Small retail businesses are losing potential customers because they lack the tech-driven convenience Gen Z and Millennials expect, according to two surveys conducted by GoDaddy.
A whopping 91 percent of 1000 U.S. small business survey respondents feel they offer customers a convenient online experience. However, only 21 percent of consumers—and just 19 percent of Gen Z—feel that’s the case.
“Consumers are ultimately looking for convenience, and if small businesses aren’t meeting these expectations, they’re likely losing business,” said GoDaddy Trends Expert Amy Jennette. “… The most important thing is that small businesses are adapting as Gen Z and Millennial preferences evolve beyond what’s been the status quo.”
Overall, while small businesses identified Gen Z and Millennials as top target audiences, their current practices tend to cater more to older generations. But there’s still an opportunity for entrepreneurs to earn younger consumers’ business. Nearly three-quarters of Gen Z and Millennials say they would shop more at small businesses if they offered the same convenience as larger chain stores.
Moving into 2024, small businesses should aim to work smarter and lean on technology designed to make meeting these consumer preferences easier, the survey’s authors conclude.
Click here for more from the surveys.