Small businesses have found much-needed support from their local communities, helping them stay afloat despite the economic crisis brought about by the COVID-19 pandemic.
The nbn™ Behavioural Change Survey – that looked at how attitudes to, and engagement with, local business and eCommerce have changed as a result of COVID-19 – reveals that 49 per cent of respondents have increased online shopping during this period. And, most importantly for the small-business sector, 70 per cent said they now consciously supported local businesses online and would like to support more local businesses. In a challenge to the sector, the survey found that even more people would support their local business if those outlets had a more visible online presence.
“The challenges businesses have faced as a result of this crisis are many and significant, however, this research highlights a unique opportunity for local businesses to harness new levels of consumer goodwill and demand online,” Paul Tyler, Chief Customer Officer – Business, at NBN Co said
” An online presence can expose businesses to a world market, but the support of local consumers also offers an important opportunity.
“Our research highlights that consumers are shopping more online and consuming from local businesses as a result of their experience with COVID-19 social distancing measures,” Tyler added. “I hope that this sentiment can become an opportunity for local businesses to adapt and emerge from this time in a position of strength.”
The Australian Chamber of Commerce and Industry has conducted its own research that indicates many businesses are already adapting to online operations.
Dr Ross Lambie, Chief Economist at the Australian Chamber of Commerce and Industry said, “Our recent national business conditions survey found that many businesses have adapted their operations to continue trading during the pandemic crisis, with almost a third expanding their online presence, and a quarter changing their mode of delivery or diversifying into new product lines and services.
“These new insights reinforce the importance of businesses developing a digital strategy and online presence. It’s certainly encouraging to hear that so many Australians are eager to support the local businesses in their community and this should provide even more incentive for businesses to meet that demand online,” Lambie concluded.
