Small Business Retail Attitudes

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Small Business Retail Attitudes

Surveys that show small retail business attitudes towards the desire to have their business online include Shopify 2017 E-commerce Survey, ECWID E-commerce Survey, Feedvisor Study, Etsy Survey, and The State of the Amazon Market Place Survey. You will find more details below.

1) Shopify E-commerce Survey 2017

Shopify surveyed 1,988 subscribers that sell online through its platform. The survey revealed a couple of pain points online retailers have. The survey revealed that the biggest issues to people selling online are marketing related, while they had the best handle on coming up with what to sell online.
The two biggest marketing related issue include:
1) Getting traffic (a rating of 2.53/5, with about 49% of entrepreneurs rating their ability to generate traffic 2 stars or lower.)
2) Converting the traffic into paying customers (2.38/5 rating, with 54% of online retailers rating their ability to convert traffic to paying customers 2 stars or fewer).
3) Retaining Customer and encouraging repeat purchase (2.82/5, with 39% rating their ability to do this 2 stars or fewer).

The survey also found that the biggest online sales obstacles for those selling online on platforms such as theirs include marketing (17.8%), fear (12%), lack of money (11.2%), shipping issues (8.7%), lack of experience/knowledge (7.6%), among others.

In terms of what entrepreneurs struggled with the most when building their online store, the biggest issues include product ideation/development issues (28.2%), lack of money (13.7%), lack of time (11.1%), lack of experience/knowledge (11.1%), fear (7.7%), among others.

2) E-Commerce Survey of 250+ Small Business Owners

ECWID Team surveyed over 250 small business online retailers and the survey revealed that the biggest obstacles they face include lack of time (32%), lack of money (31%), marketing and promotion (27%), lack of knowledge (13%), competitors and lack of recognition (6%), personality (6%), tech difficulties (7%), and lack of customers (7%).

Their top five plans include trying new marketing techniques (68%), launching new products (53%), redesigning website (37%), expanding to other regions (30%), and improving shipping (20%).

3) Feedvisor Study

A study by Feedvisor found that "for 44 percent of brands selling on Amazon, more than half of their total e-commerce sales come from the platform. One-third of the brands (32 percent) selling on Amazon said it accounts for up to three-quarters of their overall e-commerce sales."
They also found that "new customer acquisition is Amazon’s strongest selling point. A significant majority of brands both selling on Amazon (97 percent) and not currently selling on Amazon (84 percent) agree the most compelling benefit to selling on the platform is acquiring new customers."

The study also found that the biggest pain points when it comes to selling on Amazon is competing with Amazon's private label. According to the study, "of the brands selling on the platform, two-thirds (66 percent) concede that competing with Amazon’s private label products is a pain point."

4) THE STATE OF THE AMAZON MARKETPLACE 2018

This is another in-depth study by Feedvisor. They surveyed over 1,200 sellers on Amazon to create the report. About 73% of sellers surveyed have only 1-5 employees, and about 93% of those surveyed have less than 50 employees.

The report has huge data available. The report found that the biggest issues they have with selling on Amazon includes Amazon competing with them (38%), marketplace fee (33%), negative feedback/review from customers (32%), high storage fees (28%), Amazon taking away their seller privileges (24%), other sellers selling their items (22%), among others.

Advertising on Amazon is popular with sellers with 54% using Amazon Sponsored Product and 34% using Product Listing to promote their products.

5) Crafting the future of work: the big impact of microbusinesses

This is a report based on a survey by Etsy of sellers on its platform. The survey found that 87% of its sellers are women and for 53% of them, "Etsy was the first place they sold their goods. Among Etsy sellers with children at home, this number is 56%. " The study found that "creative entrepreneurs gravitate toward Etsy because, as a platform, Etsy has minimized many of the inherent risks associated with starting a business, and in doing so, has allowed creative entrepreneurs to start and grow businesses on their own terms."

"Most Etsy sellers (77%) are businesses of one, and 97% operate out of their homes. Two-thirds of these Etsy sellers prefer to run their creative businesses from home, rather than seek a larger production space. "

The major problem for Etsy sellers is the unpredictable income (income volatility) from sales. Other challenges highlighted by the survey include lack of conventional safety nets such as paid leave, disability insurance, unemployment protection, and worker’s compensation. Administrative burden and challenges with shipping internationally also rank high.
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Sources