TSG-ETA COVID-19 SMB Insights

The Strawhecker Group (TSG), in collaboration with the Electronic Transactions Association (ETA), is pleased to share findings from a recently conducted survey of over 350 small to medium sized businesses (SMBs) in the U.S. market.

The survey focused on understanding the impact COVID-19 has had on U.S. SMB operations, specifically including payments fraud, chargebacks, sales, and methods of payment acceptance. Each of these areas was further examined by industry.

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Quick-Hits

  • SMBs that are still open during the pandemic have a 10% higher debit/credit card payment acceptance rate than those that are closed
  • 47% of travel and hospitality SMBs surveyed have seen more attempted fraudulent payments and more chargebacks
  • Two-thirds of healthcare SMBs surveyed have experienced an increase in sales, while the nonprofit, education and public administration SMBs surveyed have been hit the hardest
  • Among retail SMBs that are still open, 26% have experienced a decrease of over 50% in sales since the pandemic
Interested in Conducting a Survey?
Understanding your customer's perspective is critical, especially during this time of uncertainty. Let TSG's Market Intelligence team support you. Set up a meeting to discuss your needs.