150 small and medium-sized companies shared the data
According to Ecommerce News, up to 1 in 5 companies had a sales growth of at least 40%. Nevertheless, these companies also faced several challenges.
It has been a successful year for many online businesses despite the fact this year was marked by the COVID-19 pandemic.
This way, Sendlane surveyed 150 small and medium-sized companies to get an idea of the current e-commerce market. The report has found that 92% of them saw their sales rise.
For 21% of SMB companies, sales were up by at least 40%. Meanwhile, 34% of the companies saw a sales increase of 10% to 20%, followed by 33% who had an increase of 20% to 40%.
In addition to a rise in sales, profit margins grew rapidly as well. Up to 90% of the companies surveyed had an increase of 10% or more in overall profit. Most companies expect that these trends will continue.
Besides, up to 93% expect sales to rise, with 28% expecting a growth of at least 40%. A majority of 92% also expect that their profits will grow, with 24% predicting a 40% increase.
With the increase in sales and profit, it’s not surprising that companies also saw a rise in their traffic. A majority of 90% reported an increase of 10% or more. However, website traffic seems to have stabilized with the increase of e-commerce purchases. Promotions and sales are no longer big drivers, rather than waiting, consumers are shopping on e-commerce sites regularly.
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