Canadian eCommerce growth was recently flat but still has an attractive upside
Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.
Also interesting is the trending of Canadians from buying at non-Canadian sites to domestic sites (63% domestic, 37% foreign). This domestic shift clearly benefits the launching of a new eCommerce business in Canada.
The sales opportunity lies with the early adopters, individuals primarily the 18-34 year old age range. This segment is more technologically savvy and more likely to purchase online. In a 2003 to 2004 sampling comparison, this segments overall e-commerce spending increased 44%. The 35 to 54 age group increased only 5% and 55+ increased 18% (includes online travel).
Overall Internet Adoption rates still trail the U.S. and come in at approximately 52%. However, with the development of new Internet infrastructures and the maturation of Canadian ISPs, this number will likely rise in the next 3-5 years. The following quote from the Canadian...
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