Over the years, VL has kept a close eye on the state of ecommerce in the three major markets we serve:
Canada, the USA, and the UK.
Actively keeping track of changes to these ecommerce markets since at least 2014 with statistics, articles, and even infographics, it’s fascinating to see how far ecommerce has come in a relatively short time.
As we enter the fall of 2017 and many e-tailers move towards prepping for Black Friday, Cyber Monday, Christmas and other seasonal consumer holidays, it’s time for an update! Click below to catch up on the state of ecommerce from various years and perspectives, and keep reading for our account of where ecommerce is today — and where it’s headed.
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Healthy Growth of Canadian Ecommerce — Finally
Headlines broke across Canadian media outlets at the end of August: “Canada’s online retailers are growing faster than you think“. Splashed alongside these articles was the statistic “40%“, as in Canadian retailers’ sales are up more than 40%. It’s almost like the collective Canadian economy let out a sigh of relief; it looks as if we are finally winning some of our own home-grown dollars — instead of practically giving them away to foreign merchants with better deals, customer experiences, and so on. By the end of 2017, Canadian online sales are projected to reach 42%, and are expected to double in 2018.
Although there’s always more work that can be done in improving ecommerce and Canadian e-tailers’ bottom lines, the numbers from across the web and across the globe on the growth of ecommerce are growing at a steady pace.
Canada, UK, and USA Ecommerce Markets are Growing in Parallel
Revisiting our 2016 infographic on the growth of ecommerce across the three markets VL operates in — Canada, the UK, and the USA — it’s clear that there’s no signs of slowing growth in ecommerce and the revenues generated in each country year over year. But the pace of growth seems to be inching, and not skyrocketing upwards, which could be signs that there are still late adopters (or those who haven’t adopted at all). It could also signify the need for other, more precise and strategic adjustments and improvements to already established etailers; things that can further boost growth.
Clearly, those businesses that have seen the value of ecommerce and added as a sales channel to their mix are ahead of the game. Not only are these companies early to the ecommerce party, but in being early, they have had the time to scope out all the tools and cutting edge partners that serve ecommerce retailers (for example, VL OMNI and our quickly growing list of Partners). With ecommerce market worth billions for all three countries that VL operates in, early adopters with the right mix off applications and partners are getting a bigger piece of the pie.
The Growth of Ecommerce and Shopify/Shopify Plus
Perhaps one of the best indicators of the state of ecommerce in Canada, the UK, and the USA is the explosion of Shopify and Shopify Plus in these countries. With a huge market holding in the USA, and with the Canadian and UK quickly following suit, the ecommerce plugin for businesses sized start-up to enterprise has been experiencing incredible growth.
To fully break down the state of ecommerce today, including country-specific statistics and a deeper dive into Shopify’s growth as an indicator of ecommerce growth overall, VL will be co-publishing an updated State of Ecommerce Infographic in the coming days. Subscribe to our newsletter to be notified first, and to stay informed on some of the great things other industry leaders and VL partners are up to week-to-week, or month-to-month.
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