Mobile payment provider Square is revealing the U.S. cities where it is seeing the biggest percent increase in new sellers moving online in response to COVID-19.
According to Square, which specializes in enabling mobile payments for small-to-mid-sized businesses (SMBs), Albuquerque, N.M., led all U.S. cities with online sellers using its platform increasing 8x in March and April compared to the first two months of 2020. The full top 10 list is:
1. Albuquerque, N.M. – 8x
2. Durham, N.C. – 6x
3. Portland, Ore. – 6x
4. Minneapolis – 6x
5. Richmond, Va. – 6x
6. Philadelphia – 6x
7. San Francisco – 6x
8. Denver – 6x
9. San Jose, Calif. – 5x
10. Kansas City, Mo. – 5x
In addition, according to David Rusenko, Square head of e-commerce, SMBs considering digital retail should keep three factors in mind.
1. Selling in more than one channel is necessary, and hard. As consumer expectations shift, sellers need to respond by being present wherever their customers expect them. However, sellers participating in omnichannel commerce for the first time will face new logistical challenges like keeping inventory in sync or tracking orders. Sellers will need to digitize their operations, using tools like loyalty points for purchases made both in-store and online and sending reminder emails for items left in the cart, to effectively compete with large retailers.
2. The lines between business types are blurring. Traditional distinctions separating food, retail, services, and nonprofits are disappearing. A robust e-commerce platform will help SMBs manage across all of the various ways that they do business, rather than just one.
3. Consumer behavior may change forever. Even when cities reopen from COVID-19 shutdowns, consumer sentiment and behavior will vary, with many shoppers still preferring curbside pickup and delivery. SMBs who continue catering to these expectations may find their business not only recovers, but grows.