Main Street’s Pandemic-Led Shift To Digital Innovation

The lockdown of the United States economy, which was designed to slow the coronavirus’ spread, changed the way consumers browse, shop and pay for purchases. Businesses that didn’t have eCommerce channels could not sell their products, while eateries that lacked online ordering couldn’t serve diners. Small and medium-sized companies faced the choice of finding digital ways to reach customers or run the risk of going out of business. All this, Today in Data.

Data: 

431: Number of SMB owners PYMNTS surveyed from across the U.S. in Main Street On Lockdown: Business Recovery.

70%: Share of SMBs that have added new digital capabilities or enhanced existing digital services since the pandemic began.

45.9%: Portion of SMBs that have applied for PPP loans.

42.5%: Share of SMBs receiving PPP financial aid that obtained less than $250K.

26: Average number of days surveyed SMBs can stay open with funds at their disposal.