SBA loans: We can help you get an emergency loan for COVID-19

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SBA loans: We can help you get an emergency loan for COVID-19

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Data  

Data dashboard: How coronavirus / COVID-19 is impacting local business revenue across the U.S.

April 08, 2020

As the novel coronavirus (COVID-19) made its way from Asia and Europe to the U.S., the warnings came first and then the fallout. There’s a lot of chatter about coronavirus right now, and this is a rapidly-evolving situation unprecedented in our lifetime.

Our goal is to track the impact of coronavirus on revenue at small, local businesses across the country.

Local businesses are the lifeblood of the U.S. economy, accounting for half of domestic GDP and hiring, and businesses like restaurants, hotels, retail shops, salons, and entertainment businesses are likely to be disproportionately affected by the ripple effects as events, schools, businesses, public spaces, and more go on temporary lockdown.

We’ve been tracking revenue data for local businesses nationwide, and we’re working hard to provide an ongoing analysis of how local business sales are trending in response to COVID-19 spreading in the U.S.

This dashboard will contain several reports, updated on a daily basis, intended to give a live snapshot on the situation at local businesses across the country and in multiple industries.

Note: the figures used in the charts below are credit card transaction data from local businesses nationwide. Charts are updated daily, but data represents current date minus 4 days.

The impact of coronavirus on local businesses by daily revenue

Not all types of small businesses have been impacted the same way. Here’s a view of daily revenue at different types of local businesses compared to last year:

As you can see, restaurants and travel related industries have seen revenue plummet amidst coronavirus fears while grocery stores have seen sales skyrocket. Retail and service industries, as a wide-ranging category, have seen inconsistent changes in revenue.

Here are individual charts examining different types of businesses:

Impact of coronavirus on daily revenue at local restaurants

Impact of coronavirus on daily revenue at local bars

Impact of coronavirus on daily revenue at lodging places

Impact of coronavirus on daily revenue at local grocery stores

Impact of coronavirus on daily revenue at local retail shops

 Impact of coronavirus on daily revenue at local sporting goods and guns and ammo stores

Comparing multiple industries: average revenue last week vs same week in 2019

This graph shows us which types of businesses were most impacted by coronavirus over the previous week (rolling seven day period). Each line represents the difference in average revenue last week in each category compared to the same week in 2019.

Comparing multiple industries in each state: average revenue last week vs. same week in 2019

This table shows how much better or worse local businesses in a given category did last week when compared to the same week in 2019. Feel free to sort each column to see which states saw the most (or least) significant impact on revenue in any given category.

Again, this is looking at average revenue for the past seven days, and will be updated daily to reflect the latest trends.

Maps: which states have experienced the biggest impact on local business so far?

The charts above give us a day-by-day view of the nationwide impact on local businesses, but clearly not all states have been impacted the same. Here are some helpful maps examining the impact of coronavirus on local industries in different parts of the country:

Note: on each map below, you can click on a state to view county-level data, then on individual counties to view the change in revenue in specific categories for that county.

Map: Restaurants – average revenue last week vs the same week in 2019

The map above examines average revenue at restaurants and bars in each state last week compared to the exact same week of the year in 2019.

Map: Travel and tourism businesses – average revenue last week vs the same week in 2019

The map above examines average revenue at lodging places (hotels, motels, etc.), parking businesses, and transportation businesses last week compared to the same week in 2019.

Map: Grocery stores – average revenue last week vs the same week in 2019

The map above examines average revenue at local grocery stores last week compared to the same week in 2019.

Map: Retail shops and services – average revenue last week vs the same week in 2019

The map above examines average revenue at retail shops last week compared to the same week in 2019. Note: this is a wide ranging category that includes retail shops (clothing, sporting goods, flowers, furniture, books, jewelry, etc.) and local services (pet grooming, dry cleaning, storage facilities, repair services, etc.).

How many local businesses in different categories have stopped transacting entirely?

As you can imagine, plummeting revenue and increases in “stay at home” orders have forced a lot of businesses to close down indefinitely. Here’s what we did to learn how many businesses have stopped transacting due to COVID-19:

  1. We analyzed credit card transaction data at businesses who were regularly transacting between January 1, 2020, and March 1, 2020
  2. A business was designated as “closed” if it didn’t process a single transaction for three straight days starting on March 1
  3. If, after that three day period, the business processed a transaction, they are no longer considered closed and we back-update previous dates to represent that business as being “open”
  4. An important note: Restaurants and other businesses who have shifted to processing 100% of their transactions via third party delivery apps (like Doordash, Grubhub, etc.) would also show as being “closed” by this metric

Taking the above requirements into account, here’s a look at how many local businesses in different categories have stopped processing transactions since the start of the coronavirus outbreak:

If viewing the chart below on a mobile device, rotate your screen for the best viewing experience

Read more: How many local businesses have had to close due to COVID-19, a Womply Research Report

Check back regularly for updated info and additional charts

Every chart on this page will be updated daily, so please come back often in order to monitor exactly how local businesses in your area have been impacted as this situation continues to develop.

We will also be continuing to examine the data in new ways, and will add any helpful new charts or maps we uncover in the future.

If you own a small business that is struggling due to COVID-19

Womply is acting as a facilitator to connect American small businesses to SBA-authorized lenders to get emergency loans for COVID-19 relief. Learn more here , or call us at 855-208-8813 for a free consultation”

Need capital fast? Small businesses can get $1,000 of interest-free, no-fee emergency capital in about 24 hours, with flexible repayment terms. No credit check, no strings attached.

Over 450k small businesses use Womply software. Now we’re helping you get the emergency funding you need, ASAP. Get started by filling out the form to the right form below.

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