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SOURCE Moneris Solutions Corporation
Moneris Spending Report shows an overall spending increase of nearly 8
per cent over the same day last year
TORONTO, Feb. 22, 2013 /CNW/ - Merchants across Canada were feeling
especially loved this Valentine's Day, according to Moneris Solutions
Corporation ("Moneris"), Canada's largest credit and debit card
processor. The Moneris Spending Report reveals that purchases made on
Valentine's Day increased by an impressive 7.84 per cent nationally,
compared to the same day last year.
Alcohol led the way in spending, with a 52 per cent increase compared to
the same day last year, followed closely by hotels and entertainment,
at 45.06 per cent and 34.08 per cent, respectively. Specifically within
the entertainment category, catching up on the latest romantic comedy
was a popular Valentine's Day activity this year, as movie theatre
ticket sales skyrocketed by 247 per cent, compared to 2012. Tickets to
theatrical productions also increased significantly compared to the
same day last year, by 107.97 per cent.
On the other hand, cosmetic stores saw their sales drop by -2.36 per
cent, compared to the same day last year. Tourist attractions, such as
museums and art galleries, remained fairly consistent with a 0.14 per
cent increase in the total volume of spending when compared to
Valentine's Day 2012.
Manitobans were the most generous valentines in 2013, as the province
experienced a 19.38 per cent increase in total Valentine's Day spending
compared to the previous year, followed by Québec and Alberta at 14.58
and 10.94 per cent, respectively. Ontario showed a very modest spending
growth of 4.39 per cent compared to 2012.
Not surprising, overall spending on Valentine's Day was up 9.20 per cent
compared to the previous Thursday, with the restaurant category
experiencing the highest level of growth at 60.68 per cent, followed by
apparel at 19.61 per cent. While flowers remained a hugely popular
specialty retail item on Valentine's Day - with an impressive spike in
sales of 362.96 per cent compared to February 7 - florists experienced
very little sales growth (at 3.83 per cent), compared to the same day
last year. Jewellery sales - another popular retail item - also grew by
150.94 per cent compared to the previous Thursday and by 12.46 per cent
compared to Valentine's Day in 2012.
"Valentine's Day spending seems to indicate that consumer confidence in
Canada is holding strong," said Malcolm Fowler, Vice President of
Marketing, Moneris Solutions. "We anticipate this economic trend to
continue as we round out the first quarter of 2013."
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
merchants.
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.
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