Canadian online spending expected to reach $4.6 billion by year-end
Canadian consumers will spend $4.6 billion on products and services, including travel bookings, over the Internet this year, a 23% increase from 2004, according to a newly released eMarketer report. Online sales growth is expected to be in excess of 20% until at least 2008, when online spending will reach an estimated $8.3 billion, according to eMarketer.
Online spending in Canada accounted for 1.1% of total retail spending in the country in 2004, compared with 2% in the U.S., eMarketer says. The average annual amount spent online by Canadian consumers totaled $448 in 2004 and is expected to total $483 by year-end.
“Average spend online is projected to increase annually as Internet users become increasingly seasoned online buyers and consumers have more choice in retailers and products,” said Jeffrey Grau, senior analyst.
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