Understanding Payment Processing: A Guide
Discover what payment processing is with Moneris. Learn how it empowers businesses and enhances customer transactions. Read more for insights.
The pandemic affected people across the world in more ways than they know. They’ve had the time to reassess their values, be more mindful of their surroundings, and think about the environment at large. Post-pandemic, we have seen a major shift in consumer buying behaviour with respect to the products they purchase, the ways they are choosing to buy them and the brands they shop from.
Sustainability has become more than just a topic of conversation for school projects, college assignments and office-led initiatives. People are eager to bring this into practice and be catalysts for change.
No doubt they expect their favourite brands to also hop on the bandwagon. They don’t want brands to only talk about going green but make efforts to be sustainable.
According to the American Express Trendex survey, 78% of consumers want companies to educate them on ways to reduce their carbon footprint when shopping. About 50% of Canadians said that they are more likely to purchase sustainable products because they want to have a positive impact on the earth, rather than for personal health or well-being reasons.
Despite the inflation, budget constraints and ongoing economic uncertainties, shoppers wish to make environmentally conscious and sustainable purchases this holiday season.
As per Deloitte Canada’s 2022 Holiday Retail Outlook report, 43% of consumers said that they’ll choose sustainable products whenever possible and that a product’s country of origin is an important factor in deciding what gifts to buy this holiday season. 44% of consumers said that they’re willing to spend up to 10% more to buy products that are sustainable and produced by factories that offer employee well-being initiatives. And it's not just about the contents of the products. Consumers are also concerned about sustainable and environment-friendly packaging. 51% of consumers said that they are mindful of the amount of packaging used for online purchases they make.
Offering exciting deals and promotions alone won’t make the cut. Retailers must commit financially to drive their sustainability plans. From reducing waste generated during production and sampling to eliminating overproduction and using sustainable packaging methods, brands must adopt best practices to become more environmentally conscious.
Whether you’re a big corporation or a small business, doing your bit toward sustainability is not just good for the environment but also for your business.
Social and Community Engagement Specialist
Niyati Budhiraja is a word nerd who turns tricky business talk into fun, simple and genuinely helpful content. She writes features on inspiring Canadian businesses, crafts easy-to-follow guides and shares smart tips to help small businesses feel confident and supported. When she’s not writing or dreaming up her next blog idea, you’ll likely find her hunting down the city’s best hot chocolate.
Discover what payment processing is with Moneris. Learn how it empowers businesses and enhances customer transactions. Read more for insights.
This year’s data from Moneris shows how Canadians shopped smarter, seized the moment, and made their holiday dollars count during Black Friday and Cyber Monday
Moneris data reveals that the big concert in Toronto didn’t just captivate audiences—they were a game-changer for the city.
As part of our latest partnership with the Retail Council of Canada (RCC) we are pleased to present this excerpt of their latest retail sentiment report