popularity shows no signs of waning."

The prix-fixe food festival ran from January 27 to February 9, and included 175 restaurants. Three-course prix fixe lunch menus varied from $15 to $25 per person, while dinner menus were in the $25 to $45 range.

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 merchants.

About Moneris Solutions

As one of North America's largest providers of payment processing solutions, 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.

Contact Information