The Small and Medium Business Trend Report by Salesforce Research analyzed the responses of more than 2,300 small and medium business (SMB) owners and leaders around the world to determine the impact of the, role of digital transformation in terms of enhancing business resiliency, and how SMB leaders are planning for recovery and growth post pandemic.
McKinsey research shows unprecedented rate of adoption of digital technologies, like 10 years of e-commerce adoption in the past three years. In addition, there is a shock to brand loyalty, as 75% of Americans have switched brands in the pandemic. Small and medium businesses are fighting the most challenging conditions in the past hundred years — a combination of health, economic, racial injustice, climate change and large scale spread of misinformation and absentee leadership. There is a clear deficit of trust