The Local Market is Changing

Challenge

Major Canadian cities have seen an influx of immigration over the past several years, with minority group populations outpacing Canada's overall population growth. To gain access to these potential consumers, companies are faced with the challenge of building networks and relationships with customers of diverse cultures.

The following facts and accompanying graph use Toronto demographics that are also indicative of the immigration growth nation wide.

Facts

• In 2001, 44% of the GTA population was born outside Canada, representing over two million consumers.
• Italian, Chinese, Portuguese and South Asian native language speakers spend more than $25.1 billion per year in the GTA alone.
• The Canadian Chinese community grew 26% from 1996-2001. Over the same time, Canada's overall population grew 4%. (New Immigrants Landed in Toronto in 1991 - 2001 Source: Statistics Canada 2001 Census)
• In response, employers should consider:
• Understanding new product and service needs and opportunities in ethno-specific markets.
• Increasing their cultural competence for stronger competitive advantage in local sales.
• Improving their reach and relationships with local communities and networks.
• Hiring staff with multilingual capabilities

Opportunity

Skilled immigrants may prove to be valuable resources for understanding product and service needs in ethno-specific markets. They may also provide a competitive advantage by improving networks and relationships, by speaking a variety of languages and by adding diverse perspectives, experiences and skills sets to the workforce.