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Small business bets big on e-commerce

A recent survey conducted by PYMNTS Intelligence has illuminated the strategic significance of online channels for small businesses, with a staggering 80% of these enterprises integrating at least a basic e-commerce site to boost sales and broaden their customer outreach.

Small business bets big on e-commerce

This survey, encompassing insights from 540 businesses, underscores the pivotal role that e-commerce plays in the growth and sustainability of small businesses, particularly in an evolving retail landscape where e-commerce sales have surged to a remarkable $793.7 billion, constituting 15% of total retail sales in the first three quarters of the current year.

In the competitive landscape of Main Street, USA, where small to mid-sized businesses (SMBs) operate, the adoption of e-commerce is viewed as crucial for the very viability of their presence in the marketplace. The data reveals not only the widespread adoption of online channels but also a keen interest among an additional 16% of small businesses that are considering the implementation of e-commerce strategies.

Delving further into the statistics, the survey indicates that, on average, half of a small business's sales are now generated through online channels, underlining the transformative impact of e-commerce on traditional business models. Notably, Main Street retail SMBs lead this digital shift, with an impressive 54% of their sales attributed to online channels.

The preference for online operations extends to the tools small businesses leverage, with websites and social media platforms emerging as primary means to support e-commerce endeavors. Retail businesses, in particular, heavily rely on these online channels to engage with their audience and drive sales.

As the digital landscape continues to reshape the retail industry, small businesses recognize the imperative to embrace and capitalize on online channels. The survey findings underscore a collective acknowledgment among small businesses that e-commerce is not just a trend but an essential component for sustained growth and competitiveness in the contemporary marketplace.

As they navigate the intricate dynamics of the digital age, small businesses on Main Street are actively shaping their strategies to leverage the power of e-commerce for a robust and resilient presence in the retail ecosystem.