The Payment Source Blog

Ecommerce sales — online shopping, esports, online gaming and other internet activities — continue to experience accelerated growth in Canada. Stores can reap the benefits of this trend by offering their customers products and services to help them easily make these types of purchases.

In today's e-commerce based economy, gift cards continue to be both a popular form of currency and a preferred choice for gifting/receiving amongst Canadians. Gift cards offer the flexibility of both in store and online use which is appealing to consumers (see source). When it comes to where to purchase a gift card, 74% of consumers say they regularly buy gift cards from small businesses (see source). They are also considered popular impulse buys (see source) which is why we recommend you position your gift card fixture close to your checkout lane. This time of year shoppers, while  stopping in to their local convenience store for groceries or a gas fill up, suddenly remember that Mothers Day, Fathers Day or someone’s Graduation is just around the corner and they need a gift for that special someone.

As the snow begins to melt and the weather gets warmer, small business owners across Canada are reminded of tax season. A season dreaded not only because it means having to make a payment, but also the stress behind filing them correctly, collecting receipts and meeting deadlines. It can be overwhelming! Here are some tips to help you navigate it:

There has been a shift in the way consumers like to shop. More people than ever before are shopping online and projections show that e-commerce will continue to grow (see source). This shift towards e-commerce was highly accelerated by COVID-19 as lockdowns were put in place and many people chose the safety and convenience of online shopping (see source). This forced many businesses to adapt and take part in the digital space in order to meet their consumers' needs. 

Throughout the years, consumer shopping habits and forms of payments have taken a digital shift. In 2020, close to half of Canadians reported using e-commerce platforms for online purchases, accounting for 477 million transactions (see source). This shift to e-commerce has forced the growth in digital payments; but, traditional digital payments are not inclusive for all Canadians.