Small Businesses Are Falling Down Online. Surveys conducted by GoDaddy Inc. revealed that small businesses need to meet the expectations of Gen Zers and Millennials regarding online experiences, particularly around payments. Separate surveys were conducted with consumers and small businesses in the United States. For demographic purposes, Millennials are generally defined as individuals born between the early 1980s and mid-1990s, while Generation Z (GN Zers) encompasses those born between the mid-1990s and early 2010s.
According to the surveys, seventy-three percent (73%) of Gen Zers and eighty-three percent (83%) of Millennials consider a buy online, pickup in-store (BOPIS) option to be important; however, only thirty-four percent (34%) of small businesses offer this feature.
Another notable finding is that fifty-five percent (55%) of Gen Zers and sixty-one percent (61%) of Millennials believe it is crucial to be able to make purchases directly from a business’s website; however, nearly a third (28%) of small businesses do not have an online store.
Tell Your Story
Furthermore, small businesses that share their personal stories online are more likely to attract buyers. Approximately sixty-five percent (65%) of consumers state they are more inclined to purchase if they know the business’s narrative. Unfortunately, one in five small businesses provides these stories on their websites.
Is Your Online Experience Really Convenient?
There is a disconnect between small businesses and Gen Zers and Millennials. While ninety-one percent (91%) of small businesses claim they have a convenient online experience for customers, only twenty-one percent (21%) of consumers and nineteen percent (19%) of Gen Zers agree. Interestingly, seventy-three percent (73%) of Gen Zers and seventy-five percent (75%) of Millennials state that they would shop more at small businesses if offered the same shopping and buying convenience as the larger chain stores.
Lightboxes Reduce Friction
Casey Leloux, CEO of payments provider IntelliPay, says offering a payment experience like Amazon is easy using a lightbox. Lightboxes are pop-ups that float over an existing web page and have the same payment information layout as a credit card. Eliminating a lot of friction in the online experience.
According to Amy Jennette, GoDaddy’s trends expert, small businesses must meet these influential consumer groups’ convenience expectations to avoid losing out on potential business opportunities. As Gen Zers and Millennials continue evolving their preferences beyond what has traditionally been the norm, small businesses must adapt accordingly.
In summary, the surveys indicate prioritizing convenience is essential for small businesses to thrive as Millennials and Gen Zers increasingly replace baby boomers in today’s market. Recognizing and adapting to the changing preferences of younger generations, small businesses can position themselves for success in an increasingly competitive landscape.