Ease of Doing Business for MSMEs: Around 50 per cent of the retailers find invoice financing more convenient. However, 43 per cent still prefer cash-on-delivery (COD), while only a small minority prefer card payments, according to a survey conducted by Solve.
Solve conducted a survey of MSME retailers across 300 Tier 1-6 cities in India to find out how small and medium retailers are preparing for the rising demand during the festive season.
Ease of Doing Business for MSMEs: This festive season, 70 per cent of Micro, Small and Medium Enterprises (MSME) retailers have sold Diwali-related goods at least 40 per cent more than what they usually stock during non-festive seasons. Stocked up. A survey by Business to Business (B2B) e-commerce marketplace Solve.
Solve conducted a survey of MSME retailers in over 300 Tier 1-6 cities in India to understand how small and medium retailers are getting ready for the festive season sales. The report does not mention the number of respondents who took part in the survey.
According to the survey, after a major turnaround in the pandemic, 83 per cent of businesses now order at least 20-40 per cent of their stock online through B2B marketplace platforms.
Earlier, retailers used to rely on offline sources for stock, but the pandemic offered a change to online sources. In addition, the remaining 17 per cent order 60-80 per cent of their stock online.
The findings also showed that nearly 50 percent of retailers find invoice financing more convenient. Invoice financing allows small merchants to borrow working capital against unpaid invoices that facilitate their cash flow. However, 43 per cent still prefer cash-on-delivery (COD) while only a small minority prefer card payments.
51 percent of retailers surveyed said that their customers discovered their brand through social media. TV advertising, once the primary source of brand discovery, now accounts for only 17 percent of it.
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