The Share of B2C E-Commerce in Canada is Expected to Exceed EUR 100 Billion by 2027
This comprehensive report sheds light on significant trends and insights surrounding the rapidly expanding adoption in several areas such as B2C E-Commerce Market, Online Payment Methods, as well as BNPL Services in Canada.
B2C E-Commerce Expansion in Canada
In the realm of B2C E-Commerce in Canada, significant growth is expected, with forecasts suggesting a valuation exceeding triple-digit billion EUR by 2027, as highlighted in the report. This surge is propelled by a rise in digital consumers and online transactions, reshaping the retail landscape and offering promising prospects for online sellers.
By 2027, the sector's share of total retail sales is expected to reach double digits, driven by monthly sales spikes and government-driven digital transformation initiatives. Canadian retailers witnessed robust sales growth in February 2024, indicative of an upward trajectory.
Online Payment Trends and Market Dynamics
The landscape of online payment methods is rapidly evolving, led by credit cards and PayPal, with digital wallets anticipated to claim a significant market share by 2025. Amazon remains a dominant force in Canada's online retail scene, capturing nearly half of the market traffic as of March 2024.
Diverse adoption of BNPL options among retailers underscores varied business strategies, while a growing focus on sustainability and customer retention amidst economic fluctuations is evident. With innovative payment solutions and supportive regulatory frameworks, the B2C E-Commerce market is forecasted for sustained growth.
Key Questions Answered
- 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?
Table of Contents
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
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Amazon
- Canadiantire
- Etsy
- Interac
- Kijiji
- PayPal
- Walmart
