People in Ontario prefer Black Friday over Cyber Monday, a new study shows.
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According to Moneris, Canada’s leading payment service provider, Ontarians clearly prefer one shopping date over the other.
Last year, Ontario experienced an increase of 27% week-over-week spending growth during Black Friday. Cyber Monday saw only a 7% increase.
“Sales are starting earlier and lasting longer, and while consumer spending is spreading out, there are still anchoring moments like Black Friday (Friday, Nov. 29) and Cyber Monday (Monday, Dec. 2),” said Peter Goldsztajn, vice president of corporate data at Moneris.
“However, between the two, there’s a clear winner. Last year, spending on Black Friday was up over 20% week-over-week across Canada. Meanwhile, total spend for Cyber Monday was only up 5% week-over-week.”
Cyber Monday was coined in the early 2000s to promote online shopping.
“Since then, we’ve come a long way in terms of consumer adoption and business tools like Moneris Online to support those preferences. As a result, the day has evolved from its origin, and therefore doesn’t stand out as much, seeing only moderate increases in spending,” Goldsztajn said.
The figures offered were derived from transaction data processed by Moneris.