The coronavirus pandemic has brought about a massive shift to digital commerce. Consumers who are under stay-at-home orders are going online to manage their professional and personal lives, and the rise in the demand for digital will likely extend much longer than the pandemic itself. But SMB owners remain attached to their pre-pandemic business models, although they recognize that consumers’ expectations are likely to change going forward. All this, Today in Data.
Data:
437: Number of U.S. SMB owners PYMNTS surveyed about how they adjusted operations and how they plan to operate post-pandemic.
66%: Share of SMBs that will rely more on eCommerce sales after the pandemic.
29.5M: Number of consumers who plan to continue working from home after the economy reopens.
38%: Portion of SMBs that plan to reduce the amount of physical store space used to sell products.
25%: Share of Paycheck Protection Program (PPP) applicants who would not survive without those loans.
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