The Canadian general merchandise stores e-commerce sector saw progressive growth from 2013 to 2023, culminating in sales of CAD 100.69 billion in 2023. From 2013 to 2016, the year-on-year variation fluctuated between 1.64% and 4.32%. However, from 2017 onwards, the sector experienced a more consistent increase, highlighted by a notable surge of 7.6% in 2020, largely influenced by the COVID-19 pandemic's impact on consumer behavior. The sector continued its upward trajectory, reaching a high of 9.57% in 2021, and reflected a Compound Annual Growth Rate (CAGR) of 7.65% over the last five years ending in 2023.
Looking into the future, the forecasted data predicts that the sector will continue growing, anticipated to reach CAD 135.73 billion by 2028. This represents a forecasted five-year CAGR of 4.71%, with an overall growth rate of 25.86% during this period.
Future trends to watch for include the potential impacts of emerging technologies such as artificial intelligence and machine learning on personalized shopping experiences, the growing importance of omnichannel strategies, and the influence of sustainability practices on consumer preferences.
