Since 2013, e-commerce sales in Canada have shown substantial growth, rising from $7.8231 billion to $76.001 billion by 2023. The e-commerce market saw an exceptional surge during the pandemic in 2020 with a year-on-year increase of 85.96%. The growth continued through 2021 at 25.02% and slowed slightly in 2022 and 2023 with respective increases of 7.86% and 7.27%. Over the last five years, the compound annual growth rate (CAGR) was 27.86%.
Looking forward, Canadian e-commerce sales are projected to reach $100.99 billion by 2028. The market is expected to grow at a more moderate annual rate of around 4.48%, reflecting a more stable, post-pandemic growth phase. This forecasted growth rate indicates an overall five-year growth of 24.52% from 2024 to 2028.
Trends to watch for include the increased adoption of mobile commerce, advancements in payment technologies, and the growing emphasis on personalized and sustainable shopping experiences. Also, the integration of augmented reality and artificial intelligence in e-commerce platforms is likely to drive future growth and innovation.
