In Canada, the trends are changing. Indeed, credit card use is on the rise, and online spending continues to surge in Canada. Ecommerce in Canada is becoming a big business, growing to $15.3 billion a year. That may be small compared to ecommerce spending in the U.S., but it still represents a substantial increase in online spending for Canada.
The following infographic offers some insight into what Canadians are doing with their money online:
As you can see, the most popular orders are for travel. And that makes sense: Booking travel is much easier online than in other venues. You can even use travel rewards credit cards to ensure that you get the most bang for your buck.
It’s interesting that many Canadians buy online from Canadian retailers. There had been some anecdotal stories about them “going” to the U.S. for their online shopping, especially for Black Friday sales. But with Canadian retailers getting in on the act, it appears that it easier for Canadians to keep their dollars here.
The trends keep showing that Canadians are getting ready to embrace a cashless lifestyle, and that they are interested in technology to make shopping, and other financial transactions easier. While Canada may never quite catch up to the U.S. in terms of raw numbers, the percentage of Canadians shopping online may soon be on par with our neighbors to the south.