Over 10 Years in Business Since 2001, Collective Point of Sale Solutions has been Canada’s Choice for payment processing services and secure point of sale solutions. We have served more than 11,000 businesses across Canada and processed more than $1 billion in debit and credit card transactions.
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Many Canadians renovating their homes
June 29, 2012 - 1:19pm
As the health of the Canadian housing market slowly improves, many residents are beginning to start new renovation projects they have been putting off. In 2011, 1.7 million households invested in such projects, according to Canada Mortgage and Home Corporation (CMHC).
Whether hiring contractors to carry out these projects or undertaking them themselves, Canadian homeowners are spending more on remodeling supplies and equipment. The average cost of the renovations in 2011 was $13,709, almost $1,000 more than in 2010.
Wood, tools, tiles and new appliances are common components in renovation projects, and Canadians are proving increasingly ready to buy them. For purveyors of such goods, the importance of having secure and convenient payment processing systems is paramount. For such large purchases, many home remodelers choose to use credit cards. This allows them to pay for the goods over a longer period of time as well as earn rewards on their purchases.
Whether you're a hardware store, material supplier or a contractor, being able to offer as many ways for your customers to pay for their purchases will likely increase your profits and revenue.
Remodeling is big business in Canada, and merchants need up-to-date pos systems to engage in this industry, which looks even rosier going forward.
"When Canadian homeowners were asked about their renovation plans for this year, 38 percent indicated that they intend to spend $1,000 or more by the end of 2012," Mathieu Laberge, Deputy Chief Economist at CMHC, told the Woodworking Network.
This money will be used to finance a wide range of remodeling projects from new bathrooms and kitchens to improved energy efficiency. If your business sells goods used in any of these fields, getting a current and reliable merchant account could help attract and retain customers.