6. These economic forces
are not only changing our
business environment,
but are also reshaping
consumer behaviours.
7. So, what are the next gamechanging consumer trends?
8. Consumer Behaviour
in Canada
1. The Internet and the empowered consumer
2. The health “mania”
3. The “Made in Canada” advantage
4. Customization is King
12. The path of a purchase
has not changed, but
the channels consumers
use are different.
13. Path of a Purchase
1
Awareness
Building
awareness
2
Intent
Consideration
3
Decision
Pre-purchase
activities
Purchase
47%
of Canadian consumers
conduct a broad online
search prior to purchase
14. Path of a Purchase
1
Awareness
Building
awareness
2
Intent
Consideration
3
Decision
Pre-purchase
activities
Purchase
42%
consult customer review
sites before buying
15. What are the Most Trusted Sources
of Opinion for Consumers?
92%
70%
47%
47%
46%
42%
41%
Source: Nielsen “Global Trust in Advertising” report 2012.
16. Path of a Purchase
1
Awareness
Building
awareness
2
Intent
Consideration
3
Decision
Pre-purchase
activities
Purchase
42%
search online to find the
best place to buy
17. Path of a Purchase
1
Awareness
41%
Building
awareness
2
Intent
Consideration
3
Decision
Pre-purchase
activities
Purchase
41%
of Canadians buy products
or services online
18. Path of a Purchase
1
Awareness
Building
awareness
2
Intent
Consideration
3
Decision
Pre-purchase
activities
Purchase
57%
of the decision
to buy a product
is made online
19. You need an online
presence!
Even if you don’t sell online.
Canadians make their buying
decisions online.
20. “High-Web SMEs have
experienced revenue growth
that was up to 22% higher
than low-Web SMEs.”
Source: BCG survey of 15,000 SMEs in countries
22. Online ranks as top source when
looking for a new supplier
%
100
90
80
70
60
50
40
30
20
10
0
Go-to sources
Internet
search
engines
Company
websites
Business
network
Employees
or business
partners
Magazines
Most influencial sources
Trade
shows
Friends
and
family
24. “A simple Web presence is
no longer sufficient for
businesses; they need
to adopt and develop a
multi-channel approach.”
25. The
Opportunity
The
Strategies
■ The Canadian
online retail
presence is
underdeveloped
■ Build and develop an
online presence
■ Carefully manage
online reviews
■ Understand your
market and offer
flexible acquisition
options (online/offline)
29. Impact on Consumer
Behaviour
Health awareness is changing how Canadians:
■ eat
■ practice sports
■ spend their leisure time
■ purchase products for their family
34. The
Opportunity
■ Canadians spend
an average $935
per year on health
and wellness
The
Strategies
■ Provide new solutions to
meet the public’s desire
for a healthier lifestyle
■ Adapt your products
and services to heathconscious consumers
■ Promote health benefits
of your products and
services
37. Nearly One Out of Three Consumers
Are Willing to Pay a Premium
on Ethically Made Products
Social Responsibility
38.
39.
40.
41.
42.
43.
44. The
Opportunity
The
Strategies
■ SMEs can differentiate
themselves from
multinationals
■ Source locally as much
as possible
■ The “Made in Canada”
should be an option
■ Communicate and
promote the local
characteristics of
your products
46. An increasing number of
Canadians are looking for
custom-made products,
tailored to their specific needs.
They also want to be more
engaged in product creation.
47. Two ways to address
this demand
Customization
Expand product lines
+
Mass customization
48. Mercier Wood
Flooring
■ Expansion of
product line
■ 13 wood species,
74 rich colors, and
beautiful ecofriendly finishes;
Mercier wood floors
offers 3000 different
possibilities
49. mymuesli
■ Mass customization
■ Production of cereals
adapted to your
specific needs: you can
create and order a
unique muesli directly
online
■ Matches your demand
(tastes, allergies, etc.)
51. The
Opportunity
The
Strategies
■ SMEs’ flexibility gives
them a certain
advantage over larger
corporations in using
mass customization
■ Involve consumers
in product creation
■ Reorganise the business
model around mass
customization
■ Expand product
line-up with simple
personalization options
52. Conclusion
■ Engage customers in a closer dialogue
■ Understand the factors that are reshaping
the way consumers perceive value
■ Emphasize the local value of your products
53. Take the time to develop
strategies with your team.
Ask yourselves: how can
you make these trends work
to your advantage?