We’re going to be honest with you here. Canada kind of has a bad rap when it comes to the world of e-commerce. You see, the world is shopping online, but Canadian retailers have been notoriously slow to turn their company websites into online stores. Even with so many Canadian shoppers taking to the internet to do their shopping, Canadian merchants have been known to be hesitant to take advantage of the online shopping craze.
At least, this is what analyst, Paul Briggs has communicated on eMarketer.com. The author of a new report that examines Canada’s e-commerce prospects, Briggs says that “Canada has lagged behind the US and UK in ecommerce.” However, he continues with some good news. It appears as if the Great White North is finally playing some catch-up “as double-digit annual gains drive what growth there is in Canada’s retail sector.”
The latest forecast from eMarketer is that e-commerce will account for 10% of total retail sales in Canada by the year 2020. The trend towards online shopping growth can be attributed, in part, to the fact that both Canadian consumers and retailers are embracing some of the industry’s most innovative trends – ones that haven’t fully caught on in other markets where e-commerce is more advanced.
“For instance, omnichannel strategies like click and collect, in which companies like Toronto-based grocer Loblaw lets shoppers order online, then pick up groceries later,” explains eMarketer, “This service sidesteps delivery expenses, substantial in Canada, in which 85% of distribution costs are in the last mile of delivery.”
As well, shopping using mobile devices is a growing trend in our nation. As expected, it intensifies greatly during the holiday season. So much so, it is predicted that a quarter of all retail e-commerce will take place on mobile devices this year.
The eMarketer website goes on to note that many omnichannel consumers in Canada have traditionally found themselves shopping at American online stores. They attribute this trend to the fact that Canadian retailers were thought to have poor online selections. Briggs notes that this is now changing thanks to the growing strength of the loonie (Canadian dollar) compared to the greenback (American dollar).
However, Canadian retailers are showing vast improvements in the quality of their offerings as well. For this reason, Canadian shoppers are spending their money north of the border a lot more often during their online shopping excursions. This should come as excellent news to domestic retailers considering how popular online shopping is with our nation’s citizens.
Just how much do Canadians love to shop online? Warc.com reports that “the E-Commerce Shopper Study from research company BrandSpark (has) reported that 90% of Canadians shop online, with most doing so several times per month and 85% looking for consumer reviews to help make their purchase decision.”
At Canadian POS Corporation, we’re not all that surprised that e-commerce has picked up in Canada, as of late. We’ve long believed that online shopping is a trend that will only keep growing. And, as a result, Canadian retailers need to secure effective e-commerce solutions for their companies. We’re more than happy to offer them an excellent way to accept Visa, MasterCard, Discover and American Express credit cards directly from their sites!
Are you ready to take advantage of Canada’s growing e-commerce trends? For more information about our e-commerce solutions, please don’t hesitate to call Canadian POS Corporation at 1-877-748-2884 or email us at email@example.com.