August 29, 2018

New Mexico retailers struggle on Labor Day, study finds (Albuquerque Business First) »

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New Mexico retail sales are expected to labor on this upcoming Labor Day.

While the Friday of Labor Day weekend yields a strong day for business, Monday ranks among the worst days for retail sales.

According to a new data analysis from Womply, a San Francisco-based software-as-a-service company, Labor Day ranked in the bottom third of best sales days for in-state retailers at No. 312. Womply looked at transactions from 54,000 retailers across all 50 states for each day of the 2017 calendar year to look at consumer trends and behavior.

New Mexico ranked No. 38 overall for retail sales on last year’s Labor Day, sandwiched between Rhode Island and Louisiana.

Idaho topped the list, followed by North Dakota, Nevada, Arkansas and Utah. Each of those states saw Labor Day as a top-15 day for retail sales in 2017.

For the Land of Enchantment, Womply found that the Friday of Labor Day weekend is one of the most profitable. It ranked as the No. 9 day for retail sales as it brings in a 66 percent jump, compared to a 34 percent average nationally. The analysis suggests that consumers are likely to take advantage of Labor Day sales before leaving town for the weekend.

In March, Womply identified St. Patrick’s Day as the best holiday of the year for small, local restaurants in New Mexico, ranking it No. 16 for revenue out of all 365 days. Womply previously found Cinco de Mayo ranked No. 78 for restaurant revenue for New Mexican eateries.

Business First reported earlier this month that New Mexico is missing eight of the biggest “big box” retailers in the country, which generate tens of billions of dollars in revenue each year. The biggest big-box retailer missing in New Mexico — Royal Ahold Delhaize USA/ Food Lion — reported $43.2 billion in sales in 2017.

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