In new survey data from Glovo, European small businesses are not as optimistic as the data I’ve reported from American business owners. 46% of businesses across all seven countries surveyed say they are in “survival mode.” Quoting the next web.
According to studies, consumer behavior has changed considerably over the last couple of years, indicating a preference for digitalized services, whether online shopping or food deliveries. Glovo’s survey also found that 42% of SMEs surveyed believe their customers’ digital experience is becoming more important than the in-person experience.
Comparatively, nearly half of all businesses that were already digitized before the pandemic and continue to be have experienced slow but steady growth in the past 2-3 years. They also expect significant growth in the next 12 months.
And while one-in-three UK businesses see digitalization as integral to growth, two in three still say they need help to become technologically innovative.
International stories are the theme today, and I want to observe how geography impacts outlook. The European markets are facing higher inflation and higher energy costs, and thus much more costly on the expense side.
Let’s also note this – as a general observation, Americans tend to be much more optimistic when reporting outlooks. It’s a natural disposition. Thus be warned about an inherent willingness to be optimistic.
Now, the final observation – those businesses who invest in digital are outperforming.