3 Insights for SMB Retailers Navigating the "New Normal"
Survey Reveals Key Challenges and Priorities for SMB Retailers
June 06, 2022

Erin Jaibur

Between the impact of COVID-19, shifting customer demands, and a surge in digital transformation, small to midsize business (SMB) owners in retail have been faced with great change in the last couple years. To find out just how much these disruptions have impacted retailers, we surveyed key thought leaders and decision makers at SMB retail companies located throughout Australia, Canada, the United Kingdom, and the United States.

The results identified both the critical challenges faced by SMB retailers and the tech initiatives they're implementing to offset those challenges. Based on our data, we've parsed out three key findings that will help small business owners navigate the new normal.

1. The customer is still king

After asking respondents to rank their most pressing concerns, customer-related challenges were front and center: 46% of respondents put keeping pace with shifting customer expectations as one of their top three concerns while 43% of respondents put maintaining customer loyalty as one of their top three concerns.

The customer has always been king, but in today's retail landscape, it's imperative to meet customers where they are by creating a seamless and consistent omnichannel experience.

2. Brick and mortar makes a comeback

Though the pandemic accelerated digital transformation and online shopping, it also created a new thirst for the in-store experience. Recent projections from Insider Intelligence show global brick and mortar spending surpassing e-commerce spending by almost $100 million this year.

Our survey data corroborates this forecast, with 56% of respondents saying they're currently revamping or have plans to revamp the in-store experience they provide. And that's in addition to the 29% of participants that have already done so!

3. Integration and automation are the future

Many SMB retailers implement API platforms to integrate their systems and EDI solutions to connect with trading partners and create seamless customer touchpoints. Integration is also a key enabler of process automation, which allows retailers to operate far more quickly, efficiently, and cost-effectively. Retailers are acknowledging the need to integrate and automate, with 70% of respondents agreeing that hyperautomation is critical for retail success and 56% saying that they are currently automating manual processes.

It's clear that the experience today's retail customers demand is more complex than ever before. To remain competitive, retail companies need to provide seamless service across channels; a fully integrated and automated IT environment is the key to making this a reality.

Erin Jaibur is Content Marketing Manager at Jitterbit
Share this

Industry News

April 23, 2024

mabl announced the addition of mobile application testing to its platform.

April 23, 2024

Spectro Cloud announced the achievement of a new Amazon Web Services (AWS) Competency designation.

April 22, 2024

GitLab announced the general availability of GitLab Duo Chat.

April 18, 2024

SmartBear announced a new version of its API design and documentation tool, SwaggerHub, integrating Stoplight’s API open source tools.

April 18, 2024

Red Hat announced updates to Red Hat Trusted Software Supply Chain.

April 18, 2024

Tricentis announced the latest update to the company’s AI offerings with the launch of Tricentis Copilot, a suite of solutions leveraging generative AI to enhance productivity throughout the entire testing lifecycle.

April 17, 2024

CIQ launched fully supported, upstream stable kernels for Rocky Linux via the CIQ Enterprise Linux Platform, providing enhanced performance, hardware compatibility and security.

April 17, 2024

Redgate launched an enterprise version of its database monitoring tool, providing a range of new features to address the challenges of scale and complexity faced by larger organizations.

April 17, 2024

Snyk announced the expansion of its current partnership with Google Cloud to advance secure code generated by Google Cloud’s generative-AI-powered collaborator service, Gemini Code Assist.

April 16, 2024

Kong announced the commercial availability of Kong Konnect Dedicated Cloud Gateways on Amazon Web Services (AWS).

April 16, 2024

Pegasystems announced the general availability of Pega Infinity ’24.1™.

April 16, 2024

Sylabs announces the launch of a new certification focusing on the Singularity container platform.

April 15, 2024

OpenText™ announced Cloud Editions (CE) 24.2, including OpenText DevOps Cloud and OpenText™ DevOps Aviator.

April 15, 2024

Postman announced its acquisition of Orbit, the community growth platform for developer companies.

April 11, 2024

Check Point® Software Technologies Ltd. announced new email security features that enhance its Check Point Harmony Email & Collaboration portfolio: Patented unified quarantine, DMARC monitoring, archiving, and Smart Banners.