According to eMarketer research, Canadian online B2C (business to consumer) sales growth will exceed US e-commerce growth until at least 2016.
E-commerce sales growth in Canada for this year is expected to be 14.3%, whereas the anticipated US growth is 13.8%. By 2016, predicted Canadian e-commerce sales growth rates should hover around 11%, with US e-commerce sales growing at a rate of about 9.4%.
The Canadian population has a very high percentage of Internet users. Around 79% of the Canadian population had an internet connection in 2010 and about half of them shop online, according to Statistics Canada. That will climb by the end of this year, eMarketer predicts.
“eMarketer estimates that this year, 71.6% of internet users in the US will make a purchase online, compared with 60.8% of web users in Canada. By 2016, penetration in the US will rise by less than 6 percentage points to 77%, while the reach of online buying in Canada will go up more than 9 points to 70.1%.”
That doesn’t mean we’re making more online sales than the US, however. Canadian online sales are anticipated to be $21.45 billion USD by the end of 2012, compared to $343.43 billion USD in the United States. By 2016, Canada should hold about 6.3% of the estimated total of $548.62 billion in online sales across North America. However, with a population size that’s just under 11% of the US population and a less competitive marketplace, we’re certainly holding our own and showing great potential.
While this may not be a huge difference in growth rates, it’s encouraging for Canadian online businesses to know they’re not only keeping up with their US neighbours, but also giving them a run for their money.
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