Canadian retailers have a lot of catching up to do if they want to better compete with their American counterparts in the increasingly important ecommerce sales category, suggests a new report from BMO Nesbitt Burns.
It shows the overwhelming majority of the estimated $16 billion in total ecommerce sales generated in Canada last year was by American companies.
The top three ecommerce retailers – Amazon, eBay and Apple – accounted for nearly a third of online shopping sales in 2014. The top 10, which again are all American companies, accounted for just above 50 per cent of ecommerce sales.
Of the top 20 ecommerce sites ringing up sales in Canada last year, only one is based in Canada – an electronics site called Canada Computers – which is in 19th spot, according to the report.
The report says ecommerce accounted for just 3 per cent of retail sales in Canada in 2014, or $16 billion out of $500 billion. In the U.S., ecommerce transactions account for about 7 per cent retail sales andRead More »from Canadian retailers falling behind U.S. in ecommerce: BMO