Canadian mobile penetration and bank access have created a high-potential environment for both proximity and peer-to-peer mobile payments. But entrenched payment habits and monopolization have created a slow growth environment that will force providers to adapt.
According to a PayPal-commissioned poll by Maru Group in July 2021, almost three-quarters (72%) of adults in Canada said they like being able to order groceries online,
Brick-and-mortar retail’s growth outpaced ecommerce for the fourth straight quarter in Q1. People are returning to in-person activities like dining out. Spending on food services and drinking places rose 25.4% YoY in the first four months of the year, per the US Commerce Department. But there are also warning signs that inflation is weighing on some consumers.
Our latest forecasts for ad spending in Canada, which include our first-ever estimates for Google and Meta, show strong growth overall and an accelerated shift to digital.