July 26, 2018

CT’s independent retailers No. 5 in U.S. for daily revenue (Hartford Business Journal) »

By Joe Cooper

Local, independent retailers in Connecticut last year earned 28 percent more daily revenue compared to the national average, according to a new report.

A report by Womply, a software company tracking transaction data for millions of U.S. retailers, restaurants and auto shops, among others, says local Connecticut retailers accrued $2,018 a day, the fifth most daily revenue in the nation.

As part of the study, Womply reviewed every transaction last year at 54,000 small, independent retailers in the U.S. The company says the study aims to identify which local retailers earn the most money and when they’re busy.

Nationally, retailers on average see 13 transactions at a sale price of about $120, which amounts to $1,576 a day.

In 2017, Connecticut retailers surpassed all New England states in daily revenue and were only outpaced by Nevada ($2,927), Delaware ($2,693) Utah ($2,431) and New York ($2,383).

Local retailers in Connecticut saw an average of 12.6 transactions a day but collected about $160 per sale, a nearly 32 percent hike vs. the rest of the country. They typically earned about $14,100 each week, with 89 weekly transactions.

Retailers in the state earned the most on Wednesdays ($2,377 a day) but rang up the most sales on Saturdays (17.1 a day). Sunday was the slowest day with retailers seeing just 8.8 transactions a day and collecting $955.

The busiest retail week in Connecticut was Dec. 17 to Dec. 23, representing a 179 percent increase.

Connecticut retailers were trailed in daily earnings by California ($1,996), Nebraska ($1,935), New Jersey ($1,863), New Hampshire ($1,854) and Massachusetts ($1,785).

Meantime, West Virginia, Wyoming and Vermont retailers recorded the least earnings per day.

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