BMO's Annual "Cyber Monday" Report: Canadian Businesses

BMO's Annual "Cyber Monday" Report: Canadian Businesses Prepare for
Online Shopping Rush 
- Forty-four per cent of Canadians plan to shop online on Cyber
Monday; 50 per cent plan to shop online during the holiday season  
- Shopping malls still top destination for Canadian holiday shoppers  
- Number of Canadians who plan to cross border shop in the U.S. down
from 2011 
TORONTO, ONTARIO -- (Marketwire) -- 11/24/12 -- With Cyber Monday
just days away, Canadian businesses are gearing up for consumers who
plan to go online to shop. However, despite a growing online shopping
trend, today's BMO study found that Canadians are still most likely
to opt for a 'real' shopping cart over a 'virtual' checkout this
holiday shopping season.  
(NOTE: Cyber Monday refers to the Monday following American
Thanksgiving.) 
Cyber Monday  
According to the 2012 BMO "Cyber Monday Report", 44 per cent of
Canadian consumers plan to shop online this coming Cyber Monday.
Interestingly, 16 per cent will be buying gifts for others, five per
cent will be buying gifts for themselves, and 23 per cent will be
shopping for both themselves and others. Men are almost three times
more likely than women to be making a purchase just for themselves
(eight per cent vs. three per cent). 
Regionally, Quebecers are least likely (19 per cent) to shop online
on Cyber Monday, and those in the Atlantic provinces are most likely
(56 per cent).  
"With online shopping becoming a critically important sales channel
for retailers, we are beginning see Canadian businesses making
investments and increasing their online focus to make the shopping
experience as convenient and easy as possible," said Steve Murphy,
Senior Vice President, Commercial Banking, BMO Bank of Montreal. "For
Canadian consumers and businesses, Cyber Monday has become the
kick-off to the online holiday shopping season, and by far the
busiest online shopping day of the year."  
Douglas Porter, Deputy Chief Economist, BMO Capital Markets, adds,
"As more Canadian retailers mirror U.S. sales promotions, there is
the potential for significant activity on Cyber Monday. More than
ever, Canadian shoppers are taking notice and adjusting their retail
calendar." 
Where Will Canadians Be Shopping this Holiday Season? 
The BMO report, conduct
ed by Pollara, found that 50 per cent of
Canadians say they plan to do some of their shopping online for gifts
this holiday season - up four percentage points from 2011, and nine
percentage points from 2010. Despite the growing trend toward online
shopping, the report found that, overwhelmingly (77 per cent),
Canadians plan to make purchases in person at a shopping mall. Other
popular choices include: 


 
--  Big box stores - 57 per cent 
--  Outlet or discount stores - 46 per cent 
--  Independent boutique shops - 25 per cent 

 
In addition, the survey found that 13 per cent of Canadians plan to
shop south of the border in the U.S - down from 18 per cent in 2011.
British Columbians, at 22 per cent, are the most likely to plan to
cross-border shop. 
Canadians 65 and older are less likely to shop online during the
holiday season (35 per cent), as are those in Quebec (36 per cent).
Albertans (59 per cent) are the most likely to make a purchase over
the internet.  


 
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Where do you plan to do                                                     
 your holiday shopping                                                      
 this year?                   National    ATL     QC    ON MB/SK    AB    BC
----------------------------------------------------------------------------
Shopping Malls                     77%    87%    66%   80%   76%   81%   79%
----------------------------------------------------------------------------
Big Box Stores                     57%    51%    65%   51%   58%   59%   58%
----------------------------------------------------------------------------
Online                             50%    49%    36%   57%   45%   59%   53%
----------------------------------------------------------------------------
Outlet or Discount Stores          46%    52%    26%   56%   39%   53%   46%
----------------------------------------------------------------------------
Independent Boutique Shops         25%    27%    26%   23%   19%   26%   33%
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South of the Border, in                                                     
 U.S. Stores                       13%    11%     6%   15%   11%   14%   22%
----------------------------------------------------------------------------

 
The survey results cited in the 2012 BMO Cyber Monday Report
conducted by Pollara are compiled from a random online survey of
1,000 Canadians 18 years of age and over between October 11 and
October 16, 2012. A probability sample of this size would yield
results accurate to +/- 3.1 per cent, 19 times out of 20.  
About BMO Financial Group  
Established in 1817 as Bank of Montreal, BMO Financial Group is a
highly diversified North American financial services organization.
With total assets of $542 billion as at July 31, 2012, and more than
46,000 employees, BMO Financial Group provides a broad range of
retail banking, wealth management and investment banking products and
solutions.
Contacts:
Media Contacts:
Paul Cunliffe, Toronto
(416) 867-3996
paul.cunliffe@bmo.com 
Valerie Doucet, Montreal
(514) 877-8224
valerie.doucet@bmo.com 
Laurie Grant, Vancouver
(604) 665-7596
laurie.grant@bmo.com 
Internet: www.bmo.com
Twitter: @BMOmedia
 
 
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