A new study from Visa indicates that, while brick-and-mortar shopping will still be important during the holiday shopping period, digital efforts will be critical for the season and beyond.
The stakes are huge. According to the latest Back to Business Holiday retail report, 88 percent of consumers plan to buy and give gifts this season, despite the coronavirus pandemic. Nearly half of consumers plan to do most of their shopping in-person, at 48 percent, compared with the 26 percent who will primarily rely on e-commerce. Twenty-six percent plan on an equal mix of live and online.
Clearly small- to medium-size businesses, or SMBs, can’t afford to overlook Internet sales. And more have gotten that memo, particularly during the coronavirus era. Eighty-two percent of SMBs report that they’ve gotten online within the past year. Seventy-nine percent established an online presence over the past one to five years and 66 percent got