Two of the biggest companies doing retail business in Canada are at war with each other: Visa and Walmart. Most Canadians have not noticed, though, because the war is taking place only in select markets. However, if the current trend continues, it could be -- as the slogan goes -- coming soon to a store near you.
A BNP Paribas global study finds that Millennials are starting more businesses, with higher headcount and targeting higher profits than Baby Boomers . In Canada, the allure of being your own boss is also strong with young adults: A study by Intuit shows that one quarter of Millennial-age entrepreneurs have never held a full-time job prior to starting out on their own -- nearly three times more than entrepreneurs ages 35-54.
According to Alberta's Centre for Innovation Studies, Canada has the second-highest level of entrepreneurial activity in the world. Having been with eBay Canada for more than a decade, and having spoken to eBay sellers across the country, I have firsthand proof that the entrepreneurial spirit is incredibly strong in Canada.
There has been some debate in Canada recently over the issue of sales taxes when making purchases on the Internet from abroad. Right now, when Canadians buy products and services, such as clothes or movie streaming subscriptions, from online vendors located abroad, it is the consumers who are responsible for declaring sales taxes.
As people continue to adopt VR in the mainstream, many of our daily activities will be done in VR, as well. One of those activities, retail shopping, could easily make the transition. Brick and mortar retailers have already embraced online and mobile outlets. It won't be long before we hit the next logical step: the VR outlet.
Summer -- generally a slow season for retail -- is becoming a popular time of year for deal events to catch consumers' attention and create urgency for purchases with seasonally-relevant, limited-time offers. A consumer may not have planned on opening their wallet, but if the deal is truly too good to pass up, then...
The explosion of emojis has changed texting and digital communications, but how useful are they in business? While some industries are waiting to see if this animated and emotional trend will blow over, retail marketers are embracing emojis as a new way to engage potential and repeat customers and increase sales.
For chain retailers, NFC can also be used to download information about product availability. If one store is out of stock, then it can provide a list of other stores within the vicinity that has the item in inventory. This increases the likelihood of customers immediately going to the same retailer in another location rather than potentially shopping at a competing store for the same product.
Studies have shown that on average, we have to enter passwords eight times per day for the 10 different online accounts or applications we regularly use every week. You could use the same password for each, putting you at increased risk for fraud, or you have to rely on your memory for longer or more complex passwords. That's where biometrics come in.
Not to oversimplify Economics 101, but solid population and wage growth are among the key contributors to both healthy retail and real estate sectors. And with BC and Ontario economies and housing markets leading in this regard, it's no surprise that residents in these areas are brimming in the consumer confidence department.
Canada sits high on a global list of countries ready to make the shift because this country has quickly advanced all those requirements. Ensuring the payment made on your phone is as safe as the card you use today is absolutely key. New security measures developed just for mobile payments keep your payment information secure.