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The state of local retail 2020: Memphis, TN.


We analyzed transactions for every day of the 2019 calendar year at over 40,000 local retail businessses across the United States, including Memphis. 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 Memphis retail businesses.

2020 has been a challenge for local businesses across the U.S., and there's no question that local retailers in Memphis 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. According to our data, the average Memphis retail business saw total consumer spending from April through October, 2020 increase 41% compared to the same timeframe in 2019. Additionally, 17% of retailers in Memphis that were transacting before the pandemic hit were 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.

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How much do retail shops in Memphis make on an average day?

On a given day, retail shops in Memphis brought in $947 in revenue. On a typical day, the average retail business also processed about 15 transactions while seeing customers spend an average of $61.20 per ticket.

Sales Revenue Transactions Ticket Size
$947 15 $61.20
     

 

What days of the week are retail shops in Memphis busiest?

Fridays and Saturdays are busy at retail shops across the country, and things were no different for Memphis retail businesses.

Fridays were particularly big, as 20% of all retail revenue in Memphis came in on that day alone. On the other hand, Sunday was the slowest day of the week for Memphis retail shops, with 7% of revenue coming in on that day.

 

Saturday was the busiest day of the week in terms of foot traffic, with Memphis retail businesses processing an average of 23 transactions per day.

 

 

Memphis locals spend more per transaction on weekdays, with Tuesdays claiming the largest average ticket size of the week at $68.55 per ticket. Locals are the most frugal on Sundays, when they spent an average of $23.18 less than on Tuesdays.

 

 

What time of year do retail shops in Memphis make the most money?

Memphis locals clearly love to shop regardless of the season, but what does the average year look like from week to week at retail shops in Memphis? Let's take a look.

 

Top 5 days for Memphis retail businesses.

#1 #2 #3 #4 #5

8/9/19

3/2/19

12/21/19

Weekend before Christmas

8/10/19

3/23/19

Friday Saturday Saturday Saturday Saturday

 

Memphis 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 364 -71.50% 33% $655 -30.90% 13 -16.00% $50.36 -17.70%
Super Bowl Sunday 334 -55.60% 41% $810 -14.40% 19 22.10% $42.90 -29.90%
Valentine's Day 58 38.50% 81% $1,279 35.00% 17 12.80% $73.28 19.70%
St. Patrick's Day 319 -46.10% 44% $922 -2.60% 19 25.40% $47.50 -22.40%
Easter Weekend 24 57.40% 89% $1,331 40.60% 23 50.70% $57.09 -6.70%
Easter Weekend 12 72.30% 82% $1,573 66.10% 30 94.10% $52.37 -14.40%
Easter Sunday 350 -62.00% 39% $728 -23.10% 18 13.30% $41.52 -32.20%
Cinco de Mayo 301 -31.50% 51% $1,001 5.70% 25 62.10% $39.92 -34.80%
Mother's Day Weekend 20 64.50% 93% $1,322 39.60% 21 37.50% $62.13 1.50%
Mother's Day Weekend 36 48.20% 85% $1,308 38.20% 23 51.00% $56.01 -8.50%
Mother's Day 341 -58.70% 47% $664 -29.90% 16 0.30% $42.78 -30.10%
Memorial Day Weekend 60 38.10% 95% $1,087 14.90% 20 31.20% $53.56 -12.50%
Memorial Day Weekend 65 35.80% 85% $1,199 26.60% 23 51.90% $51.03 -16.60%
Memorial Day 340 -58.50% 50% $629 -33.50% 13 -17.80% $49.49 -19.10%
Father's Day Weekend 51 42.20% 100% $1,068 12.80% 18 18.50% $58.24 -4.80%
Father's Day Weekend 31 50.90% 88% $1,290 36.20% 25 60.70% $51.87 -15.30%
Father's Day 326 -52.20% 46% $783 -17.30% 18 14.90% $44.06 -28.00%
33rd of July 304 -33.00% 44% $1,145 21.00% 25 63.30% $45.35 -25.90%
Labor Day Weekend 18 65.60% 98% $1,267 33.80% 20 27.60% $64.21 4.90%
Labor Day Weekend 87 24.80% 77% $1,223 29.10% 26 69.60% $46.59 -23.90%
Labor Day 324 -47.90% 54% $722 -23.80% 15 -5.30% $49.24 -19.50%
Halloween 163 1.60% 88% $868 -8.30% 11 -26.30% $76.12 24.40%
Thanksgiving Eve 28 53.70% 81% $1,419 49.90% 18 18.40% $77.45 26.50%
Thanksgiving 307 -34.00% 23% $2,122 124.10% 34 118.00% $62.92 2.80%
Christmas Eve 17 67.40% 54% $2,318 144.90% 29 85.00% $81.01 32.40%
Christmas Day 315 -40.70% 16% $2,802 196.00% 38 143.40% $74.43 21.60%
New Year's Eve 196 -6.60% 75% $938 -1.00% 16 3.20% $58.73 -4.00%

Methodology

Womply analyzed daily revenue for over 40,000 retail shops in all 50 states, including Memphis, 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.

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