According to the Retail Council of Canada, Canadian sales have increased by 5.6 per cent in the first two weeks of December compared to the same numbers last year.
In terms of cross-border shopping this holiday season, sales decreased says the Retail Council of Canada.
“The exchange rate put a dent in cross-border shopping,” says Michael Leblanc, a spokesman for the council. “The lower price of gas put more disposable income on the table, so that probably meant a few more presents under the tree.”
In the weeks leading up to Christmas, the loonie was worth less than 90 cents U.S. and it’s now staying around 86 cents. When it came to oil prices, they decreased over 40 per cent since the summer to the lowest prices in four and a half years.
According to Canada’s largest processor and acquirer of debit and credit card payments Moneris, sales increased overall for this year. During this year’s last Saturday before Christmas, the amount spent per transaction was up by about 10 per cent and total dollar number were up by about four to five per cent. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
