Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Canada B2C E-Commerce Market & Online Payment Methods 2024" report has been added to ResearchAndMarkets.com's offering.
In an era marked by digital transformation, the Canadian B2C E-Commerce market is forecasted to experience substantial growth. The multi-faceted and dynamic nature of online retail is illustrated by projections of market value exceeding a landmark triple-digit billion EUR by 2027.
This expansion is supported by the growing number of digital consumers and the diversification of online transactions, which are set to redefine the retail industry landscape in Canada. Retail sales have depicted a consistent upward momentum, with February 2024 showcasing a strong performance indicative of the vibrant nature of online commerce in the region.
Online Payment Preferences and Evolution
The online payment ecosystem in Canada is characterized by rapid evolutions, with credit cards and PayPal maintaining a significant presence, and the emergent digital wallets expected to secure considerable market share come 2025.
Noteworthy is the continued dominance of Amazon in the digital retail space, which commanded almost half of the marketplace traffic by March 2024. Furthermore, the varied integration of Buy Now Pay Later (BNPL) services by retailers reflects a diverse range of business approaches, responding to the multifaceted demands of consumers throughout the nation.
Consumer Behaviour and Market Influences
An array of factors steer Canadian consumers towards certain online retailers, with a particular emphasis on sustainability endeavours and initiatives aimed at nurturing customer loyalty. These elements, coupled with a conducive regulatory environment, foster a robust ecosystem for continuous growth within the B2C E-Commerce sector.
The market is also responsive to the current economic climate, balancing innovation in payment solutions with an appreciation for the necessity of sustainable business practices.
Exploring Merchant Perspectives on BNPL Services
Although the BNPL service model is gaining popularity among consumers, merchant adoption rates appear variable. Further investigation into the reasons behind reticence in adopting BNPL solutions by certain retailers could provide insights valuable for understanding the broader commercial and retail payment landscape in Canada.
This comprehensive report provides an in-depth look at undercurrents that define the B2C E-Commerce and online payment trends in Canada. It serves as a pivotal resource for stakeholders seeking to navigate the intricacies of the current digital transaction environment and to make informed decisions based on the evolving market dynamics.
Company Coverage:
- Amazon
- Canadiantire
- Etsy
- Interac
- Kijiji
- PayPal
- Walmart
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/6w95za
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