There are many countries that have been struggling with the impact of COVID-19 in many aspects such as health, social, and economy.
As we can see the world has changed in a blink of an eye, however, this report talks about Canadian shopping behavior and spending habits in light of the COVID-19 pandemic, and the impact of COVID-19 on retail in Canada as well.
Without further ado, let’s get into details about the impact of COVID-19 on retail.
Canadian Consumer Perspectives During COVID-19
We cannot deny the impact of COVID-19, as it was already changing Canadian consumers’ habits before it started to escalate, besides the impact of COVID-19 on retail.
- As per the survey, 94% say that they are washing their hands frequently, along with 81% who observe more proper etiquette when coughing or sneezing.
- Overall, 75% of people say that they are maintaining a safe physical distance from other people. The percentage of this rises to 76% of people who are 40-54, 81% of people who are 55 and older and decreases to only 70% of people who are 18-29.
- According to the survey, there are 96% of respondents believe that the Canadian economy will be negatively impacted as a result of COVID-19, and 78% expect that impact to be significant.
- However, when it comes to personal finances, Canadians are pessimistic about it, 28% of Canadians say that their financial situation is worse than it was at this point last year, compared to 22% in the survey in 2019.
The following chart tracks cumulative cases globally and in Canada
Impact of COVID-19 on Retail: Online Retailers Will See a Sales Rise
According to the survey, Amazon and many other online retailers will see a sales rise.
- As reported there are 52% of Canadians say that they are more likely to buy online and this percentage is expected to grow substantially.
- When it comes to younger people who are 18-29, they are more likely to turn to online retailers with a percentage of 58%.
- On the other side people who are 55 and up are somehow less likely to do so with a percentage of 44%.
- If we’re talking about Amazon particularly, it will see sales increase due to the result of COVID-19.
- As reported, 8% of Canadians say that they had increased their Amazon shopping over the past 30 days. The percentage rises to 12% of those who are 18-29.
- Moreover, 13% of Canadians overall expect to spend more on Amazon in the upcoming weeks.
- However, when it comes to online grocers, they as well have become increasingly popular as the pandemic has spread, as reported by 15% say that they will spend more in the following weeks.
- The growth in online grocery shopping will be most pronounced in Ontario, as there are 19% of people expect to buy more of their food online.
Check the full report for more insights about the impact of COVID-19 on Retail, and about the insights in Canada amid the COVID-19 pandemic.
The Table of Content of “COVID -19: Voice of Canadians and Impact to Retailers Report”:
- COVID-19: A non-exhaustive chronology of recent events
- Tracking cumulative cases globally and in Canada
- Canada’s retail sector: Macro-economic outlook
- Canadian consumer perspectives during COVID-19
- Consumers won’t be the same after COVID-19 Neither will retail.
- This is a time for retailers to be authentic and show they care
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We, therefore, surveyed 1,000 Canadian consumers from coast to coast to coast to gain insights into their confidence about Canada’s economy and their own personal financial situation.1 We also investigated how their behaviors have changed—and will continue to change—as they and the citizens of the world deal with the impact of COVID-19. Our survey was conducted from March 16 to 18, 2020.