There is a big opportunity for Canadian brands to capitalize on overseas markets, according to a recent report from PricewaterhouseCoopers. The survey of 3,521 international consumers in seven key countries found that 96% have a favourable view of Canada.
Other Key findings »
- Awareness of Canadian products is strong abroad, especially among younger groups.
- Lack of availability makes it difficult for overseas consumers to choose Canadian brands.
There is an opportunity for businesses in overseas markets to capitalize on increased consumer demand for Canadian brands and products and increase sales.
While 71.5% of Canadian exports went to the United States in 2018, consumer demands are increasingly coming from other markets.
PwC Canada conducted a survey of 3,521 consumers in seven key countries—Australia, France, Germany, Italy, Japan, Mexico and the United Kingdom—on their perceptions of Canada and Canadian goods and brands.
“Consumers in overseas markets aren’t necessarily familiar with Canadian companies. If a brand isn’t doing enough to identify themselves as Canadian, a customer might recognize a brand name without realizing it’s Canadian,” said Anita McOuat, PwC Canada’s National Leader, Technology, Media & Telecom (TMT) and Consumer Markets. “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.”
Two-thirds of respondents were at least generally aware of Canadian products, and awareness tended to be significantly higher amongst younger generations who are more active on digital channels. Overall, 96% of respondents held a positive view of Canada. Of those surveyed, 40% say they’ve visited Canada and only 4% said they had no interest in ever coming to this country.
The top barrier to purchasing Canadian goods, by a wide margin, was that Canadian products aren’t available in their country. According to the Made in Canada report, the current geopolitical environment makes it an ideal time to take a look at readiness for international expansion.
The full Made in Canada report is available from PwC Canada.