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The state of local retail 2020: Miami, FL.


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

2020 has been a challenge for local businesses across the U.S., and there's no question that local retailers in Miami 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 Miami retail business saw total consumer spending from April through October, 2020 increase 9% compared to the same timeframe in 2019. Additionally, 19% of retailers in Miami 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 Miami make on an average day?

On a given day, retail shops in Miami brought in $1,001 in revenue. On a typical day, the average retail business also processed about 11 transactions while seeing customers spend an average of $91.93 per ticket.

Sales Revenue Transactions Ticket Size
$1,001 11 $91.93
     

 

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

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

Fridays were particularly big, as 18% of all retail revenue in Miami came in on that day alone. On the other hand, Sunday was the slowest day of the week for Miami 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 Miami retail businesses processing an average of 15 transactions per day.

 

 

Miami locals spend more per transaction on weekdays, with Tuesdays claiming the largest average ticket size of the week at $103.97 per ticket. Locals are the most frugal on Sundays, when they spent an average of $35.72 less than on Tuesdays.

 

 

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

Miami 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 Miami? Let's take a look.

 

Top 5 days for Miami retail businesses.

#1 #2 #3 #4 #5

12/23/19

12/20/19

Weekend before Christmas

12/14/19

3/1/19

2/14/19

Valentine's Day

Monday Friday Saturday Friday Thursday

 

Miami 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 362 -72.90% 30% $733 -26.80% 10 -8.00% $73.18 -20.40%
Super Bowl Sunday 337 -54.30% 48% $784 -21.60% 12 14.00% $63.23 -31.20%
Valentine's Day 5 46.60% 93% $1,287 28.70% 14 25.20% $94.48 2.80%
St. Patrick's Day 316 -43.20% 49% $953 -4.70% 14 27.50% $68.71 -25.30%
Easter Weekend 13 39.20% 87% $1,305 30.40% 14 30.00% $92.26 0.40%
Easter Weekend 113 13.20% 77% $1,193 19.30% 17 58.60% $69.15 -24.80%
Easter Sunday 361 -72.40% 35% $635 -36.50% 11 -2.60% $59.93 -34.80%
Cinco de Mayo 343 -55.80% 49% $742 -25.80% 11 4.90% $65.03 -29.30%
Mother's Day Weekend 15 38.50% 95% $1,190 19.00% 15 34.90% $81.05 -11.80%
Mother's Day Weekend 8 42.30% 81% $1,431 43.00% 19 70.60% $77.04 -16.20%
Mother's Day 317 -43.60% 51% $901 -9.90% 12 13.60% $72.89 -20.70%
Memorial Day Weekend 11 39.80% 97% $1,174 17.30% 12 13.80% $94.73 3.10%
Memorial Day Weekend 187 4.60% 79% $1,078 7.80% 15 39.70% $70.92 -22.80%
Memorial Day 332 -51.40% 53% $749 -25.10% 11 2.90% $66.88 -27.20%
Father's Day Weekend 48 25.40% 99% $1,035 3.50% 12 6.90% $89.00 -3.20%
Father's Day Weekend 96 14.60% 82% $1,147 14.60% 15 40.90% $74.79 -18.60%
Father's Day 342 -55.10% 47% $774 -22.60% 11 0.80% $70.62 -23.20%
34th of July 335 -52.50% 49% $797 -20.30% 12 14.00% $64.28 -30.10%
Labor Day Weekend 169 7.50% 88% $992 -0.80% 12 14.30% $79.77 -13.20%
Labor Day Weekend 307 -24.00% 68% $909 -9.10% 13 22.40% $68.28 -25.70%
Labor Day 364 -77.90% 35% $512 -48.80% 7 -36.30% $73.87 -19.60%
Halloween 184 4.90% 87% $986 -1.40% 9 -16.50% $108.50 18.00%
Thanksgiving Eve 35 29.00% 87% $1,209 20.90% 12 11.20% $99.87 8.60%
Thanksgiving 363 -75.10% 31% $650 -35.00% 11 0.20% $59.65 -35.10%
Christmas Eve 6 46.30% 65% $1,850 85.00% 19 72.70% $98.44 7.10%
Christmas Day 365 -88.30% 14% $699 -30.10% 12 6.30% $60.45 -34.20%
New Year's Eve 297 -12.90% 73% $972 -2.90% 13 15.90% $77.03 -16.20%

Methodology

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