The report reveals that there is a robust desire for investment in eCommerce technology among small businesses in the US.
KETTERING, Ohio, March 8, 2023 /PRNewswire-PRWeb/ -- Thrive Analytics, a leading research and analysis firm, has released a new report on US small business investment in eCommerce technology. The report, titled "2023 SMB eCommerce Technology Investment Outlook," highlights the strong demand for eCommerce technology among small businesses and the growing trend towards digital transformation.
According to the report, 41% of small businesses with websites are increasing or significantly increasing their 2023 budget for eCommerce platforms, while only 26% are decreasing their budgets in the face of economic uncertainty. The investment is aimed at improving the customer experience and boosting sales, as small businesses recognize the need to have a strong online presence and a seamless eCommerce platform to meet the demands of their customers.
The report also found that nearly half of the small businesses with websites have eCommerce functionality, representing approximately 10 million small businesses in the US. Much of this growth was driven as a direct result of the pandemic, and many small business owners indicated they are in it for the long term. Only 15% have or are planning to drop services they obtained during the pandemic.
However, the report also highlights some notable eCommerce challenges faced by small businesses, including the struggle to keep up with new technology, payment processing issues, and difficulties in managing content and utilizing multiple vendors for services.
To address these challenges, small businesses plan to prioritize investments to upgrade basic functionality, such as payment improvements, monitoring performance, and expanding delivery options.
"Small businesses are recognizing the importance of eCommerce technology to stay ahead and capture a larger market share," said Jason Peaslee, Managing Partner of Thrive Analytics. "Our report shows that investment in eCommerce technology is strong, and small businesses are committed to investing in the long-term success of their eCommerce operations."
The "2023 SMB eCommerce Technology Investment Outlook " report is available to Thrive Analytics' clients or is available for purchase.
About Thrive Analytics
Thrive Analytics is a leading research and analysis firm that helps businesses make data-driven decisions. With a focus on technology and marketing, Thrive Analytics provides insights and strategies to help businesses thrive in today's digital world.
Media Contact
JASON PEASLEE, Thrive Analytics, 9372124355, [email protected]
SOURCE Thrive Analytics
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