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Canadian merchants score during first round of NHL playoffs

May 16, 2013

Moneris Spending Report: overall increase in restaurant sector spending
in Toronto, Ottawa, Vancouver and Montréal; significant spending
variations across cities

TORONTO, May 16, 2013 /CNW/ – Merchants in four Canadian cities were the
big winners during the recent NHL playoffs. Data released by Moneris
Solutions Corporation (“Moneris”), Canada’s largest credit and debit
card processor, showed that businesses in Toronto, Ottawa, Vancouver
and Montréal, whose teams contended for the Stanley Cup, saw overall
spending increases during the first four games of the NHL playoffs,
compared to regular season games the previous week. Interestingly
enough, each of these cities experienced the hockey playoff spending
effects differently.

Toronto’s restaurant sector saw highest overall spending growth during
playoffs

During home playoff games, restaurant sector merchants (including
fast-food businesses, restaurants and drinking establishments) near
Toronto’s Air Canada Centre (ACC) saw the highest overall increase in
spending among the four cities analyzed of 31.10 per cent, compared to
regular season games played the previous week. This increase was
largely driven by a 38.30 spending jump at eating establishments in the
downtown core.

Remarkably, for both home and away playoff games, spending at drinking
establishments near Toronto’s ACC decreased by -10.90 per cent and
-13.80, respectively, compared to regular season games the previous
week. The opposite was true for drinking establishments away from the
arena. During home games, merchants saw an increase in dollars spent of
14.10 per cent and, for away games, spending rose by 44.40 per cent,
compared to regular season games the previous week.

Playoff home games played out well for Ottawa’s restaurant sector
During home playoff games, overall restaurant sector spending increased
by 12.60 per cent near Ottawa’s downtown core, compared to regular
season games the previous week. Spending at drinking establishments led
the growth, with a 55.10 per cent increase in dollars spent.

During away playoff games, Ottawa saw its overall restaurant sector
spending drop by -8.20 per cent downtown, compared to regular season
games the previous week. Drinking establishments in Ottawa’s downtown
core, however, were not affected by this decrease and saw their
spending grow by 31.30 per cent.

Vancouver’s restaurant sector boosted by away playoff games
During away playoff games, restaurant sector merchants near Vancouver’s
Rogers Arena saw the highest increase in dollars spent, at 23.40 per
cent, compared to regular games the previous week. Away from the arena,
Vancouver also experienced a 5.60 per cent spending spike in this
sector, compared to regular away games the previous week.

However, during home playoff games, restaurant sector merchants near the
arena saw their spending drop by -10.30 per cent, as compared to
regular season games the previous week. Likewise for merchants outside
of the Rogers Arena’s vicinity, who saw a spending drop of -8.50 per
cent.

Montréal and Vancouver saw similar spending trends
During away playoff games, Montréal’s merchants in the restaurant sector
near the Bell Centre saw their spending go up by 16.30 per cent,
compared to regular games the previous week. But it was merchants
outside the arena vicinity who benefited most from away games in this
city, with a 19.90 per cent spending increase.

Similar to Vancouver, during home playoff games, Montréal’s restaurant
sector merchants near the Bell Centre saw their spending drop by -8.20
per cent, compared to regular games the previous week, as did those
outside the arena’s vicinity, with a spending drop of -7.20 per cent.

“It’s interesting to see the variations in the behaviours of Canadian
hockey fans across the country,” said Malcolm Fowler, Vice President of
Marketing, Moneris Solutions Corporation. “While some fans chose to
stay close to the hockey arena during home games, others preferred to
stay closer to home. Either way, merchants across Canada – particularly
in Toronto – benefitted from the playoffs. Despite the elimination of
Toronto, Montréal and Vancouver, we will continue to monitor the
spending trends in Ottawa as the Senators play out the second round.”

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
merchants.

About Moneris Solutions
As one of North America’s largest providers of payment processing
solutions, Moneris Solutions Corporation (“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


Source: PR Newswire