Every day more and more Canadians make the leap to buy online. More importantly though, the country’s existing online shoppers are clearly maturing and growing, purchasing with far greater frequency.
That’s right: Sustainable e-commerce growth is no longer dependent on first-time buyers. Instead, it’s increasingly coming from experienced, confident shoppers purchasing more goods, more often.
The state of Canadian e-commerce today
Canada Post’s latest whitepaper, Growing e-commerce in Canada, examines the characteristics of today’s online shoppers and delivers insights that can help merchants understand and extract enticing business opportunities as buyers transition from occasional visitors to hyper shoppers with increasing speed.
E-commerce really is retail’s new storefront
A remarkable 80% of Canadians shopped online in the past year, averaging roughly 11 transactions annually. The Hyper shopper, while the smallest sliver, is an important segment to understand to drive influence over the market.
Here’s how that breaks down by purchase frequency.
Canadians are buying more online goods, more often
Shoppers are expanding their online product portfolio, driving retailers to increase their product offerings and creating several emerging e-commerce segments. While clothing and electronics continue to lead the way, spending is rising in emerging segments such as toys, hobbies & games; as well as home improvement and non-traditional online categories like grocery.
By knowing what Canadians spend their money on, you can validate your own product mix and evaluate opportunities for expanding your online offering to capitalize on growth. . Also, consider evaluating your shoppers’ basket spend against the industry benchmark and plan activities that can help increase this spend.
The channel shift shows no signs of stopping
There has been – and will continue to be – a clear channel shift in Canadian retail as a result of this increase in shopper activity.
This behaviour is transforming the retail industry; making the online retail landscape more competitive and pushing e-commerce retailers to deliver a best-in-class experience to both acquire customers and build loyalty among evolved shoppers.
Worth the effort? Absolutely.