Moneris Spending Report shows overall decrease of -11.23 per cent in
dollars spent, compared to 2011 game day
TORONTO, Dec. 4, 2012 /CNW/ - While the NHL lockout has left many
Canadians frustrated over the cancelled hockey season, merchants
closest to sporting arenas are being hit hardest in their pocketbooks.
Data released by Moneris® Solutions, Canada's largest credit and debit card processor, showed
that merchants at fast food businesses, restaurants and drinking
establishments near NHL hockey arenas in Winnipeg, Vancouver, Toronto,
Montréal and Calgary have experienced a sharp overall decrease of
-11.23 per cent in spending in 2012, compared to a game day in 2011.
Drinking establishments in close proximity to hockey arenas have
reported the most significant decrease in spending, at -34.68 per cent,
compared to a game day in 2011. Fast food businesses and restaurants
have experienced a decrease in overall dollars spent of -6.93 per cent
and -10.54 per cent, respectively, compared to a game day in 2011.
This recent data also indicates that some Canadian cities have been more
negatively affected than others. Fast food restaurants in Edmonton's
arena vicinity have suffered a -27 per cent decrease in the volume of
spending, compared to a game day in 2011. Montréal and Toronto have
also been blind-sided, with a -21.39 per cent and -17.27 per cent
decrease in dollars spent at restaurants and drinking establishments,
respectively, compared to a game day last year.
However, not all merchants are feeling the damaging effects of the NHL
lockout. The Moneris Spending Report indicates that fast food
businesses, restaurants and drinking establishments outside the arena
vicinities in Winnipeg, Vancouver, Toronto, Montréal and Calgary have
experienced overall growth in dollars spent of 5.43 per cent, compared
to a game day in 2011.
Overall spending at drinking establishments outside the arena vicinity
on a game day is up significantly, with an 18.93 per cent increase in
dollars spent, compared to a game day in 2011. Spending at fast food
businesses and restaurants outside the arena vicinity on a game day is
also up 11.54 per cent and 4.86 per cent, respectively, which is in
line with data from Moneris' Spending Report for Q3 in 2012. In fact,
both fast food establishments and restaurants have experienced 11.44
per cent and 4.84 per cent increases in spending during Q3,
respectively, compared to the same period last year.
"While overall spending at establishments near hockey arenas is down, it
would appear that Canadians are simply choosing to stick closer to
home," said Jim Baumgartner, President and CEO, Moneris Solutions. "We
will continue to monitor the full impact of the NHL lockout on
merchants, both near and outside the vicinity of hockey arenas,
throughout the remainder of the cancelled season to fully assess the
impact that this strike has had on Canadian spending."
About The Moneris Spending Report
The Moneris Spending Report provides a snapshot of consumer spending
activity in Canada by analyzing credit and debit card transaction data.
As the market leader with the largest merchant base, Moneris presents
detailed analysis and insight on a quarterly basis. The percentages
cited are derived from actual sales volumes - the dollar values of
credit and debit card transactions being processed by Moneris
About Moneris Solutions
As one of North America's largest providers of payment processing
solutions, Moneris offers credit, debit, wireless and online payment
services for merchants in virtually every industry segment and
processes more than three billion transactions annually. Through its
Ernex division, Moneris offers electronic loyalty and stored-value gift
card programs. With more than 350,000 merchant locations, Moneris
provides the hardware, software and systems needed to improve business
efficiency and manage payments. For more information, please visit www.moneris.com.
SOURCE: Moneris Solutions Corporation
For further information:
Natasha Dos Santos
MAVERICK Public Relations
416-640-5525, ext. 248