Moneris Solutions Corporation

Moneris Solutions Corporation

December 17, 2009 09:00 ET

It's Beginning to Look a Lot Like Christmas: Canadian Retailers Are Processing More Payments This Holiday Season

Data by Moneris shows restored confidence in the Canadian economy

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2009) - Retailers may be getting more in their stockings this year given the amount of pre-holiday season spending over the past several weekends. With just one more week until Christmas, findings from Moneris Solutions, Canada's largest debit and credit card payment processor, reveal that Canadian consumers are spending more this year than they did leading up to last year's holiday season.

According to the findings, retail spending during the first weekend of December (Dec. 4-6, 2009) increased by nearly five per cent compared to the same weekend last year. Department stores were the clear winners with a 12.8 per cent increase in sales over the same time last year, while clothing stores saw a 5.4 per cent increase and drugstores experienced a 3.8 per cent increase over last year. The momentum continued the second weekend in December (Dec. 11-13, 2009) with retail spending increasing by almost six per cent compared to the same weekend in 2008. Clothing sales soared on the second weekend, with apparel retailers experiencing an 11.4 per cent increase in sales over the same period last year.

With both debit and credit card options in their wallets, consumers showed a slight preference towards debit cards. Debit card transactions were up significantly earlier this year while credit card transactions saw a resurgence as the economy recovered.

"As the Canadian economy begins a trend toward recovery, the increase in pre-holiday spending is a clear indication of renewed consumer confidence," said David Ades, Senior Vice President, Sales and Marketing, Moneris Solutions. "Canadians are clearly more optimistic about the future this year than they were during this time last year, and retailers are capitalizing on this by using creative marketing tactics to draw them in early and often."

Moneris' 2009 pre-holiday spending data compared national retail sales during the past five weekends with the same period last year. The data covers all merchant categories and tallies the dollar value as well as the number of transactions made on Moneris debit and credit card terminals across the country.

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

  • Media Contact:
    MAVERICK Public Relations Inc.
    Daniel Weinerman
    416-640-5525, ext. 245
    danielw@maverickpr.com