57% of micro and small businesses are committed to combining online and physical sales, reveals GoDaddy study
The GoDaddy Entrepreneurship Survey 2021 reveals that 6 out of 10 entrepreneurs ventured into online sales due to the pandemic, but will not give up their physical stores
This week, web hosting company GoDaddy Inc. revealed the results of its 2021 Entrepreneurship Survey , on how the Covid-19 pandemic prompted micro and small businesses to adapt to digital business models. Among the results, it stands out that 57% of these are committed to combining online sales with those of their physical stores .
The study was conducted during August 2021 by the Scout research firm and analyzed 300 participants in Mexico and more in Colombia. The group included entrepreneurs (one person), micro-business owners (up to 10 employees), and small business owners (11-25 employees).
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The survey showed that Mexican entrepreneurs turned to new sales channels to overcome the crisis and continue to integrate online tools into their businesses.
"Mexican entrepreneurs continue to demonstrate their adaptability and drive to advance and prosper. Digitization is crucial in today's changing environment, and with the right digital tools and partners, these companies can be increasingly confident that a business digital is the best way to navigate the current economy and into the future, " said Héctor Pérez , CEO of GoDaddy Mexico in a statement.
45% of the small businesses surveyed in Mexico were created in the last two years, that is, they were established just before or during the pandemic. Of these, 6 out of 10 started selling online as a result of the health crisis, while 57% will maintain a joint strategy of physical stores and online sales .
Social networks are key to ecommerce
GoDaddy's analysis found that companies use two to three customer service channels. The most used by entrepreneurs to contact consumers are social networks (87%) , followed by WhatsApp (84%) .
More than half of the participants consider that the use of social networks (65%) and the creation of their own digital store (63%) are important for the strategic growth of a company. 74% considered that advertising on social networks is the best strategy to increase their digital sales.
Image: Courtesy GoDaddy.
81% of those surveyed said they prefer to sell through a website or online store . In fact, selling exclusively online is the preferred medium for people between the ages of 18 and 34, according to the study.
Regarding the means of payment, a devastating 93% considered that payments by credit or debit card are the most important method in ecommerce, followed by payments in convenience stores such as Oxxo or 7Eleven (38%).
“Micro and small businesses are and will continue to be the pillar of the Mexican economy. Listening to them, observing their achievements and understanding their needs is necessary to create solutions that help them grow, create and manage their online business " , concluded the CEO of GoDaddy Mexico.