Download - Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association
![Page 1: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/1.jpg)
Economic Overview and Changing consumer TrendsShannon Baird, Senior Account ManagerBusiness Development Bank of Canada (BDC)
![Page 2: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/2.jpg)
2 Ideas for staying ahead of the game
Source: Conference Board of Canada. Provincial Outlook: British Columbia (Summer 2013)* Forecast.
British Columbia’s economic outlook
GDP Growth 2014*
2.4%Canada
3.0%British Columbia
GDP Growth 2013*
1.7%Canada
1.5%British Columbia
![Page 3: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/3.jpg)
Forestry Manufacturing
MiningConstruction
![Page 4: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/4.jpg)
4 Ideas for staying ahead of the game
+116,000
+1,270,000
by 2035
4,670
4,727
4,786by 2015
Source: Conference Board of Canada. Provincial Outlook: British Columbia (Long-term Economic Forecasts)
British Columbia’s demographic outlook
![Page 5: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/5.jpg)
5 Ideas for staying ahead of the game
• Growth rebounded after the recession, and has since continued to expand, but at a more moderate pace
• Economic growth should accelerate somewhat in 2013 and 2014
Fraser Valley economic climate, industry swings and trends.
![Page 6: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/6.jpg)
6 Ideas for staying ahead of the game
Source: Conference Board of Canada. Provincial Outlook: British Columbia (Summer 2013)* Forecast.
Abbotsford/Mission economic outlook
GDP Growth 2014*
3.0%British Columbia2.7%
Abbotsford/Mission
GDP Growth 2013*
1.5%British Columbia2.7%
Abbotsford/Mission
![Page 7: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/7.jpg)
7 Ideas for staying ahead of the game
Chilliwack’s Impressive GDP Growth
![Page 8: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/8.jpg)
8 Ideas for staying ahead of the game
Source: Conference Board of Canada. Provincial Outlook: British Columbia (Summer 2013)* Forecast.
Fraser Valley Unemployment Rates
2012
6.5%Chilliwack
7.9%Abbotsford/Mission
2011
5.4%Chilliwack
8.9%Abbotsford/Mission
![Page 9: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/9.jpg)
9 Ideas for staying ahead of the game
Canadian Unemployment Rate Comparison
![Page 10: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/10.jpg)
10 Ideas for staying ahead of the game
Abbotsford-Mission housing market
![Page 11: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/11.jpg)
11 Ideas for staying ahead of the game
Fraser Valley*: Residential Sales and Average Prices
![Page 12: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/12.jpg)
12 Ideas for staying ahead of the game
Abbotsford-Mission non residential activity
![Page 13: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/13.jpg)
13 Ideas for staying ahead of the game
Abbotsford-Mission GDP Outlook, by sector
![Page 14: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/14.jpg)
14 Ideas for staying ahead of the game
The recession was harder for consumers than for businesses
![Page 15: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/15.jpg)
ManufacturingConstruction
Services
![Page 16: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/16.jpg)
Mapping your future growthGame-Changing Consumer Trends
![Page 17: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/17.jpg)
17 Ideas for staying ahead of the game
Consumer Behaviour in Canada
■ The Internet and the Empowered Consumer
■ The New Health Mania
■ The “Made in Canada” advantage
■ Customization is King
■ The Lingering effects of the Recession
![Page 18: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/18.jpg)
The Internet and the Empowered Consumer
![Page 19: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/19.jpg)
Online:
of Canadians are connected to the Internet, owning 2.6 Internet-capable devices on average
84%
![Page 20: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/20.jpg)
20 Ideas for staying ahead of the game
Changing Path of Consumer Purchasing
84% connectivity
A simple of lack of web presence is no longer enough
A structured, proactive & tailored multi platform strategy is required.
Source : The Conference Board of Canada, Metropolitan Outlook 2 Winter 2013, Economic Insight into 15 Canadian Metropolitan Economies.
![Page 21: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/21.jpg)
21 Ideas for staying ahead of the game
41%of consumers buy
products or services online.
50%of consumers perform an online research prior to a
purchase.
The Internet revolution
Consumer reviews posted online rank #2 behind personal recommendations as trusted sources.
75%of consumers say that
online ratings and reviews influence their buying
decisions.
![Page 22: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/22.jpg)
22 Ideas for staying ahead of the game
B2B – Business to Business and the internet
89% of companies will google new and potential suppliers
80% will have an in depth look at the website
57% will make their decision based on the quality of the webpage
What if there is no webpage?
![Page 23: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/23.jpg)
The Healthy Consumer
![Page 24: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/24.jpg)
of Canadians consider the health impact of a product as an important factor during the purchase decision process.
50%
![Page 25: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/25.jpg)
of Canadians are willing to pay a premium for healthy products.
33%
![Page 26: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/26.jpg)
Low Toxicity Product
![Page 27: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/27.jpg)
The “Made in CanadaAdvantage”
![Page 28: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/28.jpg)
28 Ideas for staying ahead of the game
30%of Canadian consumers
are willing to pay more for a locally
made product.
90%of consumers would stop buying from a company
using irresponsible practices
Canadians are proud of products and services made in Canada
Two thirds of Canadians have made an effort to buy local in the past year.
75%of consumers would pay more for products and services from a socially responsible company
![Page 29: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/29.jpg)
29 Ideas for staying ahead of the game
Internet Purchases in Canada
![Page 30: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/30.jpg)
Customization is King
![Page 31: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/31.jpg)
31 Ideas for staying ahead of the game
![Page 32: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/32.jpg)
32 Ideas for staying ahead of the game
Lingering Effects of the Recession
■ A profound and lasting effect on consumption habits
■ Consumer confidence remains weak
■ Low interest rates have spurred high debt levels
■ The Sharing Economy
![Page 33: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/33.jpg)
1 888 INFO BDC bdc.ca
Shannon Baird
Senior Account Manager
Fraser Valley Business Centre
604 586-2416
Thank you!
![Page 34: Business Development Bank of Canada - Report on Consumer Trends for the Fraser Valley CA Association](https://reader033.vdocuments.mx/reader033/viewer/2022061201/54796274b4af9f180c8b45ad/html5/thumbnails/34.jpg)