Visa Canada releases holiday spending snapshot
It’s a big time of year for consumers and spending is up – but that’s a trend Visa Canada says is reflective of a year in credit use.Visa Canada released its annual retail spending monitor, which provides Canadians a snapshot at Canada’s holiday retail analytics. Early data show holiday spending increased 4.4 per cent year-over-year across all payment types, including cash or cheque. In-store still accounts for most payment volume according to the data. Physical stores accepted for 88 per cent of payments versus 12 per cent for online purchases but online spending increased seven per cent year-over-year driven by promotions and convenience.