Excitement is already brewing ahead of the FIFA World Cup soccer among fans and businesses alike. To understand the impact the World Cup might have on local businesses, Moneris, Canada’s leading commerce provider, looked at another large-scale global event that touched down in Toronto and Vancouver: Taylor Swift’s Eras Tour.
The Eras Tour helped reveal that longer events, like the World Cup, create more opportunities to capture spending. Moneris said it’s important for merchants to be staffed, stocked and ready not just for game days, but throughout the weeks the tournament is played here:
- In Toronto, over the 10-day span of Taylor Swift’s six concerts, Moneris transaction data showed that spending downtown rose 45% week-over-week;
- Over the three days Taylor Swift played in Vancouver, total spending across the downtown core rose 154% week-over-week.
Businesses in Toronto and Vancouver should be prepared for international fans to contribute to spending: International visitors were also a major contributor to the overall spending increase during Taylor Swift’s Eras Tour, with foreign spending increasing 48% in Toronto and 97% in Vancouver week-over-week, said Moneris.
“To understand what the FIFA World Cup could mean for businesses in Toronto and Vancouver, it helps to look at a recent global event with similar demand. During Taylor Swift’s Eras Tour, the impact extended beyond the venue, across the downtown core, over multiple days and across a wide range of categories. For businesses, the opportunity begins before kickoff and can continue well after the final whistle,” said Sean McCormick, Vice President of Business Development, Data Services.
“International visitors can drive meaningful spending. During the Eras Tour, foreign spending rose sharply in both Toronto and Vancouver, especially in hotels, restaurants and apparel. With the World Cup expected to attract fans from around the world, businesses that are ready to serve international customers will be better positioned to capture that demand.”
“Convenience matters. During Taylor Swift’s Eras Tour, we saw especially strong spending growth at fast food restaurants and bakeries in both Toronto and Vancouver. Fans are likely to look for quick, affordable options they can grab on the go, and businesses that are ready to meet that demand will be best positioned to benefit.”
Data Tables:
Spend volume in downtown Toronto for Taylor Swift’s concerts.
| Week-over-week | ||
| Category | Total spend | International spend |
| Hotels | +16% | +45% |
| Clothing stores | +49% | +81% |
| Accessory/specialty | +102% | +145% |
| Movie theatres | +30% | +67% |
| Theatrical productions | +130% | +58% |
| Restaurants | +12% | +57% |
| Fast food | +11% | +28% |
| Bakeries | +54% | +26% |
| All Categories | +45% | +48% |
About the data: Figures are based on week-over-week spending volume in downtown Toronto. Week-over-week compares to the same day the week prior. Moneris spending reports measure spending in Canada across a range of categories by analyzing credit and debit card transaction data. The figures cited are derived from aggregated transaction data being processed by Moneris in the applicable categories.
Rank of spend by country in downtown Toronto for Taylor Swift’s concerts.
| Rank | Country | Percent of total volume |
| 1 | United States | 83% |
| 2 | China | 3% |
| 3 | United Kingdom | 1% |
| 4 | Mexico | 1% |
| 5 | Hong Kong | 1% |
About the data: Ranking is based on share of international spend volume in downtown Toronto. Moneris spending reports measure spending in Canada across a range of categories by analyzing credit and debit card transaction data. The figures cited are derived from aggregated transaction data being processed by Moneris in the applicable categories.
Spend volume in downtown Vancouver for Taylor Swift’s concerts.
| Week-over-week | ||
| Category | Total spend | Foreign spend |
| Hotels | +109% | +145% |
| Clothing stores | +923% | +254% |
| Cosmetic Stores | +529% | +80% |
| Variety Stores | +178% | +92% |
| Restaurants | +135% | +106% |
| Fast food | +151% | +99% |
| Bakeries | +102% | +69% |
| All Categories | +154% | +97% |
About the data: Figures are based on week-over-week spending volume in downtown Vancouver. Week-over-week compares to the same day the week prior. Moneris spending reports measure spending in Canada across a range of categories by analyzing credit and debit card transaction data. The figures cited are derived from aggregated transaction data being processed by Moneris in the applicable categories.
Rank of spend by country in downtown Vancouver for Taylor Swift’s concerts.
| Rank | Country | Percent of total volume |
| 1 | United States | 83% |
| 2 | Ireland | 4% |
| 3 | China | 2% |
| 4 | United Kingdom | 1% |
| 5 | Australia | 1% |
About the data: Ranking is based on share of foreign spend volume in downtown Vancouver. Moneris spending reports measure spending in Canada across a range of categories by analyzing credit and debit card transaction data. The figures cited are derived from aggregated transaction data being processed by Moneris in the applicable categories.
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