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14/08/2009 -
Canadian retailers, restaurants and other merchants may be able to expect increased sales, as consumers have become more confident about the economy, optimistic about the future, and comfortable with spending.In the latest indication of a potential economic rebound, the newly released Consumer Confidence Index from TNS Canada Facts found that the overall index of consumer opinion has increased 6 percent since July to reach 99.2.
In addition, the present situation index - a measure of how confident Canadian consumers feel about the current economy - rose 4.3 points to 83.4.
The expectations index - which measures consumers' estimation of the economy in the next six months - rose the most, increasing 8.5 points from the previous month to hit 111.1.
Perhaps most importantly, the buy index, which measures the extent to which consumers think it is currently a good time to make purchases, gained five points to reach 108.3 in August.
With Canadian consumers easing up on spending restrictions and getting back into confidence mode, it is more important than ever for merchants to prepare themselves for all types of payment options - businesses who accept debit cards, credit cards and even gift cards will benefit the most from this increase in consumer spending.
