The small business owners of today face unique challenges when operating an online store as a primary component of their overall business. Those looking to create an online store have some learning ahead of them. Only 24% of respondents are confident in their knowledge of building an online store. 

Creating an online store is just the first step. The next step? Figuring out how to implement it. 

• 30% of respondents reported difficulty attracting relevant or high-quality traffic to their website 
• 25% reported finding the appropriate target audience or market was a challenge
• 25% cited search engine optimization as difficult
• 24% said remaining competitive with other businesses on shipping and pricing was a concern
• 23% reported data security as a challenge, given the complexities of online data storage and protection.

Is 2020 The End of Physical Stores?

As many small business owners shift their attention online, it’s interesting to see what the future holds for brick and mortar stores. Is this a small hiccup in the grand scheme of things or an unprecedented change with a lasting impact?

Respondents see their online sales playing a larger role in the upcoming year than traditional in-store interactions. Three in four (75%) of small business owners predict their online sales will increase in 2021. 

Even more telling is how respondents with brick and mortar locations feel about this physical component of their business. Nearly half of small business owners (48%) report no need for a physical store. Furthermore, only 20% of respondents plan on reopening a physical location for their small business within the next year.