Interac predicts December 23 to be the busiest shopping day of the year

Canadian consumers are expected to spend $1 billion CAD on December 23rd this year.

Data released from Interac predicts that, with everyone running out for last minute gifts and perfecting their Christmas recipes, December 23rd will be the busiest shopping day of the year.

On December 23rd , 2015, Interac’s point of sales data claims that Canadians made over 21 million transactions and spent approximately $1 billion. These numbers beat out both December 24th and Black Friday both for the total amount spent by Canadians and the number of transactions.

Interac® predicts holiday shopping to peak on December 23 – the busiest shopping day of the year (CNW Group/Interac Association)

Interac goes into detail in its report about what Canadians spent their money on last year. Of all the purchases made on December 23rd, grocery stores were the most frequented, with more than $217 million being spent in grocery retailers that day. Discount retailers came in second place at $88 million, and alcohol vendors came in third at just over $74 million.

“Our recent data shows Canadians are embracing the speed and convenience of Interac Flash. For the month of November 2016, Interac Flash volumes have nearly doubled compared to the same period in 2015,” Martin Ho, AVP of Product Management, Interac Association and Acxsys Corporation, said in a statement.

“With the holidays nearly upon us, Canadians can rely on Interac Flash to speed through the busy checkout lines with ease.”

Interac’s online survey was conducted during the period of November 29 to 30, among 1,508 Canadian adults. The margin of error is +/- 2.5%, 19 times out of 20.