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14/09/2009 -
Following three quarters of declines, Canadian household net worth rebounded in the second quarter of 2009 to reach $5.6 trillion, Statistics Canada reported Monday.Largely due to an increase in value of household financial assets - thanks to a 20 percent rise in the Standard and Poor's / Toronto Stock Exchange composite index - household net worth grew by $141 billion.
In addition, an upswing in consumer credit and increased activity in the resale housing market saw a rise in household credit market debt, though this made little difference in the figure for household debt relative to net worth.
As a result, consumers may find themselves with more money in their pockets and therefore more spending power, which may be soon reflected in business sales.
To ensure that they are well-positioned to reap the benefits of this increased spending, Canadian merchants are advised to make sure their point-of-sale (POS) technology is up-to-date.
Outdated POS terminals can not only slow down the checkout process - which may cause the business to lose potential customers and sales - but it can also put the merchant at risk for a security breach.
