In 2023, the e-commerce sales of sporting goods, hobby, book, and music stores in Canada were estimated to be around $13.970 billion. Forecasted data suggests a steady growth trajectory from 2024 onwards, with an average annual increase of about 1.5% over the next five years, reaching approximately $15.022 billion by 2028. The year-on-year growth indicates a consistent upward trend, reflecting a stable increase in consumer spending and e-commerce penetration in this sector. The compound annual growth rate (CAGR) for 2024-2028 stands at around 1.47%.
Future trends to watch for include the impact of emerging technologies like augmented reality in online shopping, the increasing influence of social media platforms in driving sales, and the growth of subscription-based models. Additionally, consumer preferences are likely to shift towards more sustainable and eco-friendly products.
