Online business statistics in Ontario

The way we live has rapidly transformed over the last decade. Largely, these changes have played out as a result of the vast expanse and possibility that the online world has afforded us. One of the most noticeable transformations is the way that the digital world has altered business operations. Ontario is a business hub that is no exception to this trend. The changes have been brought on by remote working, social media and digital marketing as well as leaps forward in e-commerce. In this article, we will be taking a look at a few of the stats that tell us promising things about Ontario’s online business network.

E-Commerce

Of course, the pandemic transformed the way we think about commerce and business. Even after the lockdowns were lifted and the economy in Canada reopened, e-commerce remained crucial to retail market growth. According to Statistics Canada, from February 2020 to July 2022 retail e-commerce sales increased by 67.9%. Essentially, statistics show that the pandemic lockdowns transformed consumer habits post covid.

From online shopping to online gaming, there has been huge shift in consumer behavior, as more of people’s daily lives, finances and hobbies have moved online. Sectors like iGaming saw a huge increase post covid and continue to grow, with the latest figures showing that wagers increase 21% over 2023 (excluding promotional wagers). With 49 operators and 72 websites operating, sites have tailored their slot themes in Ontario to appeal more directly to local tastes, trends and needs.

There is no doubt that huge changes over the last few years have led to a booming e-commerce sector, and this is reflected in stats and trends across all online industries.

Social Media

Social media platforms have a huge impact on consumer behavior and in turn business stats. Social media marketing strategies are more sophisticated than ever before. Many businesses in Ontario are utilizing social media to reach customers and promote their brands, leading to an increase in overall sales statistics. Social media’s influence and the ways that it can be leveraged is something to consider for consumers and businesses alike as it continues to have an ever-growing impact on sales stats.

Remote Work Dynamics

The pandemic brought on more than just an increase in online retail sales; it ushered in a new way of working altogether. Remote working has transformed the way businesses think about productivity, employment and output, but also how technology can be used to make things easier and more efficient. Surveys by the Ontario Chamber of Commerce have shown that even post pandemic, there are plenty of businesses choosing to go further with remote work and the benefits it can offer.

In conclusion, there are several factors that have changed the way we think about business and consumer behavior in recent years. There is no doubt that many of these things were spurred on by the challenges of the pandemic. But further, rapid technological evolutions have opened up new possibilities. One of the key trends we can see in Ontario’s business world is the huge growth in e-commerce and digital marketing through social media. These trends are present around the globe, and as technology continues to evolve, we can only wonder at what will be possible for businesses in the future and how these things will shape the economy.