Q4 2023: eCommerce Protects Main Street SMBs’ Bottom Line in a Cooling Market

eCommerce Fuels 2024 Optimism for Main Street Small Businesses

Although only 38% of Main Street SMBs that sell mostly in physical stores think their revenues will grow in 2024, that share rises to 57% for those who sell mostly online, and 61% that have an even split between eCommerce and physical locations, according to PYMNTS Intelligence’s latest study of 540 SMBs, “Main Street Health Survey Q4 2023: eCommerce Protects Main Street SMBs’ Bottom Line in a Cooling Market,” a collaboration with Enigma.

Inside the December Report
  • 36%: Portion of Main Street SMBs citing expanding customer reach as the most important reason to use online channels
  • 55%: Share of Main Street SMBs that say competitive pressure was an important reason for selling online
  • 45%: Portion of Main Street SMBs that say security issues is challenge firms face when selling online

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    Enigma Main Street Health Report Series

    Q3 2023: Leading Payment Processors Satisfy SMBs, but Less Popular Providers Are Vulnerable
    Q2 2023: Credit’s Key Role in SMBs’ Plans
    Q1 2023: Using Finance to Ease Recession Fears