2023 Ecommerce business insights: Canada Post
Canada Post commissioned a survey of 755 Canadian ecommerce merchants to understand their expectations and priorities for the year ahead.
Ecommerce has always been a fast-changing market – but never more than over the past few years. Canada’s online merchants have had to rethink their business models in the face of a global pandemic and contend with everything from labour shortages and supply chain constraints to inflation and economic uncertainty.
With many of these challenges still looming, Canada Post commissioned a survey of 755 Canadian ecommerce merchants to understand their expectations and priorities for the year ahead.
Canada’s eommerce growth continues
Nine in 10 Canadian online merchants reported higher ecommerce sales in 2022 compared to the year before, with more than a third (35%) saying their sales grew by 20% or more.
Sustainability is gaining momentum
Canada Post asked merchants to identify the market trends that had the largest impact (whether positive or negative) on their performance over the past year. Growing consumer demand for sustainability came out on top (21%), followed by increased consumer spending (19%) and support for local businesses (18%).
Ecommerce merchants are optimistic about 2023
Canada’s online merchants are feeling good about their growth prospects for 2023, with 60% saying they expect their ecommerce performance to be better than in 2022. They credit their optimism primarily to their growing customer base (26%), business changes they’ve introduced over the past few years (26%), increasing demand for their products (25%) and supply chain issues clearing up (25%).
Customer retention and cost reduction are top priorities in 2023
Over the next 12 to 18 months, merchants will focus on retention and growing sales from their existing customers (26%) and reducing costs to save money (25%). These are common recessionary responses, and they suggest that merchants may be concerned about the current economic climate and proceeding with caution.
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