83% of small enterprises in Ukraine suffer losses

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

Visa has launched a new campaign#SupportYour(#WhereYouShopMatters), which aims to promote the development of entrepreneurship in Ukraine and encourage consumers to support small businesses. At the same time as 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 the shopping experience and business 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 startedbuy essential goods online. For example, 52% of respondents noted that this was the first time they had to buy food online, and 35% purchased medicines online. 

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 Ukrainiansadmit that they now spend less than before. When it comes to consumer spending habits, survey participants noted that they are increasingly optimizing their shopping trips: 42% of consumers buy groceries in stock, making lists of needed items in advance to avoid impulse purchases. At the same time, Ukrainians refuse perishable products and reduce the time they spend going to the store, preferring to buy online. 

Subscribe to ForkNews on Telegram