Market Overview

Experience Canada

Valuable market insights for a better understanding!

Key market insights for our Partners to better understand the business opportunity in Canada!

Canadian population: 36,726,609
Urban population: 80%
GDP per capita: $56,036.08 (#10)
Average household income: $79,000
Average age: 39.9 years
Two official languages: English and French
French speakers: 23.2%
English speakers: 75%
Spanish speakers: 6,775,765
Chinese speakers: 1,487,580

Canada is ethnically a diverse country with the following native languages:

• 641,100 speak Mandarin.
• 594,705 speak Cantonese.
• 568,375 speak Punjabi.
• 553,495 speak Spanish.
• 525,375 speak Tagalog.
• 514,200 speak Arabic.

(Source: Statistics Canada 2016 Census)

This is important to note, especially for Merchants who offer products or services in these languages.

Based on these statistics, all Canadian Banks, Trust and Insurance Companies have customer support in both official languages - English, and French, as well as in Chinese and Spanish due of the growing prevalence of these ethnic populations in Canada

Industry projections

eCommerce sales are projected to increase to 48% by 2018, bringing the market total to almost $40 billion.

There were over 18 million digital buyers throughout Canada in 2015 and by 2018 this figure is estimated to increase to 20 million digital buyers.

Cross-border

Canadians shop more abroad than domestically, with 67% of digital shoppers purchasing from other countries. Top cross-border destinations include the U.S.A.

Card payments

Debit card holders 94% Credit card holders 79%

Canadian Online Payment Ratio

pie chart for credit card

Credit cardholder

pie chart for debit card

Debit cardholder

pie chart for paypal

Paypal

Canada's Largest Financial Institutions

Bank of Nova Scotia

1040 Branches
Capitalization: 89.6 Billion CDN

Toronto Dominion Bank

1165 Branches
Capitalization: 130 Billion CDN

Banque of Montreal

939 Branches
Capitalization: 57.2 Billion CDN

Royal Bank of Canada

1355 Branches
Capitalization: 130 Billion CDN

Canadian Imperial Bank of Commerce

1100 Branches
Capitalization: 49.9 Billion CDN

National Bank of Canada

429 Branches
Capitalization: 21 Billion CDN

Online & Mobile banking key figures

• 96% of Canadians have a chequing account
• 68% of Canadians use online banking each week, compared to only 16% that step into a branch
• 31% mobile app (transaction)
• 22% mobile app (payment)