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We asked more than 3,200 small and medium-sized enterprises (SMEs) in the food, restaurant, and retail industries across 9 European and African countries about their challenges, how they tackle ever-changing consumer behavior and how they can become more agile and competitive to thrive in a world of high inflation, lower consumer spending, and increased macroeconomic risks.
This is what the study revealed.
Note: The study was done in cooperation with renowned research organisations between September and November 2022.
Businesses stated that they are still adapting to post-pandemic times and are struggling in the current environment. SMEs today are coping with digitisation and reaching new customers. They are fully aware of the reality that customers want personalized services and that they live in a digital world resulting in a landscape where SMEs need to meet high expectations.
46% of businesses across all regions say they are in survival mode*
*Percentage of businesses saying they are in survival mode
SMEs strive to become more agile and digital in response to the change in consumer behavior. In order to gain a competitive advantage, they have no choice but to test different strategies.
Following the pandemic, businesses remain optimistic that platforms like Glovo are able to support them by providing the necessary resources that will allow them to reach their full potential. The sprint for being competitive and attractive to customers in a crowded marketplace is a race that is not easy to win. Businesses are generally open towards partnering with a technology company and see an added value in helping them succeed in a digital world.
46% of respondents see potential for a technology partner to help their business innovate and scale*
*Percentage of businesses replying “A technology partner/platform would help my business innovate and scale” when asked about what would help their business stay relevant and competitive
With consumers wanting a more personalized and digital shopping experience, the economy of now is the new reality. Consumers do not want to wait for their products to be delivered and local availability is key.
While technology partners can support SMEs in their marketing and growth efforts, platforms like Glovo that operate as an interface between partners, couriers, and customers can greatly complement business logistics.
Reaching new customers is one of the main challenges for 34% of SMEs*
*Percentage of businesses saying reaching new customers is one of the biggest challenges
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