Brands in Canada - Statistics & Facts

Published by A. Guttmann, Aug 14, 2018
In today’s world, the appreciation of a brand does not end with purchasing its products. In fact, nowadays brands need to be present in their customers’ lives on numerous levels in order to maintain and improve their relationships with them. In the mobile and social era, brick and mortar relationships have shifted towards the virtual plains of the internet. Now more than ever, customers have many outlets to express their love or hate of brands, and those opinions have a tendency to spread fast.

In Canada, with 47 percent of consumers engaging with brands on Facebook and 33 percent doing the same on Instagram, companies are more in the public eye than ever. Champs Sports has over 99 thousand video views on YouTube in Canada, and the company is also one of the leading brands on Twitter with over 550 thousand followers. The numbers show just how much pressure certain brands are under to perform well on social media and retain their customer base, particularly given that Facebook is considered a trusted brand by 51 percent of Canadians.

With this in mind, the most recent data shows that 75 percent of Canadian consumers agree that they better recall advertising from trusted brands or companies. Once a brand-customer relationship is established, customer trust is the base for success. More than 80 percent of Canadians claim they would pay more for products or services from trusted brands.

It is clear that customers have certain expectations of brands, and companies should be mindful of how they target customers as well as factors which could cause loyal followers to leave them. As of 2017, 78 percent of Canadians said that their reason for breaking up with a brand was unresponsive customer service, whilst 79 percent cited unknown data use as their reason. Further, the majority of Canadian internet users said that they disagreed with stores or brands using location-based technologies to identify them.

Brands should also work hard to maintain or improve quality. In a survey on brand trust and attitude towards product benefits, 63 percent of Canadian consumers said that they focus more on quality than quantity when buying products. In fact, the most recent data shows that over 55 percent of consumers said that quality material was the most important attribute when buying luxury goods.

As of 2017, the Royal Bank of Canada has the highest brand value in the country totaling over 16.6 billion Canadian dollars, closely followed by TD Bank which has a brand value of just over 16.4 billion. Perhaps unsurprisingly, TD Bank’s loyalty program TD Rewards features among the leading loyalty programs in Canada, having been given an index score of 66 percent in early 2018.



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Brands in Canada

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