Today is Cyber Monday, the busiest online shopping day of the year, and Canadian businesses are gearing up for a steady stream of consumers looking to make a dent in their holiday shopping.
The BMO 2011 Holiday Spending Outlook survey conducted by Leger Marketing found that 46% of consumers will be logging on to do their holiday gift shopping this year - up from 41% a year ago.
Douglas Porter, deputy chief economist, BMO Capital Markets, said, “As more Canadian retailers mirror U.S. sales promotions, there is the potential for significant activity on Cyber Monday.”
According to Cathy Pin, vice-president, BMO Commercial Banking, “Approximately 80% of Canadians shop online. Consequently, retailers are increasingly providing incentives and easy access for shoppers who want the added convenience of making a purchase online.
“Big box stores and boutique outlets are still popular shopping destinations, but businesses can make the most of the holiday spending season by ramping up their online presence and appealing to this growing consumer base.”
The survey also showed Canadians expect to spend an average of $1,397 during this holiday season – up from $1,305 in 2010.
JenniferHarrison
@JHarrisonBIV