Canadian Retailers and Ecommerce – The Future….
We have been advising our retail clients that the future is digital eCommerce. This innovative marketplace is expanding in Canada and becoming more common place for consumers to not only research there future purchases online but also buy online. A recent Retail Insider online article highlighting the Canadian retail outlook discussed the future of E-Tailing (Electronic Retailing) in Canada (2015 Canadian Retail Outlook, by J.C. Williams Group). The article highlighted their prediction for E-Tailing in Canada:
“E-tail (with 82% of Canadians researching products online and 71% making a recent purchase – source: J.C. Williams Group Canadian E-tail Report) is now a formidable and growing force. Commodities like electronics and entertainment have penetration of over 30%—and even apparel has 18% of expenditures spent online. Any retailer not moving to cross-channel or omni-channel retail will be left behind.”
Rereading the final sentence of this quote we think its important to highlight, “Any retailer not moving to cross-channel or omni-channel retail will be left behind”. Don’t get left behind on this incredible opportunity.
C360
Sources:
- eMarketer: Retail Ecommerce Sales in Canada to Near C$30 Billion
- Retail Insider: 2015 Canadian Retail Outlook, by J.C. Williams Group
Canadians research online… but are they buying online
I spent a lot of time last year researching Canadian based business and their adoption of eCommerce or online selling. The Boston Consulting Group did a study of the of G-20 countries that indicated that Canada is behind in the adoption of technology by business and in the size of our internet economy. This was echoed by the Canadian Chamber of Commerce in a policy resolution (Read more: The Digital Economy Strategy: Ensuring Canada’s Economic Success using Information and Communications Technologies). More recently I was reviewing a video from the BDC (Business Development Bank of Canada) that indicates that 84% of Canadian consumers are online and connected to the internet but only 17% of businesses in Canada actually sell online and that 20% of companies with 10 or more employees don’t even have a website. I’ll let that sink in. You can view the video on the BDC website, view video: CAPITALIZING ON THE INTERNET REVOLUTION. But now with this eMarketer article (Consumers in Canada Research Online, but Don’t Buy, After Seeing TV Ads) it confirms that Canadians are researching products online but suggests that they are not converting online, actually buying. It no doubt confirms that the audience is much more informed before they ever enter your business or retail location. But how can we close the gap and make more Canadian consumers buy online and more Canadian based business sell online. I’m working on it! ;o)
C360
