The ecommerce market of Canada displayed a thriving ecommerce industry along with a refined economy. The Canadian ecommerce industry is expected to grow to a staggering $40 billion by 2018.
The total population of Canada is 53.1 million and 41% of the population lies between the ages 25 and 54. 27% of the population uses smartphones and out of it over 17% Canadians use the internet to shop and online purchasing using their mobile devices more than once each week.
This means that 5.2 million use their smartphones to shop over the internet.
Some of the features of Canadian ecommerce industry are:
- 93% of shoppers use credit cards as the top digital payment method.
- Canada is expected to have about 20 million buyers by the year 2018.
As Canada as two official languages English and French, it tends to act as a hindrance for retailers. Both English and French is spoken by 56.9% and 21.3% of the population respectively. Canada has more than 200 languages within but English happens to be the most popular online language having 26.8% share.
Over 50% of the Canadian population buys things online but the market tends to be relatively small. But consumers in Canada exhibit some impressive habits and buying behavior towards cross-border activity. The main reason for doing so is that prices are lower and overseas websites provide a wide variety of products. Canadians are able to buy from US Amazon website sometimes with price tags of 50% lower or more! Even with the added taxes and duty, the price is favorable and quite affordable.
A substantial proportion of ecommerce spending in Canada goes to the non-Canadian websites. That amounts to 45% while one-third of the total is spent in the United States and rest in Asia and Europe.
Domestic E-Commerce B2C:
The Canadian ecommerce is not only growing in terms of purchase volume but also in the variety of goods and services that are being bought by Canadians. There is media merchandise, books, apps, music along with show tickets that top the list of foods the Canadian population is buying these days. These purchases are followed by apparel, footwear, electronics, household goods and flights and travel packages.
Amazon, Walmart.ca, Apple, Amazon.ca, Dell, Staples, Costco, Best Buy and Future shop are amongst the major online retailers.
Business to Business E-Commerce B2B:
All most all of Canadian small business owners report of shopping online. A vast number of business owners choose to purchase their travel packages and tickets online and are more likely to access office supplies and government services online too.
Shopify – Effective E-commerce Solution:
Shopify happens to be an amazing platform for building and boosting online retail business. It offers just the right features and benefits that are used by over 300,000 stores worldwide. Shopify provides its users with all the specific tools designed for offline retail.
Shopify has been named as one of the best ecommerce solutions available in the market right now by business owners and experts. It currently ranks #01 in shopping cart software category. Recently Shopify has closed a deal with the Export Development Canada to assist ensure merchants with cash advances offered by Shopify Capital.