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There appears to be a disconnect between consumers and businesses in Canada when it comes to e-commerce uptake, according to the results of a survey by Business Development Bank of Canada.

More than half (56 per cent) of respondents to the survey said they shop online while 77 per cent research potential purchases online before buying. Yet, only 12 per cent of Canadian small and medium-sized businesses sell online, down from 18 per cent in 2013. Meanwhile, the value of Canadian online purchases is projected to hit $34 billion by 2016, up from $18.9 billion in 2012, MasterCard’s Digital Evolution Index shows.

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The big players get the power of e-commerce and are benefitting from it. Walmart Canada reported a 4.1 per cent boost in its fourth quarter 2014 sales in part due to investment in its e-commerce site.

Perhaps the biggest opportunity afforded by e-commerce is the ability to reach foreign markets, leveling the playing field for smaller companies with limited resources. “That’s the beauty of the Internet. The world is big and the Internet gives you access,” says Ian Thompson, co-founder of Vancouver-based www.listentoyourgut.com, which sells natural remedies Jini Thompson, his wife, developed to cope with Crohn’s disease. It makes 80 per cent of its sales in the U.S. and is making inroads into Australia and Britain.