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Analysis Of The Canadian Economy In 2023 According To helloDarwin’s Data

Posted in Commentary with tags on December 21, 2023 by itnerd

helloDarwin, the innovative platform connecting businesses and suppliers, unveils the major trends shaping the industry in 2023. With a thorough analysis of data gathered from its 13,000 projects since its inception in 2017, helloDarwin provides an insightful overview of the  developments that will mark this year.

Companies tighten their belts

A telling trend: while the volume of exchanges between customers-demanders and suppliers-bidders is clearly up, by 24.69%, dollar investments are lower.

Sectors in demand among Canadian companies: digital transformation

Growth in sectors or expertise most in demand  

+ 71.49% of requests for transactional website projects

+ 60.80% of requests for digital marketing projects

+ 25.25% of requests for hiring external consultants 

+ 24.56% requests for external human resources expertise

Decline in certain sectors

– 69.70% fewer requests for print marketing services 

– 28.26% fewer requests for video production services 

– 15.79% fewer requests for graphic design services

The digital marketing, IT, software management, marketing strategy and website creation sectors were all on the rise in 2023 compared to 2022. In 2023, the acceleration of digital transformation was particularly noticeable, reflecting companies’ growing awareness of the need to adapt to the demands of the post-COVID market. 

Increased use of consultants

In an uncertain economic climate, companies are finding it difficult to recruit talent internally. As a result, there has been a marked increase in the demand for consultants.

Boom in subsidies and external funding

The use of grants is growing exponentially, with a 49% increase in the number of projects financed partly or wholly by external funding. Programs such as the Canadian Digital Adoption Program (CDAP) and ESSOR offer crucial opportunities for companies seeking digital transformation. Jeff Carrier says: “Grants are not simply funding, but a strategic opportunity for companies to realize their full potential.”

Outsourcing specific tasks

An emerging trend reveals that companies are now outsourcing specific tasks in the form of “boutique outsourcing”. This approach, in collaboration with in-house resources, enables targeted mandates to be fulfilled efficiently.

Increased competition and aggressive acquisition strategies

helloDarwin notes increased competition on its platform in 2023, with the average number of applicants per project up 38.49% on 2022.

Another new feature for 2023 is that major marketing, advertising and communications agencies and clients across Canada are now interested in helloDarwin’s services in large numbers.

Highlights in brief

  • 24.69% growth in the number of projects submitted in 2023 compared with 2022. 
  • 32% decline in dollar investment per customer-supplier transaction in 2023.
  • Average number of applicants per project increased by 38.49%. 
  • 6000 suppliers are active on the helloDarwin platform.