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
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