Womply’s State of Local Retail Report Reveals Consumer Spending Patterns in All 50 States
SAN FRANCISCO–(BUSINESS WIRE)–Womply, the leader in front office software for small- and medium-sized businesses (SMBs), today unveiled the State of Local Retail report, which charts consumer spending patterns at small, independent retail stores in all 50 states and the District of Columbia during all 365 days of the year.
The report, which is available for public use on Womply.com, reveals a wide range of patterns in consumer spending at local retailers, including how sales trend during the days of the week, months of the year, and on major holidays. The report includes a national view and localized findings for each state, powered by analysis of 54,000 retail locations in every corner of America during every day of the 2017 calendar year.
“As consumer spending patterns shift on Main Street, it’s important that local retailers know where they stand,” says Womply President Cory Capoccia. “Our State of Local Retail report gives shop owners unprecedented visibility so they can understand how their sales patterns and seasonality compare to national and regional baselines.”
Nationally, local retailers see 13 transactions at a $121 per-sale average, resulting in daily revenue of $1,576. Based on average daily revenue, the top 10 states last year were:
- Nevada, $2,927
- Delaware, $2,693
- Utah, $2,431
- New York, $2,383
- Connecticut, $2,018
- California, $1,996
- Nebraska, $1,935
- New Jersey, $1,863
- New Hampshire, $1,854
- Massachusetts, $1,785
The report uncovered strong seasonality during the winter holidays, with the period from Black Friday to Christmas Eve accounting for a quarter of yearly revenue. Some additional findings about top-revenue periods include:
- Similar to their big-box counterparts, Black Friday is huge for small shops, ranking as the top revenue day of the entire year
- Cyber Monday (No. 11) is a stronger sales day for local retailers than Small Business Saturday (No. 22)
- Despite conventional wisdom, November and December are not consistently the top two revenue months for local retailers at a state level. Alaska, Utah, Idaho, Indiana, and Nevada break from that trend
- Sunday is the weakest sales day for small shops, yielding less than half the revenue of the next lowest day (Monday)
“Our studies of sales patterns on Main Street highlight the unique consumer-spending landscape facing small shops,” Capoccia says. “Operating in the dark can be precarious when running a lean business, which is why we created the State of Local Retail report. We want to empower small retailers to seize growth opportunities they discover in the data set to inform their yearly forecasting and business strategies.”
Womply’s State of Local Retail report is now available on Womply.com. Data will be updated on an annual basis, and additional business categories will be added soon. For more information, contact email@example.com.
Womply is a software-as-a-service (SaaS) provider to small businesses and one of the fastest growing software companies in America. Our mission is to help small businesses thrive in a digital world. Every day we serve more than 100,000 small businesses across 400+ business verticals, in every corner of America. To learn more, visit http://www.womply.com or email firstname.lastname@example.org.