Over 82% of MSMEs eye digital sales; offline marketplaces still preferred

A recent report has revealed a significant shift in the mindset of micro, small, and medium enterprises (MSMEs), with over 82% expressing a keen interest in embracing digital sales channels. This trend highlights the growing recognition of the potential benefits of e-commerce platforms, as businesses seek to expand their reach and tap into new customer bases. The report underscores the importance of digital transformation for these businesses to stay competitive in an increasingly online-driven market. Despite the enthusiasm for digital sales, many MSMEs still prefer traditional offline marketplaces. This preference is attributed to the established customer relationships and trust that have been built over the years in physical settings. Offline channels continue to play a crucial role in business operations, providing a sense of familiarity and stability that digital platforms are yet to replicate fully. The blend of digital and offline strategies appears to be the emerging approach for many enterprises. The report also highlights the challenges that MSMEs face in transitioning to digital platforms, including technological barriers and the need for digital literacy. To address these issues, businesses are seeking support in terms of training and resources to effectively navigate the digital landscape. As the digital economy evolves, the ability of MSMEs to adapt and integrate online sales channels will be crucial for their sustained growth and success.

— Authored by Next24 Live