What’s the ROI of Caring for Existing Customers

As of March 2020, there are 30.7 million small businesses in the U.S. An average of 543,000 new businesses open monthly. With this trend, the figures can go as high as over 6.5 million annually.

The Effect of COVID-19 on the Business Landscape

One in 12 businesses closes annually and the reasons are largely personal.

Approximately 4.2 million businesses received emergency loans from the SBA, but what about the 26 million small businesses?

Small business owners stated that the financial rescue provided by the Congress is not designed well enough to assist micro-firms or businesses with large overhead costs, such as rent.

The Rise of Ecommerce During the Pandemic

Necessary lockdowns and stay-at-home orders reduced the demand for nonessential goods, resulting to the closure of brick-and-mortar stores

The good news, e-commerce is projected to grow 18% after a 14.9% gain in 2019.

An advantage e-commerce has versus physical stores is reduced contact, and that’s possible with online purchases, which more consumers prefer.

eMarketer projected a growth to $58.52 billion U.S. click-and-collect e-commerce sales…