Local interest: Social app Nextdoor saw usage spike during the pandemic, and it's chasing that interest with greater access for users and expanded ad options for brands looking to tap local audiences.
eBay seeks to plug small business financing gap with an embedded lending product for its UK SMB sellers. eBay and other ecommerce firms will likely add more financial services, like accounting solutions, to better serve their user bases.
Minority-owned small businesses struggled in April
Nearly half of US social media users have bought something via social platforms: Facebook and Instagram were clear favorites, but most social networks have been ramping up shopping capabilities.
Latin America’s accelerated shift toward ecommerce: Brazil’s Shopify equivalent, Nuvemshop, is hoping its new direct-to-consumer (D2C) and small and medium-sized business (SMB) options will give merchants more control of the entire consumer journey.
Snap and Gannet are focusing on home: The ad partnership geared toward local communities will benefit both companies in their current commitments.
The economic realities brought on by the pandemic are negatively impacting revenue growth for many small and medium-sized businesses (SMBs).
eMarketer analyst Ross Benes, forecasting analyst Eric Haggstrom and principal analyst at Insider Intelligence Nicole Perrin discuss what's next for out-of-home advertising now that the US is sheltering in place. They then talk about college football's TV ad inventory being in jeopardy, TikTok's data collection practices and the social platforms that small businesses are most likely to advertise on.
From February 2020 to April 2020, the US saw a loss of -41%, -32% and -26% in the number of Black, Latino and Asian small business owners, respectively.