A quarter of SMBs in Europe expect to sell entirely different products and services with the next five years to stay in business according to new research from Ricoh Europe.
The firm surveyed 3,300 SMB leaders across 23 countries to better understand how the continent’s small and medium sized businesses are re-evaluating their market offerings in order to keep pace with consumer demands in the digital age.
These heightened customer demands have led 59 per cent of SMB leaders to claim that innovation is now a top priority. Value for money, demand for choice and emphasis on the quality of experience were deemed by SMB leaders to have the most influence over how market offerings can stay current and relevant.
Of those surveyed, 91 per cent now expect to change their products and services to at least some degree to remain relevant during the next five years.