Industry Changes in CANADA as a Result of COVID-19
Almost every single respondent (96%) said their business was impacted by COVID-19. 44% said the changes they made as a result of the pandemic (things like embracing e-commerce, working remotely, or rearranging floor space) are permanent. The majority of respondents believe these changes had a positive impact on their business. 61% of businesses across all three industries agree that the shifts and changes brought about by the pandemic have been mostly positive. They expect new technologies, consumer demand, and product or service innovations to continue to drive change within their industries over the next decade. COVID-19 accelerated the shift to e-commerce Many retail trade businesses were already on the path to embracing e-commerce. The pandemic simply got them there faster. Retail e-commerce sales reached a record $3.9 billion in May 2020, a 99% increase over February of the same year. Year over year, e-commerce sales more than doubled in Canada in 2020, and there seem...