“Monster” 2013 Holiday Season a Good Sign for Canadian Retailers

Mobile payments world

Online spending picks up during the holiday season and, last year, according to a new report generated by the J.C. Williams Group, the 2013 was a “monster” for Canadian online retailers. Canada has fallen behind other countries, particularly the United States, in capitalizing on the boom of the digital marketplace. But the installation and use of new credit card payment processing systems can help bridge the gap. Though there are certain other factors at place, businesses who want to improve eCommerce numbers both now and in the future will need to make sure that they can easily accept credit cards online.
According to the report, nearly two-thirds of online Canadians turned to internet retailers to buy gifts for family, friends, and even themselves. They spent almost double of those who did not use the internet. The average online shopper spend $746 while those who headed to brick and mortar retailers spend just $382.
“Whether they bought online or in other channels, the online shopper is one that every retailer should be actively courting,” said J.C. Williams Group senior partner Maureen Atkinson.
“[The] report confirms what Canadian online retailers already know; that the holiday season 2013 was a monster for online retailers who serve Canadians,” she added.
For the most part, the increased use of credit card payment processing systems for online purchases has been beneficial not just to businesses who have been able to increase sales, but consumers as well. Consumers have been better able to take advantage of the convenience of shopping online and also said that there is a greater selection to choose from online than in stores. Plus, they are taking advantage of deals and discounts that businesses are offering to try to promote their business.
“Canadians have responded to these tools and offers by opening their wallets,” Atkinson said.
One of the main challenges for Canadian businesses looking to improve their online sales numbers has been consumers buying items from different countries, including the U.S. The survey found that 62% of shoppers had made cross-border purchases at some point, which means global competition needs to be overcome for Canadian online retailers. If new credit card payment processing systems are installed and used, the number of consumers who shop elsewhere could drastically decrease.
Going forward, if Canadian retailers want to prevent consumers from ordering online from other countries and provide the best buying experience possible, they will need to make sure that online credit card transactions are completed accurately and in a timely fashion. Without doing so, they could struggle to compete with other markets.

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