Ecwid E-commerce Releases U.S. Small Business Holiday Forecast
Ecwid E-commerce, a leading global software-as-a-service (SaaS) e-commerce company, unveiled the findings from a survey of U.S. small businesses’ holiday shopping strategies and expectations. The inaugural U.S. Small Business Holiday Forecast includes survey data from over 190 small businesses— revealing that three quarters believe the COVID-19 pandemic impacted their typical holiday plans.
Ecwid E-commerce is an established multichannel e-commerce solution, powering hundreds of thousands of small businesses worldwide, enabling them to move online effortlessly and with little to no cost. Ecwid E-commerce uniquely understands what it takes to help a new generation of small businesses adopt online tools during an unprecedented surge in e-commerce spending. Following several months of pandemic-induced quarantines and store closures, small business owners are now challenged with adopting new strategies to face one of the busiest shopping seasons of the year.
Marketing Technology News: eGain Modernizes IVR Engagement with AI, Digital, and Analytics
Key findings on holiday expectations from these business owners include:
- 41% of merchants expect sales to be higher for the holidays
- 76% of merchants said that the COVID-19 pandemic affected their holiday plans (45% of these merchants say significantly)
- 55% of merchants plan to move up shipping deadlines to account for delays
- 73% and 70% of merchants will rely on email and organic social media respectively to advertise
Marketing Technology News: Medallia Launches Virtual Fan Experience Dashboard for Vendée Globe
The COVID-19 pandemic pushed large numbers of small businesses to migrate online, many for the first time. Merchants were tasked with adapting to new expectations around providing safer and more convenient online shopping experiences, while in-store traffic waned. During the height of temporary store closures, Ecwid E-commerce witnessed a 300% increase in new signups as small businesses digitized their storefronts. As consumers grow accustomed to the convenience of localized online shopping, and merchants expand their customer base beyond their communities, COVID-19 has accelerated trends across SMB e-commerce adoption.
“After enduring one of the toughest economies in recent history, U.S. small businesses are tasked with recouping significant losses this season. Small businesses nationwide are preparing for the busiest, most digital, and most impactful holiday season yet,” said Ruslan Fazlyev, Founder and CEO of Ecwid E-commerce. “This research demonstrates that while small businesses are optimistic about holiday sales, owners are still challenged to provide lucrative and engaging holiday experiences with fewer resources across an extended holidays season. Creativity and careful planning will decide which businesses flourish this season and as we head into 2021.”
Marketing Technology News: Digital River and Tryzens Announce New Partnership