All Aboard the eCommerce Train: Facts About Online Sales in Canada
E-Commerce helps Canadian SMEs connect with domestic and global markets.
Did you know that Canadian eCommerce sales have boomed in the last three years?
In 2017, Statistics Canada reported that only half of Canadian businesses had a website, and only a few of those businesses could handle online transactions. Fast forward three years later, and those numbers have changed dramatically, mainly due to the COVID-19 pandemic.
A 2020 PayPal Canada study shows that two out of three small businesses (67%) now accept payments online, while one-third of those (34%) have turned to digital payment platforms since COVID-19.
Research conducted by the Business Development Bank of Canada (BDC) indicates that 46% of SMEs (small-to-medium enterprises) plan to continue selling online after the pandemic. Comparatively, businesses that conduct 50% of their sales online outperformed others during lockdown periods. Out of those companies, 39% maintained or increased their revenues compared to the less online engaged businesses (16%).
Why Your Business Needs to Be on Board
In 2019, the BDC showed that 61 percent (or 28.1 million) of Canadians ordered close to $1.85 billion in goods and services via electronic channels — an 18 percent increase from 2013. The prediction is that Canadian online sales will rise to $6.6 trillion.
Some of the most popular items Canadians purchase online include electronics, books, and fashion. Furthermore, many Canadians say they prefer to shop online due to better product selection. Saving both time and money rather than shopping at a physical location is a bonus.
Did you know that eight out of ten Canadians who made purchases online for the first time during the pandemic have said they will continue to do so?
What are the Benefits?
Having an eCommerce online presence allows your business to:
- expand to more markets - domestically and globally
- become more profitable
- have direct access to your customers
- drive more traffic to your website
- showcase more product
- better measure your progress
- boost your online presence
What is stopping you from leveraging an eCommerce platform for your business?
Are you looking to increase your business profile by moving to an eCommerce platform? Contact Twin Creek Media for all the tools to boost your online presence. We offer exceptional marketing planning and production services, including eCommerce website development, to help you achieve instant results.