Study delivers learnings for small businesses on how to navigate shifting consumer preferences
WALTHAM, Mass., Oct. 20, 2022 /PRNewswire/ -- Today, Constant Contact, a digital marketing platform trusted by millions of small businesses and nonprofits, released its second annual Small Business Now Report, which explores the challenges impacting American small businesses through the lens of today's consumer. Conducted by third-party research firm YouGov, this report features insights from over 1,000 consumers and 500 small businesses. The findings reveal that despite rising inflation and fears of a recession, enthusiasm for supporting small businesses remains strong heading into the 2022 holiday season.
"Our report offers a sense of optimism to small businesses who may be feeling concerned about how the current economic climate will impact their business," said Laura Goldberg, CMO of Constant Contact. "While inflation is certainly forcing consumers to be selective about where they spend, our findings indicate that supporting small businesses is still a priority for them — particularly during the busy holiday season. Now in its second year, our Small Business Now Report delivers insights on how small businesses can tweak their digital marketing strategies to get closer to their customers, finish 2022 on a positive note and prime themselves for a successful year in 2023."
Small businesses are facing a challenging future as they navigate a potential recession, labor shortages and historic inflation. Data from the Small Business Now report suggests they have already begun to feel the impact, but most don't expect a recession will put them out of business.
Consumers are also feeling the squeeze of inflation, and many are starting to reprioritize their budgets. However, results indicate small businesses would remain a priority during a recession.
Constant Contact's report shows that shoppers are getting an early jump on holiday gifting this year. In fact, 36 percent of consumers began their holiday shopping prior to October. Conversely, 51 percent of small business decision makers report they don't begin prep for the holiday season before October. This leaves a short window to properly market their businesses and connect with customers.
Even so, while 40 percent of consumers plan to spend less this holiday season compared to 2021, data also shows significant enthusiasm for community-based engagement.
Findings from Constant Contact's report indicate that email is still the best way to communicate with customers. More than half (55 percent) of consumers that prefer a business use a digital channel to contact them agree email is their preferred way to be contacted by small businesses, and that is immediately followed by SMS/text (17 percent). This illustrates a new opportunity for small businesses to activate their customers and drive more business.
Learn more about the findings from Constant Contact's 2022 Small Business Now Report, including further analysis and recommendations for small businesses, here.
These results are comprised of two separate surveys targeting small-medium business decision makers and consumers. All figures, unless otherwise stated, are from YouGov Plc. The total sample size for small-medium business decision makers (head of a team, group, or small organization and above – aged 18+) was 507. Fieldwork was undertaken between the 9th – 14th of September 2022 and all figures are weighted and are representative of small-medium business decision makers of businesses with 500 or fewer employees. For consumers, total sample size was 1112 adults and fieldwork was undertaken between 16th – 20th of September 2022. The figures are weighted and are representative of all U.S. adults (aged 18+).
Constant Contact delivers for millions of small businesses and nonprofits worldwide with powerful tools that simplify and amplify digital marketing. Whether it's driving sales, growing a customer base or engaging an audience, Constant Contact delivers the performance and guidance to build strong connections and generate powerful results. To learn more visit: www.constantcontact.com.
SOURCE Constant Contact