Description
Countries Covered: Canada
Pages: 56
Publication Date: 07/05/2024
Questions Covered:
- What is the projected value of Canada’s B2C E-Commerce market by 2027?
- Which payment methods in Canada are preferred by online shoppers?
- What percentage of Canada’s population is expected to shop online by 2025?
- What factors are influencing Canadian consumers to select specific retailers for their online purchases?
- What are the main reasons for merchants’ hesitancy to adopt BNPL services in Canada?
Key Findings:
In Canada, the Share of B2C E-Commerce is Anticipated to Hit Over EUR 100 Billion by 2027, According to the Latest Forecasts by yStats.com
Growth and Leadership in the B2C E-Commerce Market in Canada
The share of B2C E-Commerce in Canada is set for impressive growth and is anticipated to achieve a triple-digit billion EUR valuation by 2027. This growth is fueled by a significant increase in digital consumers and a rise in online transactions, as highlighted in the yStats.com report. The report reveals how digital adoption and changing consumer behaviors are reshaping the retail landscape in Canada, suggesting a promising future for online sellers.
The sector’s share of total retail sales is expected to reach a double-digit percentage by 2027, underscored by remarkable monthly sales surges. Furthermore, sales from Canadian retailers in February 2024 indicated a strong upward trend, supported by the government’s digital transformation efforts.
Innovations and Dynamics in Online Payment Methods
Online payment methods are evolving swiftly, with credit cards at the forefront, followed by PayPal and an expected surge in digital wallet adoption. Moreover, by 2025, digital wallets are projected to capture a significant share of the online payments market, reflecting a shift towards faster and more efficient payment solutions. Amazon remains dominant in Canada’s online retail scene, securing nearly half of the market traffic as of March 2024.
The varied adoption of BNPL options among retailers indicates a range of business strategies in the market. Additionally, the focus on sustainability within the B2C E-Commerce sphere is intensifying, with many merchants adopting green practices and focusing on customer retention amid economic fluctuations. The B2C E-Commerce market is projected for continued growth, driven by innovative payment solutions and a solid regulatory framework that encourages inclusive digital trade.
1. Key Takeaways
2. Management Summary
3. Canada B2C E-Commerce & Online Payments
3.1. B2C E-Commerce Market
- B2C E-Commerce Market Overview, May 2024
- B2C E-Commerce Sales, in CAD billion, in % of Total Retail Sales, 2021-2027f
- B2C E-Commerce Sales of Canadian-Based Retailers, in CAD billion, February 2020-February 2024
- Average Number of B2C E-Commerce Orders of Online shoppers Per Month, in Total Numbers, 2019 & 2022
- B2C E-Commerce Payment Transaction Volume, in millions, 2021 & 2022
- B2C E-Commerce Payment Transaction Value, in USD billion, 2021 & 2022
- Share of B2C E-Commerce Sales Making Up Total Retail Sales, in %, 2021 & 2022
- Share of B2C E-Commerce Shoppers Making Up the Total Population, in %, 2022 & 2025f
- Weekly Online Shopping Activities, in % of Internet Users, Q3 2023
- Online Shopping Drivers, in % of Internet Users, Q3 2023
- B2C E-Commerce Market Trends that had the Largest Impact on Performance Over the Past Year, in % of Online Merchants, March 2023
- Breakdown of Businesses Likely to Use B2C E-Com. as a Tool, by Type of Business, in %, 2023e
- Share of Online Merchants who Reported Higher B2C E-Commerce Sales Compared to the Prior Year, in %, 2022
- Share of Online Merchants Who Reported an Annual B2C E-Commerce Sales Growth of 20% or More, in %, 2022
- Share of Online Merchants Who Expected Their B2C E-Commerce Performance to Be Better in 2023 Than in 2022, in %, March 2023
- Reasons Online Merchants Are Optimistic About Their Growth Prospect, in % of Online Merchants, March 2023
- Top Recessionary Responses, in % of Online Merchants, March 2023
- Top B2C E-Commerce & Shopping Websites Ranking, % of Total Traffic Share, March 2024
- Top B2C E-Commerce Marketplace Websites Ranking, % of Total Traffic Share, March 2024
3.2. Buy Now Pay Later
- Top Reasons Non-Accepting Merchants Are Not Interested in Offering BNPL, in % of Online Merchants, 2022e
- Share of Respondents Who Have Not Heard of BNPL Services Before, in %, July 2022
- Share of Respondents Who Have Not Used BNPL Due to Lack of Need for It, in %, July 2022
3.3. Online Payment Methods
- Online Payments Market Overview, May 2024
- Payment Methods Used For B2C E-Commerce Purchases, in % of Online Shoppers, 2022
- Breakdown of B2C E-Commerce Payment Methods, in % of Online Shoppers, 2023e
- Share of Digital Wallets Making Up Total Online Payments, in %, 2025f
- Share of Consumers Who Use Prepaid Cards For Online Purchases, in %, April 2023
- Reasons for Using Prepaid Cards For Making Online Payments, in % of Respondents, April 2023
- Share of Citizens Who Are Worried About Using Their Credit Card Online, in %, April 2023
- Top Alternative Payment Methods Used When Making Online Payments, in % of Respondents, April 2023
- Satisfaction of Payment Methods Used For Making Online Payments, in % of Respondents, April 2023
- Factors That Influence Retailer Selection When Buying Online, incl. “Payments”, in % of Online Shoppers, May 2022
- Share of Food & Retail Transaction Volume, by Payment Type, in %, 2022e-2024f
3.4. Real-Time Payments
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- Average Number of Monthly Real-Time Payment Transactions Per Person, in Total Value, 2022 & 2027f
- Breakdown of Transaction Volume, by Payments Instrument, in % of Total Payment Transaction Volume, 2022 vs 2027f
- Breakdown of Spending Value, by Payments Instrument, in % of Total Payment Spending Value, 2022 vs 2027f
