Canadian Retailers Enjoy Holiday Kickoff

Dec. 9, 2013

While retail sales on the Black Friday weekend in the U.S. were somewhat disappointing, Canada’s top credit-card processor said things were rosier north of the border. Moneris Solutions reported on Friday that the traditional kickoff of the holiday shopping season in the U.S. is beginning to gain traction in Canada as well. Black Friday sales were up for Moneris merchants nearly 20 percent compared to last year and online sales on Cyber Monday saw a jump of more than 29 percent over the same day in 2012.

Several retail categories saw significant online increases on Cyber Monday including sporting goods (105.46 percent) and shoes (93.43 percent).

“This year’s Black Friday and Cyber Monday were a real win-win for Canadian shoppers and merchants, alike,” said Jeff Guthrie, chief sales and marketing officer at Moneris. “While shoppers took advantage of pre-holiday bargains, merchants boosted their end-of-year revenues, with nearly all retailers seeing their sales increase significantly compared to 2012. This spending spike might be an early sign of a busier holiday shopping season this year.”