Twice as many Canadians are aware of Cyber Monday than last year

It’s been a tradition in America since 2005, but was a brand new concept to Canada last year. This year, it has reached a tipping point. According to a new survey conducted by Ipsos Reid on behalf of PayPal Canada, 52% of Canadians are aware of Cyber Monday now—up dramatically from from 24% in 2010.

More Canadians than ever are choosing to escape the mall and shop online to save time and money. In 2010, there was a 37% increase in the number of Cyber Monday online shopping purchases made by PayPal Canada customers compared to 2009.

“In 2010, Canadians made more than 8,600 purchases an hour with PayPal on Cyber Monday,” said Nicky Mezo, head of marketing, PayPal Canada. “Savvy Canadian shoppers know you no longer have to drive across the border and survive the mayhem of Black Friday to get the best deals on gifts this holiday season. Canadians are choosing to escape the mall and shop online from retailers here in Canada and in the United States to save time and money this holiday season.”

35% of 18 to 34 year olds plan on doinsome or all of their shopping online. On average, women anticipate spending more time on their holiday shopping (8.8 hours) than men (7.1 hours). Atlantic Canadians are the most likely to shop online (36%), while Quebecers (24%) are the least likely.

 The averagCanadiafeelthat they can cut their holiday shopping timihalf, from 8 hours to 4.3 hours, by doing it onlininstead. Interestingly, Canadians feel that their time is worth an average of $32.10 an hour, a full $9 more than the average Canadian hourly wage (Stats Canada)Men believe their time is worth $34.40 per hour while women value their time at $29.90 per hour. Respondents in British Columbia assigned the highest hourly rate to their time at $35.30 while respondents in the Atlantic Provinces assigned the lowest hourly rate to their time at $26.80.