With Cyber Monday approaching, more than ¾ of Canadians indicated increased deals and sales are what is most likely to drive them to make online purchases, while just over half (52%) want more diverse payment options at checkout, according to PayBright’s first annual Holiday Trends Report.
The report also found that Millennials and Gen Z shoppers are particularly hungry for diverse payment options, with 63% of 25- to 34-year-olds and 60% of 18- to 24-year-olds indicating it is an important purchase driver. The new report includes the most recent holiday shopping trends data available to provide timely insights.*
PayBright is Canada’s leading provider of installment payment plans. Its first annual Holiday Trends Report is designed for merchants seeking to understand and anticipate Canadian consumer behaviour this holiday season, nine months into the pandemic.
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“PayBright maintains a laser-focus on any emerging consumer trends that better prepare our retail partners to meet the needs of Canadians during a truly unique holiday shopping season,” says Vassil Chalashkanov, Senior Vice President Revenue, PayBright. “We are excited to release this commissioned report with the most recent data available as we head into the height of the retail season, and give merchants actionable insights into Canadian’s shifting shopping habits in 2020 and beyond.”
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