Small businesses expect e-commerce sales to grow

Small businesses see headwinds and e-commerce growth

Despite economic and political risks, small businesses in the U.S. are optimistic about gaining experience in online sales, according to a survey by shipping company DHL.

For example, e-commerce sales forecasts for 2024 remain optimistic among small and medium-sized enterprises (SMEs).

According to the survey, 65% of respondents predict that their e-commerce sales will grow year over year (2024 compared to 2023), with 24% expecting significant growth and 41% predicting slight growth.

“The flexibility of e-commerce platforms allows SMEs to quickly adapt to market changes, manage costs more effectively, and reach a broader, global customer base, all without the overhead associated with traditional brick-and-mortar operations,” the study says. “As inflation continues to drive up the cost of goods and services, e-commerce provides SMEs with the tools to optimize pricing strategies and streamline supply chains.”

DHL e-commerce sales results

Inflation and shipping costs are currently the top concerns for e-commerce businesses. The study reveals that 40% of respondents see shipping costs as the biggest threat to their business, while 38% see inflation as their top challenge. Similarly, 60% of respondents note that inflation is the top issue they will be tracking for the rest of the year.

International expansion is a key objective for SMEs in 2024. More than half of survey respondents (53%) believe that international growth is the biggest opportunity for their e-commerce business. This is also confirmed by the priority markets for expansion, with 43% choosing the European Union and the United Kingdom, and 29% Mexico and Canada.

“Overall, SMEs remain optimistic about the growth potential of e-commerce, despite economic headwinds,” DHL said.

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