Canadian children headed back to school in style this year, according to reports from Moneris Solutions, the country’s largest processor of debit, credit and gift card payments. The firm’s data on consumer spending showed people spent more money on clothing and books during the three weeks leading up to Labor Day this year, choosing to […]
Canadian children headed back to school in style this year, according to reports from Moneris Solutions, the country’s largest processor of debit, credit and gift card payments.
The firm’s data on consumer spending showed people spent more money on clothing and books during the three weeks leading up to Labor Day this year, choosing to save money when it came to school supplies. Children’s clothing stores reported showed credit card dollar volumes were up 7 percent over the same period in 2008, while bookstores posted a 10 percent gain. Stationery stores, on the other hand, posted flat sales this season. Similar patterns were seen in Canadians’ debit card spending.
“Higher dollar volumes in both credit and debit card transactions tell us that increased consumer activity is not just the result of people swiping their cards more—they actually are spending more,” said David Ades, Moneris Solutions’ senior vice president of sales and marketing. “These numbers are an encouraging indication of renewed consumer confidence, and we share business owners’ optimism that this early momentum is a sign of things to come this holiday season.”
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