The Canadian e-commerce market grew by 75 percent in 2020, the second-fastest rate in the world, data from eMarketer shows.
The stat is one of several describing robust growth for Canadian e-commerce, which for the first time in 2020 made up more than 10 percent of retail sales at a 12.7 percent clip. Total e-commerce sales reached $64.5 billion. Canada’s 75 percent growth was only eclipsed by Argentina, which saw 100.6 percent gains.
“The shift to online shopping was slower to develop in Canada than other countries, notably the US, so there was plenty of room to grow,” said eMarketer principal analyst at Insider Intelligence Paul Briggs. “The pandemic forced retailers to sell more online, and consumers lapped it up. Retail e-commerce surged ahead last year and is now a primary growth driver of retail in Canada in 2021.”
E-commerce’s share of total retail should expand to 13.4% this year and reach 17.2% by in 2025.
Total Canadian retail sales are projected to hit $481.4 billion this year, making it higher than its pre-COVID-19 level. In 2022 it will likely top $500 billion.