71% of UK SMEs Admit to Not Using Social Media to Track Viral Trends

•  A new report from SumUp, the leading global fintech company, reveals how small businesses react to viral product trends.
• The findings reveal key challenges SMEs face when deciding whether to invest in trends and how confident they are in identifying trends.
• Half of SMEs are confident in their ability to spot trends, with 34% measuring a positive impact from adopting them within the past year.

Unlike major retailers with dedicated trend and insight teams, small businesses often rely on instinct to stay ahead of consumer demand, while others are tapping into viral social trends to drive growth. 

To explore how SMEs turn viral trends into revenue, SumUp surveyed 500 UK small business owners and decision-makers. The research reveals how they spot emerging trends, the impact on their bottom line, and the risks of investing in what’s “in.”

The research revealed that while over a third (34%) have reported a positive impact from adopting viral trends, 71% of small business owners say they don’t actively use social media to discover new trends, potentially missing out on investing in products that can create extra revenue. 

How SMEs spot emerging trends:

Half of SMEs (50%) say they feel confident in their ability to spot emerging trends, of those, 13% described themself as very confident, actively tracking trends and adapting their offerings, while 37% say they feel confident enough to make occasional adjustments. Meanwhile, 24% say they struggle to judge which trends are relevant to their business, and 15% admit they either lack confidence in spotting trends or do not track trends at all. 

When it comes to where SMEs look for inspiration, more than a third (34%) rely on industry news and events, pointing to a preference for sector-led insight. Meanwhile, just 29% rely on social media to discover viral trends. This suggests that 71% of SMEs are not actively using social platforms as a source of inspiration, potentially missing out on early signals of changing consumer behaviour, popular products, and lifestyle trends. By monitoring content that is relevant to them, SMEs can adapt offerings and jump on trends that are already resonating with audiences, allowing them to stay relevant and and increase consumer engagement.

Other ways that small businesses learn about emerging trends include customer requests or feedback (25%), assessing their competitors’ offerings and success (21%), and through their suppliers or partners (18%). Interestingly, 14% admitted they do not seek out trends that could impact their business.

Risk vs impact: How SMEs experience and evaluate trend adoption:

For small businesses, adopting new trends can carry risks. Limited budgets and resources mean that they don’t have the financial flexibility to take chances on ideas that may not pay off.

When asked about the biggest risk associated with following trends, 26% of SMEs said they worry about wasting time on short-lived fads, which can often leave them stuck with excess stock or materials that are difficult to shift. Furthermore, 15% of SMEs said the financial risk of following trends is simply too high, while another 13% worry about investing in stock or materials that could end up unsold.

SMEs also expressed concerns about whether trends will appeal to their existing customers or attract new consumers (13%), appearing to imitate competitors by adopting trends too late (13%), and diverting focus and resources away from their best-selling products (12%).

Only 18% of SMEs said they don’t associate risk with following trends. But, for those who have adopted them, the results are largely positive.

Over a third (34%) reported a positive impact, including 10% who said they experienced a significant boost. A further 15% saw no measurable impact, while just 2% reported a negative outcome. Nearly half (46%) said they hadn’t adopted any new trends in the past year.

Hospitality focus: The top trends in the UK café and restaurant sector:

For cafés, restaurants, and other hospitality businesses, staying on top of trends can make a real difference to their profits. 

Social media plays a key role for hospitality SMEs, with over half (52%) turning to digital platforms to seek out new trends, from viral food items to seasonal menu ideas. Industry news (36%) and customer requests (32%) also guide business owners’ decisions when adopting trends.

When it comes to the impact of adopting trends, over half (59%) of hospitality SMEs have reported positive effects on their business, including 18% who saw a significant boost. Confidence in spotting trends is also high among SMEs in this sector, with 66% feeling confident or very confident in their ability to identify and act on trends.

While this sector has had a largely positive impact from trend adoption, SMEs are still aware of the potential risks. Over a quarter (26%) are worried about investing in short-lived fads, while 21% are concerned about putting money into stock or ideas that may not sell. A further 19% worry that they can’t keep up with how quickly trends change, highlighting the challenge of fast-changing consumer preferences.

What’s trending in the hospitality industry?

The most searched for products in the café and restaurant sector right now indicate a desire for indulgent treats and globally inspired flavours. For SMEs, these trends highlight an opportunity to update their menus with items that are gaining popularity online, helping SMEs tap into what consumers are actively looking for.

Corin Camenisch, Product Marketing Lead at SumUp, commented on the survey, saying:

“As champions of small businesses, our research highlights the unique challenges and opportunities SMEs face when navigating trends.”

“Success can often depend on the ability to spot and act on emerging trends, whether it’s incorporating a seasonal drink to your menu or investing in viral products. We ran this survey to capture first-hand experience from SMEs navigating the process of turning trends into revenue.”

For more information, please visit: https://www.sumup.com/en-gb/point-of-sale-overview/coffee-shop/how-likely-are-uk-businesses-to-adopt-social-trends/