E-commerce has been growing at a rapid pace in Canada, with more and more consumers opting to shop online. In fact, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers have been forced to stay at home and avoid physical stores. In this post, we’ll explore the latest trends in e-commerce in Canada, and make predictions about the future of this rapidly evolving industry.
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Continued Growth of Online Shopping
Online shopping has been growing steadily in Canada for several years, and this trend is expected to continue. According to a report by eMarketer, e-commerce sales in Canada are expected to reach $64.2 billion by 2023, up from $39.9 billion in 2019. This growth is being driven by several factors, including the increasing number of Canadians who are comfortable shopping online, and the convenience and accessibility of e-commerce.
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Mobile Commerce
Mobile commerce, or m-commerce, is becoming increasingly popular in Canada. According to a report by Statista, mobile e-commerce sales in Canada are expected to reach $19.8 billion by 2025, up from $9.3 billion in 2020. This growth is being driven by the increasing use of smartphones and tablets, as well as the growing number of mobile apps that allow consumers to shop on the go.
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Personalization
Personalization is becoming increasingly important in e-commerce, as consumers expect a more personalized shopping experience. According to a report by Accenture, 91% of consumers are more likely to shop with brands that provide personalized offers and recommendations. This trend is being driven by the increasing use of artificial intelligence and machine learning, which allow retailers to analyze consumer data and provide more personalized recommendations.
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Sustainability
Sustainability is becoming an important factor for many Canadian consumers, and this trend is expected to continue. According to a report by Nielsen, 81% of Canadian consumers are willing to pay more for products that are environmentally friendly. This trend is being driven by the increasing awareness of the impact of consumerism on the environment, and the growing demand for products that are ethically and sustainably produced.
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Social Commerce
Social commerce, or the ability to shop directly through social media platforms, is becoming increasingly popular in Canada. According to a report by eMarketer, social commerce sales in Canada are expected to reach $2.8 billion by 2023, up from $800 million in 2019. This growth is being driven by the increasing use of social media platforms like Instagram and Facebook as a way to discover and purchase products.
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Increased Competition
As e-commerce continues to grow in Canada, the competition among online retailers is expected to increase. This will put pressure on retailers to differentiate themselves by offering unique products, competitive pricing, and exceptional customer service. Retailers that are able to provide a superior shopping experience are likely to emerge as leaders in this increasingly crowded market.
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Greater Use of Augmented Reality
Augmented reality (AR) is becoming an important tool for online retailers, as it allows consumers to visualize products in a more realistic way. According to a report by Gartner, by 2022, 70% of enterprises will be experimenting with immersive technologies like AR and virtual reality (VR). This trend is being driven by the increasing use of smartphones and other devices that are capable of displaying AR content.
Conclusion
E-commerce is rapidly evolving in Canada, driven by technological advancements, changing consumer preferences, and the COVID-19 pandemic. As the industry continues to grow, retailers will need to stay ahead of the latest trends and adopt new technologies
