Online shopping is currently all the rage in our country, and for good reason. If it saves time, money and effort, count us in! While customers seem to be hopping on the online shopping bandwagon, many small businesses in Canada are still struggling to ride this trend.
Several customer behaviour trends suggest that online shopping is poised to be the next big thing for Canadian small business.
We’ve Never Been More Enthusiastic About Spending Money Online
The amount of money that customers spend on online shopping is increasing by billions every few years. While Canadians spent about $7 billion shopping online in the 2010s, the amount tripled to $20 billion in a mere five years and is projected to quadruple. If you’re a business owner who has yet to make the leap to online retailing, wait no longer. Online popularity depends on visibility and customer loyalty – and both come from being in the game as soon as possible.
Our Government Is Committed To Making Online Retailing Easier
The federal government has announced several schemes and policies amounting to $10 million to make the internet both faster and more accessible. Internet literacy is also on the rise. This means that more and more people from rural areas will be experimenting with online shopping. There’s a huge prospective customer base in Canada just waiting to be tapped.
Small Niche Businesses in Canada Can Have Worldwide Reach
Running your business online requires less capital, which can be a blessing if you’re a small business. The need for a bricks-and-mortar store and employing several people to manage a physical store is eliminated, and you can reach more people in half the time and for less money. If you deal in niche products – like offbeat art supplies or merchandise for an underrated movie with a cult following – you’re likely to have loyal customers and tons of international orders around the clock.
Online Shopping Is Fast Becoming People’s Preferred Option
Besides being easier for you to conduct business, website-hopping is definitely the preferred option for customers. About half the Canadian population is keen to save both time and effort by shopping online instead of going to stores at the local mall. Since websites have no closing times and don’t require dressing up and travelling, people can order stuff at 6 in the morning while on their commute to work. Thanks to the convenience online businesses offer, their sales volumes remain high.
These trends indicate that 2018 could be a big year for small businesses in Canada – that is if retailers are willing to rise to the needs and challenges of the online market. And it’s not that hard to do. In just a few simple steps, you can secure a domain name, build a social media presence and obtain a degree of range and visibility you probably never imagined. Building a loyal customer base might take a while, but once your brand becomes visible, it’ll be hard to keep up with the number of orders you receive.