May 13, 2021

83% of small enterprises in Ukraine suffer losses

83% of small enterprises in Ukraine suffer losses

The buying habits of Ukrainians during quarantine have changed significantly: 48% of consumers visit stores only for the purchase of basic necessities. At the same time, 83% of trading small businesses suffered losses.

Visa launched a new campaign#Support Yours (#WhereYouShopMatters), whose goal is to promote entrepreneurship in Ukraine and encourage consumers to support small businesses. At the same time, with the launch of the platform to support small businesses, Visa announced the results of the COVID-19 CEMEA Impact Tracker survey with the latest data on the impact of the pandemic on purchasing experience and entrepreneurial activity in Ukraine.

According to the survey, 71% of small business ownersreported a decrease in the purchasing power of their customers during quarantine. As a rule, people avoid retail outlets, except for the purchase of essential goods. As a result, the pandemic and quarantine measures significantly affected the income level of trading enterprises: 83% of the surveyed small business owners reported a drastic decrease.

During the pandemic, many Ukrainians first startedbuy essential goods online. For example, 52% of respondents said that they had to buy food products online for the first time, and 35% bought medicines on the Internet.

In general, the report is talking about rapid growth.e-commerce and replacing cash transactions with digital payments. The survey found that the current situation has become a catalyst for the development of electronic commerce. In particular, 7% of retail and service enterprises reported that their transition to online trading is directly related to the pandemic and quarantine measures. And since safety and hygiene is a key issue during a pandemic, the number of contactless payments has increased significantly, and sellers expect an increase of such payments after the pandemic by another 25%.

According to a Visa survey, 56% of Ukrainiansrecognize that they are spending less now than before. As for the usual expenses for consumers, the survey participants noted that they are increasingly optimizing their shopping trips: 42% of consumers purchase products with a margin, compiling lists of necessary goods in advance to avoid impulsive purchases. At the same time, Ukrainians refuse perishable products and reduce time for shopping, preferring to buy online.

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