Gen Z and Millennials to Small Businesses: Get Online or Get Left Behind
Maintaining an online presence is important to small businesses, but is it necessary? According to new data from GoDaddy (NYSE:GDDY), if a business's target audience is Gen Z or Millennials, not having one could seriously impact their bottom line.
A majority (80%) of 1,000 Gen Z and Millennial U.S. consumers surveyed in September shared they research small businesses online before shopping with them for the first time. They are taking extra steps to verify the credibility of a business by checking their reviews, website and social media accounts.
This new cohort of younger consumers largely aligns on the reasons they would not purchase from a business's online store. For example:
More than half (56%) said a lack of reviews would make them not shop with a new small business
Nearly 4 in 10 (36.5%) stated a business not accepting their preferred method of payment would deter them from shopping at a new small business
3 in 10 (32.5%) indicated not including contact information on a website discourages them from purchasing from a new small business
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