|By Marketwired .||
|December 26, 2012 06:00 AM EST||
TORONTO, ONTARIO -- (Marketwire) -- 12/26/12 -- 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.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 26, 2016 04:30 PM EDT Reads: 3,326
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
Sep. 26, 2016 04:30 PM EDT Reads: 2,068
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 26, 2016 04:30 PM EDT Reads: 1,614
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Sep. 26, 2016 04:15 PM EDT Reads: 1,016
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Sep. 26, 2016 04:00 PM EDT Reads: 2,509
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor 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. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Sep. 26, 2016 04:00 PM EDT Reads: 2,816
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Sep. 26, 2016 03:45 PM EDT Reads: 2,897
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 26, 2016 03:30 PM EDT Reads: 1,554
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Sep. 26, 2016 03:00 PM EDT Reads: 1,549
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 26, 2016 02:45 PM EDT Reads: 2,603
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Sep. 26, 2016 02:30 PM EDT Reads: 2,543
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 26, 2016 02:15 PM EDT Reads: 2,097
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Sep. 26, 2016 02:00 PM EDT Reads: 1,716
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Sep. 26, 2016 01:45 PM EDT Reads: 2,570
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 26, 2016 01:30 PM EDT Reads: 1,168