Moneris Solutions

Moneris Solutions

September 27, 2007 12:31 ET

Moneris Solutions: Card Spending During Toronto International Film Festival Surpasses 2006

Attendee passion for art, alcohol and antiques translates into big bucks for Canadian retailers

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2007) -

Attention: News and Entertainment Editors

According to data released today by Moneris Solutions Corporation (Moneris), movie-goers opened their wallets for more than just films at the 2007 Toronto International Film Festival®(TIFF). With spending up an additional 4% over last year's increase of 10%, TIFF continues to bolster Toronto's economy during its short but sweet 10-day run.

Data gathered from this year's festival, which took place September 6-15, shows that festival goers helped boost Toronto's economy by generating significant spending swells in several categories:



Dining/Hospitality - The 10-day blitz had an impact on Toronto's eating,
drinking and lodging establishments

- Hotels saw an increase of 6%
- Restaurants increased by 13%
- Tourist attractions and exhibits increased by 13%
- Alcohol purchases skyrocketed by 32%


Buying - Customers didn't shy away from making fancy purchases

- Jewellery purchases jumped 19%
- Art dealers and galleries increased a whopping 35%
- Antique shop sales saw an increase of 30%


Primping - Toronto's esthetics establishments were frequented

- Health and beauty spas increased by 14%
- Beauty shops/barber shops saw an increase of 11%


"The Toronto International Film Festival continues to have a huge impact on Toronto's economy," says Brian Green, Senior Vice President, Moneris Solutions. "As Canada's largest electronic payment processing provider, we continue to take the pulse of consumer buying behaviour during this important cultural event and see the true benefits it brings to merchants city-wide."

The hard work and dedication of The Toronto International Film Festival Group continues to make TIFF such a big success. The organization's commitment to transforming the way people see the world has a significant impact on Toronto merchants each year.

"We strive to make this festival a worldwide cultural necessity, and do what we can to ensure that it benefits the Canadian economy," says Piers Handling, Director and CEO, Toronto International Film Festival Group. "We know that it has a significant impact on local merchants and thank Moneris for continuing to closely monitor its influence."

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. Through its Ernex division, Moneris also provides electronic loyalty and stored-value card programs. With more than 350,000 merchant locations generating close to three billion transactions annually, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.

The data cited in this news release is based on Moneris' aggregate data of debit and credit card transactions across thousands of merchant locations in the GTA. The percentages cited are derived from actual sales volumes i.e. the dollar values of debit and credit card transactions being processed by merchants in the timeframes indicated.

About the Toronto International Film Festival Group

The Toronto International Film Festival Group (TIFFG) is a charitable, not-for-profit, cultural organization whose mission is to transform the way people see the world. Its vision is to lead the world in creative and cultural discovery through the moving image.

TIFFG's initiatives include Canada's Top Ten, Cinematheque Ontario, Film Circuit, The Film Reference Library, Reel Talk, Sprockets Toronto International Lim Festival for Children and the Toronto International Film Festival. Currently, TIFFG is building Bell Lightbox a dynamic international destination that celebrates the moving image at the corner of King and John Street in Toronto.

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