Card Swap

CardSWAP

Demographics

Baby boomer, Generation X and Millennials being the largest groups of the Canadian population making up 69.2%, have a vast impact on the market today. Baby Boomer are current reaching the peak of their earning and spending years, while Generation X consumers are entering the midlife, they are staying focused on family and life experience and the millennials are the youth that is very technologically driven. Although the values and attitudes diverse across all generations, thus the need to buy, exchange or use a gift cards has different purposes, Cardswap ultimately is open to all demographics and fits all lifestyles, which presents an opportunity to expand customers database and grow in the in business.

Moneraryabilityto spendmoney

Economics environment

Consumers' behaviour is closely linked to economics cycle. Over the past years, the Canadian economy has been effect by the global economic slowdown, resulting in loss of wealth for Canadians and business, which lowered consumer confidence and spending on non-essential items. Economics variable such as income, cost of living, interest rates and saving/borrowing pattern have an influence of customers choices to spend their money in the market place. The average household spending in Canada has decreased by 0.3% percent to $71, 120; yet, 60% of Canadian revel that economy doesn't impact their holiday spending and in fact the holiday spending rose by 4.6% over the last year. RBC survey showed that 31% of Canadians spend more money than they intent, not surprisingly the top gifts Canadians desire to receive are gift card/certificates and money. As Canadians are straggling to repay some of the debts, Cardswap presents a great opportunity to Canadian to convert unwanted giftcards to cash or save money on shopping by purchasing discounted cards.