A number of retail trends are changing the way that Canadians shop.
A shift to online research, bargain shopping and a Canadian-made preference are just some of the trends affecting consumer behaviours. As these trends take more of a hold in Canada, retailers must adjust their marketing and business strategies to continue to compete.
Below are three of the major trends shaping Canadian shopping preferences.
Online research and consumer reviews
Some call Canada’s new shopping culture, the internet revolution, as 50% of consumers now conduct research on the internet prior to purchase. This research breaks down into a number of categories. Firstly, shoppers are comparing the online price to the in-store prices during shopping excursions.
An online price discount is enough to make a consumer buy the product online instead. Secondly, consumers are reading product reviews to help with their buying decisions and 75% of those consumers note that online ratings affect their buying decision.
Promotional websites and emails
Canadian promotional deals and coupons publisher, RedFlagDeals.com recently released a consumer survey revealing 2016 trends in Canadian retail consumption. The survey audience consisted of 1100 participants who browsed with the discount publisher. Results may be skewed to discount shoppers as a result. With that in mind, the survey revealed that overwhelming Canadians prefer shopping discounted retailers and due to the low Canadian dollar, they plan to spend locally.
Notable questions and revelations:
- "With the current state of the Canadian dollar, are you planning to focus more of your spending locally instead of going across the border?"
- Yes, I will focus on spending locally until the dollar improves - 85%
- No, I will continue to shop across border for access to products unavailable in Canada - 15%
- Do you looks for deals on a regular basis in your shopping routine?
- Yes, I frequently use forums and deals sites - 70%
- Yes, I frequently look at store flyers for deals - !9.33%
- Occasionally on big ticket items - 8.68%
- No - 1.21%
- Do you prefer to shop online or in-store?
- I do both equally - 50.51%
- Online - 32.62%
- In-store - 16.87%
The Canadian-made advantage
The lower Canadian dollar along with a newer trend in supporting local sees that 97% of Canadian consumers are purposely buying local. This is an advantage for Canadians retailers especially considering that 45% of Canadians make the effort to buy Canadian-made products.