Many SMBs are ramping up their digital presence following lockdown technology
To tackle changing consumer expectations during lockdown, many retail SMEs are ramping up their investment into digital technologies.
This is according to a new report from Direct Line business insurance, which claims more than half (52%) either invested in new tech services, or increased their online presence in these past year and a half.
Almost all retail SMEs (85%) also said they’d be keeping the digital services and products they introduced during the pandemic. Half (52%) said increasing their digital footprint in the next six months was already in the pipeline, with a sizeable number promising to introduce “bold new virtual offerings”.
The report claims that retail SMEs now see technology as “fundamental” to business success. Some used it to reach new customers, while others wanted to meet rising customer expectations.
Online delivery and digital marketing
Of all the different things they’re tackling, retail SMEs are mostly focused on online ordering systems and deliveries (27%), and digital marketing (16%). These changes weren’t cheap, either. The average SME spent between $1,300 and $6,900 to launch a new digital service or product.
The findings also echo a recent Salesforce report, which polled 2,500 SMB owners and leaders across the Americas, Europe, and Asia Pacific, discovering that going digital helped 71% of SMBs survive the pandemic.
Salesforce’s report says most successful SMBs worked on gaining customer trust and enabling their employees to work remotely. Almost three-quarters (72%) have an e-commerce presence, with a third (35%) adding it within the past year.
At the same time, 95% of growing SMBs made sure their company data, including customer information, was safe from cyberattacks. Direct Line business insurance’s report speaks differently, though, saying 45% of decision-makers didn’t feel cybersecurity was a risk to their business.
As a result, the report claims, only 23% invested in cyber-insurance.
To tackle changing consumer expectations during lockdown, many retail SMEs are ramping up their investment into digital technologies. This is according to a new report from Direct Line business insurance, which claims more than half (52%) either invested in new tech services, or increased their online presence in these past…
Recent Posts
- Quordle today – hints and answers for Sunday, May 19 (game #846)
- Blue Origin’s first crewed launch since 2022: Where to watch
- This modder proves everything’s better with a GBA SP screen attached
- Mobile industry is quietly preparing for the biggest change to your smartphone in a decade — iSIM will hasten the end of SIM cards and allow networks to preload plans on devices
- Replacing the OLED iPad Pro’s battery is easier than ever
Archives
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011