Small enterprises – accounting for around 98% of the Australian business market – have pivoted their approach in response to the global COVID-19 pandemic, with nearly half having shifted their business towards online.
Studies show that clear shifts in consumer lifestyle, the transition to a more remote working environment, and the economic impact of the pandemic were the driving force behind the change, with most taking their operations, sales, and marketing into the digital space.
Even before COVID-19, online retail had emerged as a way forward for many businesses. This is not a new approach. What it is, however, is a further reflection of the adaptability of small businesses across the country – the ability to see the need for change, and act swiftly to make it happen.
1 in 3 established a new website. A quarter added e-commerce functionality to their existing site. 46% became more active on social media.
While not an untapped and unquestioned golden ticket to success, solidifying online presence has proven a useful tool in the Coronavirus aftermath.
Sure, the bigger picture requires a strategic plan and collaborative approach which takes into account scaled spending increases and consistent consumer communication, but the digital-centric approach many small businesses have taken is sure to hold them in good stead.