Although it’s been around for a while now, the Canadian digital marketplace is far from settled. Just like its counterparts in the rest of the world, the online market of the Great White North has undergone more changes in the last couple of decades than the entire marketing system has seen in the last few centuries. What’s more, the digital marketplace is expected to go on changing as new technologies and new protocols come into play.
If you want to stay afloat in such a highly mutable system, you need to know what the situation is, and where the Canadian digital marketplace is expected to go.
People Are Spending More Time Than Ever Online
Gone are the days when you had to leave your internet connection at home! It’s common knowledge that more advanced gadgets and better connectivity have people spending more time than ever online, but what doesn’t occur to everyone is that this lifestyle is not just about snapping selfies. Millions of people in Canada and across the globe now maintain virtual identities, which some even consider to be quite different from their identity in person.
It’s no secret that it is through these virtual identities, which are often bolder and more open, that most people will find out about products and services, whether it’s by checking out the social media buzz about a new smart phone or looking for investment opportunities. This is the environment in which the Canadian digital marketplace is operating
Digital Developments Are Changing the Face of Business
This change in attitude and other digital developments are steadily changing the face of business, and it won’t be surprising if entirely new models pop up in the next few years. Currently, it’s now common to do business with people hundreds of miles away in the blink of an eye – something that’s extremely valuable in a country as large as Canada.
Aside from connectivity, however, there are other dramatic ways in which the profitable creation of products and services has changed. In the Canadian digital marketplace, there’s a lot of money to be made by incrementally changing products to make them fit for the digital age, disrupting current systems of doing business to make them more efficient, and even re-writing the way people think by introducing next-generation technology.
Regulating the Canadian Digital Marketplace
Because billions of dollars ride on the fluctuations of the Canadian digital marketplace, it’s important for safeguards to be set in place to protect both consumers and businesses of all sizes. As such, Canada has laws set in place to ensure fairness across the different aspects of the online market. Although the government has come under fire for its strict regulations, it is to be hoped that transparency and openness to change will prevail in the future.