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[WHITE PAPER] BDC reveals COVID-19’s impact on Ecommerce Study 2020
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[WHITE PAPER] BDC reveals COVID-19’s impact on Ecommerce Study 2020
Table of Contents
A new report from the Business Development Bank of Canada (BDC) has revealed insightful data on the COVID-19 pandemic’s positive impact on Ecommerce. However, despite global online sales reaching $39 trillion by 2023, Canadian entrepreneurs are still slow to seize e-commerce opportunities.
Canadian Entrepreneurs are SLOW To Seize e-commerce opportunities
The report, which was conducted in June 2020 among 1,000 owners or decision-makers of Canadian small and medium-sized businesses, as well as data from Statistics Canada, Léger and Forrester.Â
It indicated that although e-commerce has exploded since the COVID-19 pandemic and nearly 85% of consumers now buy online, only 46% of Canadian entrepreneurs plan to sell virtually after the health crisis.
BDC reveals: Moving to ecommerce can be challenging to canadian entrepreneurs
Entrepreneurs most frequently mention the difficulty of providing a friendly online user/customer experience (46%), developing the right skills (33%) and driving profitability (31%) as top cybercommerce challenges.
5 Steps to compete online and drive profitability
Key findings of the study confirm that E-commerce increases profitability, accelerates growth and brings resilience in times of crisis
The BDC study reveals which sectors have seen the fastest growth in online sales and why e-commerce builds business resiliency.
The study also explains how to deal with ecommerce struggles, including shipping delays and logistic issues.
The BDC study offers solutions and a roadmap for getting started or taking existing online sales to the next level. The roadmap includes how to:
- Understand online sales in your sector
- Get to know your customers/users and their online preferences
- Review your relationships with business partners and your business model
- Develop new skills internally
- Define sales objectives and optimize efforts
About BDC
BDC is the bank for Canadian entrepreneurs. It provides access to financing, as well as advisory services to help Canadian businesses grow and succeed. Its investment arm, BDC Capital, offers a wide range of risk capital solutions. For more than 75 years, BDC’s only purpose has been to support entrepreneurs in all industries and at all stages of growth. For more information and to consult more than 1,000 free tools, articles and entrepreneurs’ stories, visit bdc.ca.
Download your FREE Copy of the Study
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About The Author
Kendra Leone
Kendra Leone is a staff writer for MTL+Ecommerce, covering Montreal and Quebec News. Kenda loves to stand out in a crowd. Her hair is never the same color and she loves her feminine, yet punk style. Kenda is passionate about art, feminism, culture and cinema. She studied anthropology and journalism before turning her attention to Ecommerce and Digital Marketing.
Kendra Leone
Kendra Leone is a staff writer for MTL+Ecommerce, covering Montreal and Quebec News. Kenda loves to stand out in a crowd. Her hair is never the same color and she loves her feminine, yet punk style. Kenda is passionate about art, feminism, culture and cinema. She studied anthropology and journalism before turning her attention to Ecommerce and Digital Marketing.
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