Constant Contact: 2020 Small Business Survey

After an unforgettable year, we are almost at the end of 2020. According to a survey by Constant Contact, 70% of consumers have purchased products from small businesses every month since the COVID-19 pandemic, either online or in-store. One in five consumers have made this a habit, purchasing at least five times a month. Compared to 2019, 60% of respondents said they have made more efforts to support local businesses this year, and another 20% plan to do so before the end of 2020.

Shoppers care about price and fast shipping, but are still committed to supporting small businesses with their purchases

Shoppers are willing to buy from small businesses, but Constant Contact measured shopping intent to understand what drives people to choose big businesses.

• One in four shoppers said that if given the opportunity to purchase the same product from either a small business or a large retailer, they would always choose the small business.
• Only 5% of respondents said they would always choose a larger retailer.

In a year with record unemployment, it’s no surprise that price sensitivity is a top consideration when choosing to buy from small businesses or other retailers.

• More than 36% of consumers surveyed would choose cheaper products, and price is particularly important for consumers over 55 years old.
• In addition to price, speed is also important. Fast shopping or delivery is the most important thing to shoppers (18%), and consumers aged 18 to 24 rate this even higher than price.

Online small businesses may attract holiday shoppers

The 2020 holiday season will be different than ever before. According to research, there will be plenty of opportunities for small businesses this holiday season if they sell goods online. Consumers' preference for smaller purchases also appears to carry over to the holiday season.

• 71% of respondents plan to purchase items on their shopping lists from small businesses.
• Only 10% of consumers feel they need to go to a physical store to shop.
• Shoppers also appear ready and willing to expand their horizons this year, as 62% of consumers plan to shop at new small businesses that they had never shopped at before in the year.

Will Amazon's decision to hold its "Prime Day Sale" later this year affect other businesses' holiday sales? It turns out that small businesses that don't sell on Amazon don't have to worry.

• More than half of consumers do not plan to buy any holiday gifts on Prime Day.
• One-third of consumers shop elsewhere entirely.

199IT.com Originally compiled from: Constant Contact. Please do not reprint without authorization