For retailers, the success of the average consumer is theirs as well. After all, the more stable Canadian families are, the more likely they are to have money that doesn't need to be devoted solely to necessities. Fortunately, after some setbacks, the nation's economy seems to be getting back on track, and this means business leaders should poise themselves for success as well.
By using retail and point of sale technology to easily process transactions from a variety of payment methods, shop owners can make the most of their time in a busy environment. As they need to juggle more kinds of payments in a greater amount, it is crucial that accuracy becomes a focal point, or customers may be disappointed. By bringing in advanced software, managers can focus energy that would have otherwise been spent worrying about basic accounting processes on customer-facing initiatives. In addition, they can rest easily knowing that they're taking the necessary steps toward meeting Canadian retail compliance standards.
Future growing brighter
CBC News reported that recent data from Statistics Canada found that the country added 12,500 jobs in April, bringing the nation closer to regaining all the positions it lost in the early months of the year. The source pointed out that many of the employment opportunities are full-time, with 36,000 of these jobs added. Meanwhile, the number of part-time jobs decreased by 23,000. Additionally, more people - 14,200 - were working at a company in April, rather than being self-employed. The unemployment rate continued to hover at 7.2 percent.
"I am pleased that more Canadians are working, as job growth was positive and on the right track," Finance Minister Jim Flaherty said in a statement.
Another sign that Canadian retailers should be growing more confident comes in the form of investments in shopping space. Colliers International, a global commercial real estate firm, found that the country added 8 million square feet of shopping center space in 2012 alone, and another 10 million are being developed this year. The source explained that part of this boom may be attributable to the economic conditions in the United States - as American retailers' financial situations continue to improve, more are entering the Canadian market.
In order to meet the needs of shoppers in this growing economy, the nation's retailers need the best tools. By upgrading business technologies, including stronger credit card processing software, leaders can be prepared for more transactions.