PayPal survey shows 24 per cent growth in year over year awareness
TORONTO, ON (November 17, 2011) – Last year’s emerging trend is this year’s new holiday shopping phenomenon. While Americans have been reaping the benefits of Cyber Monday deals since 2005, it has now reached a tipping point in Canadian consumer awareness after inching north of the border in 2010. According to a new survey conducted by Ipsos Reid on behalf of PayPal Canada, 52 per cent of Canadians are aware of Cyber Monday -- up 24 per cent from 2010.
PayPal data shows that this growing awareness is translating into changing shopping habits, as more Canadians than ever are choosing to escape the mall and shop online to save time and money. In 2010, there was a 37 per cent increase in the number of Cyber Monday online shopping purchases made by PayPal Canada customers compared to 2009.
“In 2010 Canadians made more than 8,600 purchases an hour with PayPal on Cyber Monday,” said Nicky Mezo, head of marketing, PayPal Canada. “Savvy Canadian shoppers know you no longer have to drive across the border and survive the mayhem of Black Friday to get the best deals on gifts this holiday season. Canadians are choosing to escape the mall and shop online from retailers here in Canada and in the United States to save time and money this holiday season.”
With a steady increase in Cyber Monday transactions, Canadian retailers are adjusting e-commerce strategies to capture a bigger portion of the consumer holiday spending dollar. Canadian retailers like Toys“R”Us Canada, Sport Chek, and The Home Depot Canada are planning special promotions to attract Canadian Cyber Monday shoppers.
American retailers are also taking notice of what’s happening in Canada. FiftyOne Global Ecommerce (“FiftyOne”), a technology and services company that enables leading US retailers to market, sell and fulfill merchandise internationally, tracks global changes in shopping habits around the holidays.
In 2010, FiftyOne found a 115 per cent average daily lift in Canadian sales during the four-day Black Friday/Cyber Monday holiday. The average order value over the weekend was US $186. These results are leading several US retailers to create offers specifically for Canadian online shoppers.
To help Canadians shop online on Cyber Monday and throughout the holiday season, PayPal Canada has launched the Escape the Mall microsite at www.paypal.ca/escapethemall. The site helps Canadian shoppers quickly and easily find holiday gifts and deals at Toys“R”Us Canada, eBay.ca, Sport Chek, The Home Depot, Overstock.com, Dell and Macy’s, and the hundreds of thousands of other Canadian online retailers which accept PayPal. And in the spirit of holiday giving, Canadians can learn how they can donate to Canadian charities using PayPal.
These are some of the findings of an Ipsos Reid poll conducted between October 3 to 10, 2011, on behalf of PayPal Canada. For this survey, a sample of 998 adults from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and political composition to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points, 19 times out of 20, of what the results would have been had the entire population of adults in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts or credit cards. With more than 103 million active accounts in 190 markets and 25 currencies around the globe, PayPal enables global ecommerce. PayPal is an eBay company. The company's open payment platform, x.commerce , allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at http://www.PayPal.ca