The Flourishing Future of Ecommerce in Canada
Future of ecommerce in Canada The ecommerce sector continues to gain momentum in Canada, giving the future of ecommerce in the region a positive signal for growth. According to Infiniti’s industry experts, approximately eight in ten Canadians shop online, and they are gradually buying more often, more items, and across product categories. For companies who [...]READ MORE >>
Future of ecommerce in Canada
The ecommerce sector continues to gain momentum in Canada, giving the future of ecommerce in the region a positive signal for growth. According to Infiniti’s industry experts, approximately eight in ten Canadians shop online, and they are gradually buying more often, more items, and across product categories. For companies who want to venture into ecommerce business in Canada, now’s the time! While several Canadians prefer to shop from Canadian online retailers, the availability of varieties on cross-border websites are attracting many shoppers towards US and European ecommerce players as well. Though the future of ecommerce in Canada looks bright, the fact remains that not all Canadian provinces are experiencing the same ecommerce growth. Regions such as Ontario, British Columbia, and Quebec recorded the highest ecommerce growth compared to other provinces in Canada. The future of ecommerce in Canada will largely rely on enhanced buying experiences that are rooted in personalization, convenience, and a consistent, timely buying experience across all channels.
Here are a few important facts about the Canadian ecommerce business that companies who want to establish themselves in the future of ecommerce in Canada must know:
Falling shipping time and prices
One of the key factors that have fueled the increased spending on online shopping by Canadian customers is the decreasing shipping costs in the country. As several major online retailers are now offering free or affordable shipping on a large variety of products, Canadian shoppers are now able to purchase online more frequently and without having to shell out excess money. However, the charges for coast to coast shipping may still remain high.
Developing omnichannel capabilities
As majority of the Canadian population are located in urban areas and the prices of coast to coast shipping are rising, we can expect to see more omni-channel initiatives in the future of retail in Canada. New ecommerce trends such as ship to store and store pickup have worked well with Canadian shoppers and has helped to change their mindset to become more accustomed to shop online without immediately losing the brick and mortar store experience.
Weak Canada dollar and cross border purchases
Ecommerce companies in Canada are adding products outside their traditional product scope into their offerings. One of the prime reasons behind this is the weakening Canadian dollar against other currencies. This has resulted in fewer cross-border orders because it will cost more with the current unfavorable currency exchange rates for Canadian customers. Moreover, the shipping costs of importing from another country would also prove to be higher.