The state of local retail 2020: Hawaii.
We analyzed transactions for every day of the 2019 calendar year at over 40,000 local retail businessses across the United States, including Hawaii. The result is a comprehensive look at when local retail businesses make the most money, when they process the most transactions, and when customers tend to spend a little extra when they're out shopping.
The impact of COVID-19 on Hawaii retail businesses.
2020 has been a challenge for local businesses across the U.S., and there's no question that local retailers across the state of Hawaii have faced unprecidented challenges all year.
So before we take a look back at 2019, it's important to keep in mind the impact that COVID-19 has had on local retailers across the state. According to our data, the average Hawaii retail business saw total consumer spending from April through October, 2020 drop 58% compared to the same timeframe in 2019. Additionally, 8% of retailers in the state of Hawaii that were transacting before the pandemic hit are closed as of the last week of October.
Our research has shown that some types of retail businesses have fared quite well during the pandemic (sporting goods stores, home improvement stores, etc.), while others (clothing stores, book stores, etc.) have struggled. Whether a local retail business has struggled or thrived through 2020, this report gives insight on which days and months will be extra important for retailers in this unpredictable year.
What we learned about local retail sales in Hawaii.
Hawaii is the 14th-ranked state for average retail revenue in the United States, pulling in 6% more in daily revenue than the national average on a given day.
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How much do retail shops in Hawaii make on an average day?
On a given day, retail shops in Hawaii brought in $1,038 in revenue. On a typical day, the average retail business also processed about 13 transactions while seeing customers spend an average of $79.08 per ticket.
|Sales revenue||Transactions||Ticket size|
|National Rank: 14||National Rank: 20||National Rank: 16|
What days of the week are retail shops in Hawaii busiest?
Fridays and Saturdays are busy at retail shops across the country, and things were no different for Hawaii retail businesses.
Saturdays were particularly big, as 16% of all retail revenue in Hawaii came in on that day alone. On the other hand, Sunday was the slowest day of the week for Hawaii retail shops, with 12% of revenue coming in on that day.
Saturdays and Sundays were the biggest days of the week in terms of foot traffic, with Hawaii retail shops processing an average of 15 transactions per day.
Hawaii residents spend more per transaction on throughout the week, with Wednesdays claiming the largest average ticket size of the week at $82.65 per ticket. Still, average ticket price remains fairly consistent throughout the week except for Sundays, when they spent an average of $10.78 less than on Wednesdays.
What time of year do retail shops in Hawaii make the most money?
Hawaii residents clearly love to shop regardless of the season, but what does the average year look like from week to week at retail shops in Hawaii? Let's take a look.
The holiday shopping season was huge for retail shops across the country, and things were no different in the Aloha State. December is the biggest month of the year overall and 4 of the top 10 weeks of the year fell during the holiday shopping season.
Top 5 days for Hawaii retail businesses.
The holidays was massive for retail shops in Michigan, accounting for each of the top five days of the year. The holidays was also big for local retail businesses in Michigan, accounting for five top days as well.
Hawaii retail shops on prominent days.
Retail shops look to events and holidays to generate big sales for their business. Here’s how prominent days rank compared to the average day.
|Day rank based on total sales||How much did restaurants that were open make?|
|Day||Day Rank||Total rev vs avg||% of restaurants open||Avg rev||Rev vs avg||Avg txns||Txns vs avg||Avg ticket||Ticket vs avg|
|New Year's Day||328||-22%||48%||$1,489||43%||20||50%||$75.61||-4%|
|Super Bowl Sunday||364||-43%||69%||$746||-28%||11||-16%||$67.68||-14%|
|St. Patrick's Day||268||-11%||74%||$1,105||7%||15||17%||$71.78||-9%|
|Cinco de Mayo||315||-19%||74%||$997||-4%||14||4%||$72.71||-8%|
|Mother's Day Weekend||53||17%||96%||$1,113||7%||15||14%||$74.34||-6%|
|Mother's Day Weekend||29||22%||92%||$1,210||17%||17||29%||$71.65||-9%|
|Memorial Day Weekend||96||9%||96%||$1,037||0%||13||2%||$77.79||-2%|
|Memorial Day Weekend||88||10%||92%||$1,094||5%||14||10%||$75.88||-4%|
|Father's Day Weekend||89||10%||95%||$1,062||2%||14||9%||$74.02||-6%|
|Father's Day Weekend||19||31%||89%||$1,339||29%||17||28%||$79.69||1%|
|15th of July||271||-11%||73%||$1,117||8%||16||23%||$69.10||-13%|
|Labor Day Weekend||224||-5%||91%||$950||-9%||13||0%||$72.24||-9%|
|Labor Day Weekend||50||17%||87%||$1,237||19%||14||10%||$85.92||9%|
|New Year's Eve||30||22%||78%||$1,437||38%||16||18%||$92.66||17%|
Womply analyzed daily revenue for over 40,000 retail shops in all 50 states, including Hawaii, as well as the District of Columbia for all 365 days of the 2019 calendar year. Retail businesses were only included in the analysis if they qualified as small businesses, Womply had a full year of transaction history, and the business recorded multiple transactions per day, on average.