Canada E-commerce Market Outlook

Synopsis
The above chart is Canada E-commerce Market Outlook (2018 to 2032)

Market Dynamics

The canadian e-commerce market is flourishing as it accounts for a significant portion of the country’s retail sales. according to statistics canada, canadian consumers spent approximately $32.7 billion on e-commerce sales in 2018. the market is expected to maintain a steady growth rate over the next several years as canadians adopt digital technologies and prefer to shop online. the increasing use of smartphones and tablets, and the increased availability of high-speed internet access, have been major drivers in the growth of the e-commerce market in canada. in addition, the emergence of newer technologies such as artificial intelligence, blockchain, and virtual reality have helped accelerate the growth of online shopping. moreover, the emergence of several marketplaces, such as amazon, ebay, alibaba, and walmart, has made it easier for consumers to compare prices, find products, and purchase items online, all of which has boosted the growth of online shopping in canada. it is expected that canada’s e-commerce market will continue to thrive through 2032. it is expected to reach a total market size of $108.3 billion by 2032, meaning that the current growth of 9.7% should be extended to average more than 19.0% throughout the forecast period of 2018 to 2032. during this period, mobile commerce is poised to lead the way, accounting for the largest share (43%) of total e-commerce spending in 2032. furthermore, several marketplaces are expected to continue expanding their presence in the canadian market, enabling them to capture an increasing share of total retail e-commerce spending. the growth of the e-commerce market in canada signals that retailers must optimize their digital presence in order to capitalize on the large opportunities presented by this digital transformation. this includes offering competitive prices and wider product selection, as well as driving investments in digital marketing and customer service technologies. furthermore, retailers need to develop an omnichannel strategy that blends the physical and digital shopping experiences in order to foster customer loyalty and attract new customers. overall, the demand for e-commerce in canada is expected to remain strong and the market trends suggest that digital technologies will continue to drive growth in the canadian e-commerce sector.