Resilience is in their name

As small and medium-sized businesses (SMBs) around the world are getting ready to implement resiliency strategies for growth, some of the burning questions in business owners’ minds are the anticipated risks, challenges, and areas of opportunities for small and medium-sized FMCG businesses.    

NIQ has conducted a survey with the objective of developing a better understanding of their business challenges, current concerns, and perceived risks which would impact business growth, as well as their view of future growth opportunities.  

In this report, you will find:  

• The primary challenges and future risk outlooks from the perspectives of small-sized businesses vs. mid-sized businesses.  
• The varying perspectives on distribution strategies between businesses of different sizes, especially when it comes to e-commerce. 
• Treatment of pricing, promotions, and use of data. 

• Connected insights from SMB points of focus with regard to pricing and product value to consumer perspectives on products provided by small-sized businesses. 

What’s next for SMBs

38% of SMB survey respondents noted that they use market research data to predict business opportunities, and 98% have done so with success. Between the challenges SMBs face on pricing, retailer negotiations, and changing consumer behavior, the quest for growth and sustainability requires more hits than misses. ​ 

The beauty of data is that it can be searched for solutions that suit your needs. ​ 

When it comes to dealing with retailers, for example, backing up proposals with the right category information and winning angles can help SMBs form strong partnerships, negotiate favorable terms, diversify distribution channels, and secure shelf space. ​ 

By addressing these challenges head-on, SMBs can navigate the dynamic business landscape and position themselves for long-term success.