For many brick-and-mortar shops, diversifying revenue streams means putting products and services on an online marketplace. Over a quarter of small businesses are choosing to sell more products and services online this year, according to a recent QuickBooks survey. 94% say the coronavirus has influenced this change.
Many were forced to close their physical doors while their consumers sheltered in place. Others had to rethink their business offerings and processes to fit an e-commerce-driven world. That includes opening an online shop and accepting digital payments or other payment methods.
The same QuickBooks survey found that 87% of small businesses opening within the next year will be primarily online, or a combination of online and in-person. Experts believe this rapid shift to e-commerce is going to stick.