International consumers want Canadian goods PwC finds
According to a recent report by the consulting firm PwC, Canadian brands would benefit from taking advantage of foreign markets. A survey was conducted among 3,521 consumers in seven key countries – Australia, France, Germany, Italy, Japan, Mexico and the United Kingdom – about their perception of Canada and of Canadian brands and products.
International consumers want more from Canada. Ninety-six percent have a positive view of the country and 40% say they have visited Canada. Two-thirds were at least generally aware of Canadian products, with awareness being significantly higher among younger generations (more active on digital channels).
Among the respondents, 72% indicated that they had already bought Canadian products. At the top of Canada’s most internationally recognized products are furniture and home goods, with almost 90% of respondents believing that they are of equal or better quality than those produced in other countries.
“The positive traits associated with being Canadian like trustworthiness, reliability, and quality have created a halo effect for Canadian goods. That’s an easy shorthand for brands entering into new markets,” Anita McOuat, PwC Canada’s national leader for technology, media & telecom (TMT) and consumer markets, said.
The results of the survey show that the greatest barrier to purchasing Canadian products is the availability of these products in the various markets. According to the “Made in Canada” report, the current geopolitical climate is ideal for considering international expansion.
The consulting firm recommends that Canadian firms contemplating expansion build out a growth strategy, set out online and digital channels and a strong supply chain, are upfront about their “Canadian connection,” explore partnerships with local retailers, and structure operations to minimize tax burdens.
“Canadian brands should look at partnerships with distributors as well as local and national retailers. Many customers prefer buying Canadian goods through a local or national retailer, so making sure the retailer has consistent availability and supply is key to effective international expansion,” said Myles Gooding, PwC Canada’s national retail & consumer leader.