Canadian consumer
According to the latest Moneris Spending Report on Canadian consumer spending, the top spending increases for the first quarter of 2014 included luxury goods, which surged by 9 per cent.
The new statistics, which came from Canada’s largest credit and debit card processor Moneris Solutions Corporation, revealed that Canadian consumers are doing the most shopping in jewellery, cosmetics and sports stores; jewellery retail sales have increased by 5.23 per cent. General spending increased by 0.9 per cent in January, 0.66 per cent in February, and 0.95 per cent in March.
As a result of harsh weather conditions over the past few months, spending on utilities saw the highest year-over-year increase of 19.5 per cent. The second highest increase went toward luxury goods, which saw a year-over-year increase of 9 per cent.
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*all images and data sourced from Moneris Solutions Corporation
