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15/12/2009 -
Canadian merchants can expect more payment processing activity this holiday season compared to last year, as consumer spending has rebounded just in time for the busiest retail period of the year.Scotiabank's 2009 Holiday Spending Study found that Canadian consumers plan to spend an average of $891 this year on holiday shopping, compared to last year's average of $844.
Furthermore, gift cards will lead the spending surge, with more than half of consumers - 53 percent - intending to purchase them. This outranks traditionally popular items such as clothing - which came in at 47 percent - and toys at 40 percent.
Moreover, purchasing gift cards will be a wise choice for that 53 percent of consumers, because gift cards also topped the wish lists of the majority of Canadians (44 percent).
The survey also found that, despite the growing attention given to ecommerce websites, in-store purchases remain the shopping method of choice for 93 percent of consumers.
To help them get the most out of this spending surge, experts advise Canadian merchants to offer merchant services such as debit card, gift card and credit card processing, to ensure that they are providing the best customer experience as possible.
