Recovery depends strongly on reaching multicultural Canada, research shows
TORONTO, June 26, 2020 /CNW/ – New research shows how important it is to understand diverse, multicultural Canadians to strengthen the post-COVID-19 economic recovery.
The research — a new survey of nearly 1,000 Canadians during the height of the pandemic — shows significant variations between South Asian Canadians, Chinese Canadians and the general population in what people hope to or intend to purchase now and after the lockdowns end.1
Among the distinctions:
Canadians from diverse communities are more concerned than the general population about the quality of Canada’s online services, about crime, about managing online banking — and about racism.
In the coming year 14 per cent of South Asians and 12 per cent of Chinese Canadians say they’re likely to buy a house or condo — and significantly more plans to move by downsizing, upsizing or buying a first home
South Asian and Chinese Canadians buying patterns are often different from the general population — for example, approximately one in five South Asians plan to buy smartphones, laptops, tablets or TVs in the next 12 months
Manufacturers, retailers and the auto industry should take notice — about one in five South Asian and Chinese Canadians say they’re likely to renovate their homes or buy vehicles within the year
Grocers and food producers should pay attention too — South Asian and Chinese Canadians are quite specific about what household and grocery items they prefer and plan to buy, in many cases more specific than the general population
Saving, investing and insurance-buying patterns are significantly higher for South Asian and Chinese Canadians
“This survey offers important in-depth insight into key consumer patterns among Canadians during an unprecedented time,” says Bobby Sahni, Partner and Co-Founder of Ethnicity Matters, which commissioned the research.
“To us, the research offers three important messages. One, South Asian and Chinese Canadians will be key to our recovery. Two, businesses will benefit if they recognize and celebrate the distinctions among different multicultural communities,” says Howard Lichtman, Partner and Co-Founder of Ethnicity Matters.
“And thirdly, businesses will do well to keep their eyes on what diverse communities say they want — types of groceries and home products, electronics, cars and trucks, homes, renovation materials and financial services including insurance,” Lichtman said. “Those wants and needs are likely going to be at the heart of the post-COVID-19 recovery.”
Socially distant interviews available!
Ethnicity Matters is Canada’s leading authority in multicultural marketing and communications. We are a full-service business solutions company, dedicated to driving sales and growth for clients by connecting them to the flourishing ethnic and new immigrant communities, both at home and around the world. For more information, visit EthnicityMatters.com
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1 Survey was conducted April 13-27, 2020 among 900 respondents within Canada — 300 from South Asian and Chinese communities and general population respectively. The margin of error for the general gopulation, South Asians, Chinese respondents (at a 90 per cent confidence level) is plus or minus 4.75 per cent for each
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
