A growing percentage of revenue generated by small retailers is being derived from eCommerce transactions. This trend is expected to continue over the next 12 to 24 months, according to a nationwide poll conducted by the Small Business Research Board (SBRB).
The study revealed that more than 40 percent of small retailers said they were generating a portion of their revenue as the result of eCommerce transactions. Of those small retailers with Internet sites, more than 65 percent said they are generating revenue from products and services sold on their websites.
More than 96 percent of those same retailers believe their Internet sales will remain the same or grow during the next 12 to 24 months, with nearly 40 percent expecting the sales to increase. Small retailers were the most optimistic about the future of the Internet among all industries contributing to the poll.
Nationally, of all small businesses studied, 96.7 percent said they expect Internet revenues to increase or stay the same during the next 12 to 24 months. Nearly a third predicted increases.
Of the industries studied, manufacturers led all business categories in their commitment to the Internet with 67.2 percent indicating they have at least one website. Transportation companies followed with 63 percent. Small retailers were next, with 62.5 percent.
Nationwide, 42.7 percent of the respondents said they did not have a website, compared with 47.3 who said they did. 9.1 percent said they had between two and ten websites.
In addition, 56.1 percent of small businesses with websites said they sell products and services on a company owned site. Owners and managers of more than 550 small businesses, representing numerous industries, responded to the nationwide study.
The report also found that of those small retail businesses with internet sites, 40 percent said that up to 25 percent of its products are available for sale online. Another 29.1 percent said that between 26 and 100 percent of their products could be purchased on line.
Among retail companies with Internet sites, more than 25.4 percent said that between 26 and 100 percent of their overall revenue came from eCommerce initiatives.
For more information on SBRB, visit www.biznus.net.
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