Womply, a CRM and marketing software company serving small businesses, today published its second annual State of Local Retail report – a comprehensive look at consumer spending patterns at small, independent retail stores in all 50 states and the District of Columbia during all 365 days of the year.
Powered by analysis of 52,000 retail locations in every corner of America for every day of the 2018 calendar year, the report 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.
Among the major findings, the report reveals Valentine’s Day, Mother’s Day, Black Friday, and the Friday and Saturday before Christmas comprise five of the top six days of the year for consumer spending, suggesting local retailers are the preferred destination for last-minute shoppers.
The findings are publicly available on Womply.com and shed light on a number of questions facing local retailers, including:
- When do consumers tend to spend the most money?
- When are the slowest sales periods of the year?
- When do retailers in each state see the highest transaction volume?
“Local retailers should never have to feel like they’re operating blind, especially as they compete with a growing number of online retailers who have lots of data,” said Womply Founder and CEO Toby Scammell. “Our State of Local Retail report gives retailers visibility into the behavior of consumers where they operate. Armed with these insights, we hope retailers become more empowered to make data-backed decisions that positively impact their bottom line.”
Nationally, local retailers see an average of 13 transactions per day at a purchase price of $74.65, resulting in daily revenue of $961. Based on average daily revenue, the top 10 states for local retail sales are:
- Alaska, $1,394
- Utah, $1,294
- Minnesota, $1,223
- Delaware, $1,192
- North Carolina, $1,187
- Nevada, $1,154
- Washington, $1,141
- North Dakota, $1,127
- Wisconsin, $1,125
- Maryland, $1,108
The report uncovered a surprisingly low seasonal lift during the winter holidays, with the period from Black Friday to Christmas Eve accounting for just 10% of yearly revenue. Some additional findings about top-revenue periods include:
- Despite conventional wisdom, November and December were not the top two revenue months for local retailers nationally or in any state.
- On a state level, Mother’s Day weekend held the top day of the year in 12 states, and a top five day in 44 states.
- Similar to their big-box counterparts, Black Friday is huge for small shops, coming in as the No. 5 day of the year for consumer spending at local retailers.
- Small Business Saturday still isn’t a top day of the year for local retailers (No. 81 for consumer spending).
- Local retailers earn more than a third of weekly revenue on Fridays and Saturdays, the two busiest days of the week.
Womply’s mission is to help small businesses thrive in a digital world. Our AI-powered data platform enhances our comprehensive small business management software, which includes the world’s only pre-populated CRM plus small business intelligence, reputation management, marketing automation, and integrated payments. Every day, we serve more than 150,000 small businesses across 400+ verticals, in every corner of America. To learn more, visit www.womply.com or email email@example.com.