Visa Just Launched A Helpful Campaign To Support Small Businesses
Visa Launches A New SME-Focused Campaign Just As The World Notices A MAJOR Shift In Shopping Habits
Visa, the world’s leader in digital payment, is out setting there helping up-and-coming SMEs amidst global the corona crisis and we STAN’!
Visa has launched its regional “Where You Shop Matters’ initiative that aims to champion entrepreneurs while encouraging consumers to SMEs in the UAE.
As part of this initiative, Visa has published the COVID-19 CEMEA Impact Tracker highlighting the recent effect the pandemic has had on commerce for consumers and small merchants in the UAE.
Launching this week, ‘Where You Shop Matters’ will help support small businesses through the Visa Small Business Hub, a merchant platform providing tools and deets on how to start, run and grow small businesses.
The Hub will also feature leading merchants who embody the passion and entrepreneurial spirit of small businesses across the UAE
The report highlights 89% of small businesses noticing a decrease in average consumer spending during COVID-19.
Shopping habits transformed during COVID-19 with 83% of consumers visiting physical shops only when necessary, and 83% of businesses experiencing an impact on revenues
During the pandemic, many consumers in the UAE have started shopping online for the first time, primarily for essentials.
Commenting on the report’s findings, Shahebaz Khan, Visa’s General Manager for UAE, mentioned:
“The pandemic is impacting businesses everywhere. The findings of the COVID-19 CEMEA Impact Tracker suggest shoppers have changed how they shop, and this is already having a major impact on how merchants do business. As consumers adapt to the current restrictions, many have turned to online outlets for their shopping. These changes present challenges but also enormous opportunities for all merchants, including small businesses.”
59% of consumers admit to now spending less while also changing their shopping habits
Brief consumer shopping report:
- (56%) reported to now buying in bulk
- (50%) making lists to avoid impulsive purchases
- (37%) buying non-perishable items to ensure fewer trips
- When shopping in-store, 79% of the consumers are cautious about hygiene while 70% avoid rush hours
Speaking on the launch of Where You Shop Matters, Madhur Mehra, MENA Head of Merchant Sales & Acquiring, Visa, added:
“At Visa, we are proud to support merchants and recognize that many small businesses have been most adversely affected by the pandemic. From eCommerce to security, our ‘Where You Shop Matters’ initiative aims to help support and empower the local small businesses that serve as the backbone of our communities.”
As part of the campaign, Visa will host webinars for small business owners in the UAE, sharing useful insights and tips that are essential to helping them optimize and adapt their business models for the current COVID-19 scene
