REPEAT-BMO Annual Cyber Monday Report: Nearly Half of Canadians Planning to Join the Online Shopping Rush

REPEAT-BMO Annual Cyber Monday Report: Nearly Half of Canadians Planning to 
Join the Online Shopping Rush 
- Intent among Canadians to shop on Cyber Monday increases 11 per
cent from 2012 
- Digital wallets growing in popularity as 50 per cent of Canadians
plan to shop online this holiday season 
TORONTO, ONTARIO -- (Marketwired) -- 11/30/13 -- Cyber Monday - one
of the busiest online shopping days of the year - is continuing to
grow in popularity for Canadian consumers.  
According to the 2013 BMO Holiday Spending Outlook, nearly half (49
per cent) of Canadians plan to shop online this Cyber Monday - the
Monday following American Thanksgiving - up from 44 per cent in 2012. 
The survey, conducted by Pollara, also found:  


 
--  Those planning to make purchases on Cyber Monday this year expect to
    spend an average of $273, led by those in Ontario ($288) and Quebec
    ($284) 
--  Regionally, Ontarians are most likely (61 per cent) to shop online this
    Cyber Monday. Quebecers were the least likely, coming in at 31 per cent.
--  Overall, 50 per cent of Canadians plan to do some of their holiday
    shopping online. 

 
"Canadian retailers have jumped on the marketing bandwagon that has
rolled out of the United States to increase overall sales around
Black Friday and Cyber Monday," said Doug Porter, Chief Economist,
BMO Capital Markets. "Even with the increased focus on these
particular shopping days, we are calling for a small gain of
approximately 2 per cent in retail sales this holiday season." 
"Canadians are early adopters of digital payment technology, so it's
no surprise that nearly half of Canadians plan to shop online for
Cyber Monday," said Nick Mastromarco, Managing Director, Credit Card
Products, BMO Bank of Montreal. "Retailers and banks alike are now
starting to offer a variety of tools and services to help make the
online shopping experience more secure and convenient for consumers." 
For example, BMO MasterPass(TM) is a free digital wallet that
securely stores BMO MasterCard customers' credit card and shipping
information so they can check out faster when they shop online. 
Overall, the report found that more than one-third (36 per cent) of
holiday purchases will be purchased using a credit card, 31 per cent
using debit cards and 27 per cent will purchase gifts with cash. The
number of Canadians who do some holiday shopping using rewards is up
by 32 per cent in 2013 (22 per cent to 29 per cent); however just
five per cent of all purchases will be paid using rewards. 
Regional Findings 


 
----------------------------------------------------------------------------
Cyber Monday                                                                
 Shopping          Overall Atlantic Quebec Ontario Prairies Alberta    B.C. 
----------------------------------------------------------------------------
% Planning to Shop      49%      45%    31%     61%      41%     54%     49%
----------------------------------------------------------------------------
Expected Average                                                            
 Spend              $  273  $   282  $ 284  $  288  $   219  $  282  $  224 
----------------------------------------------------------------------------

 
The survey results cited in the 2013 BMO Holiday Spending Outlook
conducted by Pollara are compiled from an online sample of 1,215
Canadians 18 years of age and over between October 11 and October 16,
2013. A probability sample of this size would yield results accurate
to +/- 2.8 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 $549 billion as at July 31, 2013, and more than
46,000 employees, BMO Financial Group provides a broad range of
personal and commercial banking, wealth management and investment
banking products and solutions.
Contacts:
Media Contacts:
Russell Baker, Toronto
(416) 867-3996
russell.baker@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
 
 
Press spacebar to pause and continue. Press esc to stop.