|By Marketwired .||
|December 22, 2012 08:00 AM EST||
TORONTO, ONTARIO -- (Marketwire) -- 12/22/12 -- Canada's biggest shopping day is circled on the calendars of many Canadians, with the majority of Canadians (62 per cent) planning to shop on Boxing Day this year, according to a BMO poll released today.
According to the BMO poll, conducted by Pollara:
-- One-in-five (22 per cent) plan to shop for themselves, while another third (34 per cent) will spend on items for both themselves and others -- Alberta, Atlantic Canada and Ontario will see the most spending activity on Boxing Day (76 per cent, 72 per cent and 69 per cent respectively) while Quebec will see the least (36 per cent) -- Men are more likely than woman to take advantage of Boxing Day sales (66 per cent versus 58 per cent respectively)
Overall, Canadians plan to spend an average of $1,610 on the holidays this year.
Su McVey, Vice President, BMO Bank of Montreal, noted that while Boxing Day is a great opportunity to take advantage of deeply discounted items, not accounting for spending during this period can cause some to spend outside of their means and keep them from staying within their holiday budgeting parameters.
"Boxing Day is treated by many as a shopping holiday in Canada, and is as big as Black Friday in the U.S.," said Ms. McVey. "Given that the majority of Canadians plan to spend during this period, it's essential that Boxing Day spending is accounted for in the overall household holiday spending budget and not treated as a financial after-thought."
Ms. McVey added that three-in-ten (29 per cent) Canadians set a fixed budget for their holiday spending, while half (47 per cent) set a loose or flexible budget, and two-in-ten (21 per cent) do not set a budget for holiday shopping.
Boxing Day is an important period for Canadian retailers, as it represents one of the biggest sales days on the calendar year. BMO Economics projects Canadian holiday retail sales receipts, excluding auto and gasoline sales, will be almost $60 billion. This represents an increase of between one and two per cent year-over-year - or a rise of between $600 million and $1.2 billion - during the November to December sales period.
"While the projections for year-over-year increases in holiday sales are modest, it should still be viewed as positive for retailers in Canada, and is certainly well above levels seen during the recent economic downturn of 2008," said Doug Porter, Deputy Chief Economist, BMO Capital Markets.
To make the most of your Boxing Day spending dollars, BMO offers Canadians the following tips:
Have a game plan: Before venturing out into the crowds on Boxing Day, create a list of must-haves items and set spending limits to ensure you don't get swept away in a post-holiday shopping frenzy.
Get a head start: Many retailers will begin the Boxing Day sales period before December 26th. Keep an eye on your favourite retailers' websites and in-store ads to ensure you don't miss out on early discounts and promotions.
Stay outside the fray by looking online: Many online retailers offer discounts and free shipping during the Boxing Day period. However, as with in-store promotions, inventories can dwindle quickly. Ensure you've created online accounts or profiles with your favourite retailers and watch the web to avoid missing out.
Maximize your spending: Utilize rewards programs to get the most out of your Boxing Day purchases. Use a debit or credit card affiliated with a loyalty program to earn rewards for purchases at retailers. The BMO AIR MILES bank account or BMO AIR MILES World credit card allows you to accelerate rewards earnings and significantly enhance the value of every dollar spent by allowing you to "double dip" - essentially earning rewards twice on the same purchase when you use your Collector Card along with one of these forms of payment at AIR MILES Sponsor locations.
The survey results cited in the 2012 BMO Holiday Spending Outlook conducted by Pollara are compiled from a random sample of 1,000 Canadians 18 years of age and over between October 11 and October 16, 2012. A probability sample of this size would yield results accurate to +/- 3.1 per cent, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 23, 2016 12:00 PM EDT Reads: 8,329
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 23, 2016 11:30 AM EDT Reads: 11,313
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
Oct. 23, 2016 11:15 AM EDT Reads: 1,174
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 23, 2016 11:00 AM EDT Reads: 925
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 23, 2016 10:30 AM EDT Reads: 1,447
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Oct. 23, 2016 10:00 AM EDT Reads: 3,998
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 23, 2016 09:45 AM EDT Reads: 1,013
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Oct. 23, 2016 09:45 AM EDT Reads: 1,872
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 23, 2016 09:45 AM EDT Reads: 784
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 23, 2016 09:45 AM EDT Reads: 2,491
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 23, 2016 09:30 AM EDT Reads: 3,813
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Oct. 23, 2016 09:30 AM EDT Reads: 2,119
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 23, 2016 09:15 AM EDT Reads: 2,062
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 23, 2016 09:00 AM EDT Reads: 4,454
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Oct. 23, 2016 08:30 AM EDT Reads: 1,338