The KPMG survey of 250 business leaders identified comprehensive tax reform as a top three priority for the federal government to increase business competitiveness.
Given ongoing trade uncertainty, 76 per cent of business leaders are bracing for the worst and taking steps to prepare for a Canadian recession, says KPMG.
It's clear that the death of the physical location had been exaggerated, with six in 10 Canadians still mostly shopping at brick-and-mortar stores and finding the online shopping experience frustrating, said KPMG.
A recent KPMG survey revealed that nearly half (44%) of Canadian businesses are already reconfiguring their supply chains to divert U.S.-bound exports through third-party countries.
The uncertainty around U.S. trade policy has had Canadian companies rushing to find ways to mitigate their risk and tariff-proof their organization, says KPMG.
The report says that Canadian retailers are improving blending online and in-store with a majority of Canadians preferring an in-store experience, necessitating seamless channel integration.
The Retail Pulse Dashboard is a new interactive platform that delivers pertinent, relevant and important statistics on Canadian retail sales, retail job numbers, economic data, and consumer spending.
Consumers are now expecting online experiences to be as good or better than those in store, and failure to live up could lead to loyalty shifting to other retail brands.