01/28/2025 | News release | Distributed by Public on 01/28/2025 20:50
The rise of e-commerce has transformed the retail landscape, and for many small businesses, online marketplaces are a lifeline. A recent TechNet poll, conducted in partnership with Ipsos, reveals that online marketplaces are not just effective at reaching consumers; they're vital for small businesses - reducing costs, driving innovation, and unlocking new opportunities for growth.
Our survey, which polled over one thousand small business retailers, found that nine out of ten believe e-commerce marketplaces are cost-effective. This is significant, as cost control is a constant struggle for small businesses. By leveraging e-commerce marketplaces, small businesses can streamline operations, reduce overhead, and allocate resources more efficiently.
Furthermore, 92% of respondents agreed that online marketplaces make it easier to reach potential customers. In today's hyper-competitive market, visibility is paramount. E-commerce marketplaces provide access to millions of potential buyers, allowing small businesses to overcome geographic limitations and reach a global market.
The benefits extend beyond cost savings and increased reach. Our survey also highlighted that 90% of respondents believe marketplaces provide valuable analytics tools that make it easier to start and build a business. E-commerce gives entrepreneurs a data-driven advantage - helping them better understand consumer behavior, run more effective ad campaigns, and optimize product development.
Perhaps surprisingly, our survey found that the growth of e-commerce marketplaces has actually helped nearly eight out of ten small businesses get their products into physical stores. This demonstrates how e-commerce helps enhance brand visibility and build a strong customer base, ultimately making products more attractive to brick-and-mortar retailers.
The poll underscores the critical role of e-commerce marketplaces in supporting small businesses. They level the playing field, empowering entrepreneurs to compete with larger players and to keep up with the digital age. As technology continues to evolve, we must continue to foster an environment that supports the growth of these marketplaces and enables small businesses to thrive.