Cox Business Survey Shows Overwhelming Consumer Support for Small Businesses
Friday, April 29th, 2016
Consumers' patronage of small businesses extends beyond Small Business Week. According to the 2016 Cox Consumer Pulse on Small Businesses, 90 percent of U.S. consumers frequent small businesses at least once a week. Moreover, 42 percent are shopping small three or more times a week, according to the survey findings released.
While convenience and customer service attract consumers to small businesses, 63 percent simply feel a need to support local entrepreneurs. For many, their collective sense of loyalty to businesses in their communities may stem from seeing a lack of governmental support. In fact, 77 percent of consumers feel the federal government does not do enough to promote small business growth on a national level.
The survey included a variety of lighter findings as well, including:
-Fifty-six percent of consumers choose WiFi over coffee. #GoSmall [Tweet this]
-Most consumers (44 percent) tried their hands at entrepreneurship by babysitting. #GoSmall [Tweet this]
-Forty-eight percent of consumers prefer to tune into Shark Tank over Restaurant Impossible and Bar Rescue. #GoSmall [Tweet this]
Respondents also weighed in on small business' use of technology. Sixty-six percent of respondents prefer a digital rewards program to "old school" paper punch cards. However, respondents are slow to adopt mobile payments – 55 percent would not use their smartphones more often to pay for items if the small businesses they frequented accepted mobile payments.
One technology most consumers are on board with is WiFi. Forty-five percent of respondents believe offering free and reliable WiFi can improve the small business shopping experience.
"Like consumers, Cox Business is doing its part to support small businesses across the country," said Steve Rowley, senior vice president of Cox Business. "From fast and reliable broadband solutions and voice services to TV packages and security, our technology solutions are designed to help small businesses operate as efficiently as possible. Ultimately, we want small businesses to spend less time worrying about day-to-day logistics and more time innovating and connecting with their customer bases. That's what will fuel their continued success."