e-Commerce posts higher than expected growth rate for 11th consecutive month
TORONTO, Sept. 13, 2012 /CNW/ - Today, MasterCard Canada released economic insights from the MasterCard Advisors SpendingPulse report, indicating online spending grew more than 37% in August when
compared to e-Commerce sales in August 2011. The 40th consecutive positive year-over-year monthly growth rate for e-Commerce
demonstrates a significant shift in Canadians' spending habits.
"August is a busy month for many Canadians. Families and students are
preparing for back to school and shopping is top of mind. Many of them
like the convenience of online shopping and the added benefits of going
cashless," says Richard McLaughlin, Senior Vice President, MasterCard
Canada. "As more and more people embrace mobile payment options, we
will continue to see the benefits of e-Commerce on the Canadian
There were substantially more e-Commerce sales recorded in August 2012
(in dollar terms) than in any other August in previous years. The
three-month average growth rate moved above the 30% mark for the first
time in 2012. The total Canadian retail sales for August 2012 increased
to 3.6% versus August 2011.
"The growth of e-Commerce in Canada is significantly outpacing overall
retail sales growth. Driving this trend are the financial advantages
e-Commerce offers to retailers and consumers," said Michael McNamara, Vice President of Research and Analysis for MasterCard Advisors
SpendingPulse. "The lower costs often associated with operating online
stores provides an opportunity for higher margin sales for retailers
while potentially lower prices for consumers. It offers a 'win-win'
sales model for retailers and consumers alike."
Other highlights from the August 2012 MasterCard Spending Pulse report
August marked the 34th consecutive month of positive growth for total retail sales in Canada.
Grocery sales for August 2012 were higher than average sales for August
in the previous 5 years
Department store sales were up over 10% in August when compared to
Gasoline sales saw a double-digit year-over-year growth in August.
SpendingPulse launched in the United States in March 2006 and is one of
the most frequently cited measures of the U.S. retail economy. In
Canada, SpendingPulse began offering reports starting in January 2012
to subscribers, providing granular, industry-specific sales figures
across all payment modes with accuracy and timeliness.
SpendingPulse reports are available on a subscription basis, released
monthly and track, month-over-month, year-over-year changes and other
relevant breakouts. The insights help businesses better understand the
economic environment in which they operate and make informed decisions.
SpendingPulse reports can be shared within a corporation and are
applicable to decision makers who operate within the investments, risk,
media, consumer payments and merchant arenas.
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's
fastest payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than 210
countries and territories. MasterCard's products and solutions make
everyday commerce activities - such as shopping, traveling, running a
business and managing finances - easier, more secure and more efficient
for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
About MasterCard SpendingPulse
A macro‐economic indicator, MasterCard SpendingPulse reports on national retail sales and is based on aggregate sales
activity in the MasterCard payments network, coupled with survey-based
estimates for certain other payment forms, including cash and cheque.
MasterCard SpendingPulse does not represent MasterCard financial
performance. SpendingPulse is provided by MasterCardAdvisors, the
professional services arm of MasterCard International Incorporated.
MasterCard SpendingPulse reports and content, including estimated
forecasts of spending trends, do not in any way contain, reflect or
relate to actual MasterCard operational or financial performance, or
specific payment-card-issuer data.
About MasterCard Advisors
As the professional services arm of MasterCard Worldwide, MasterCard Advisors is uniquely qualified to provide clients with insights and solutions
that drive tangible impact and financial gain. MasterCard Advisors
provides payments consulting, information, analytics, and customized
services that deliver value to its customers. In doing so, the company
uses information to create products and services in which privacy and
security are fundamental to their design. A technology company that is
an electronic payments leader, MasterCard is committed to the
responsible use of information and pledges strong privacy protection
for the transaction data the company processes. Its information
management practices support the company's mission to make payments
safe, simple and smart. For more information, go to www.mastercardadvisors.com
SOURCE: MasterCard Canada
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