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The state of local retail 2020: Minneapolis, MN.


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

2020 has been a challenge for local businesses across the U.S., and there's no question that local retailers in Minneapolis 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 Minneapolis retail business saw total consumer spending from April through October, 2020 drop 7% compared to the same timeframe in 2019. Additionally, 16% of retailers in Minneapolis 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 Minneapolis make on an average day?

On a given day, retail shops in Minneapolis brought in $1,393 in revenue. On a typical day, the average retail business also processed about 15 transactions while seeing customers spend an average of $92.30 per ticket.

Sales Revenue Transactions Ticket Size
$1,393 15 $92.30
     

 

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

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

Fridays were particularly big, as 18% of all retail revenue in Minneapolis came in on that day alone. On the other hand, Sunday was the slowest day of the week for Minneapolis 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 Minneapolis retail businesses processing an average of 20 transactions per day.

 

 

Minneapolis locals spend more per transaction on weekdays, with Wednesdays claiming the largest average ticket size of the week at $101.07 per ticket. Locals are the most frugal on Sundays, when they spent an average of $29.71 less than on Wednesdays.

 

 

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

Minneapolis 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 Minneapolis? Let's take a look.

 

Top 5 days for Minneapolis retail businesses.

#1 #2 #3 #4 #5

11/29/19

Black Friday

12/23/19

3/13/19

12/20/19

Weekend before Christmas

12/21/19

Weekend before Christmas

Friday Monday Wednesday Friday Saturday

 

Minneapolis 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 -75.50% 28% $977 -29.90% 13 -12.90% $74.28 -19.50%
Super Bowl Sunday 339 -53.00% 43% $1,208 -13.30% 16 5.90% $75.57 -18.10%
Valentine's Day 14 44.30% 83% $1,906 36.80% 25 63.50% $77.22 -16.30%
St. Patrick's Day 325 -45.60% 46% $1,289 -7.50% 17 9.90% $77.65 -15.90%
Easter Weekend 18 41.80% 92% $1,705 22.40% 21 39.90% $80.71 -12.60%
Easter Weekend 108 16.50% 75% $1,708 22.60% 26 71.00% $66.20 -28.30%
Easter Sunday 363 -82.90% 25% $763 -45.30% 21 39.10% $36.31 -60.70%
Cinco de Mayo 326 -45.70% 51% $1,165 -16.40% 16 9.20% $70.64 -23.50%
Mother's Day Weekend 6 63.60% 97% $1,863 33.70% 22 47.90% $83.44 -9.60%
Mother's Day Weekend 15 43.30% 77% $2,035 46.10% 27 80.00% $74.90 -18.90%
Mother's Day 308 -36.60% 53% $1,315 -5.60% 21 40.30% $62.11 -32.70%
Memorial Day Weekend 28 36.40% 97% $1,542 10.70% 15 1.00% $101.18 9.60%
Memorial Day Weekend 148 9.90% 75% $1,622 16.50% 20 32.20% $81.33 -11.90%
Memorial Day 340 -53.70% 43% $1,183 -15.00% 13 -13.60% $90.80 -1.60%
Father's Day Weekend 24 37.90% 96% $1,583 13.60% 17 12.90% $92.86 0.60%
Father's Day Weekend 159 8.30% 80% $1,483 6.50% 21 36.20% $72.13 -21.90%
Father's Day 337 -52.80% 51% $1,016 -27.00% 15 -1.90% $68.65 -25.60%
36th of July 361 -73.20% 34% $864 -38.00% 14 -8.30% $62.42 -32.40%
Labor Day Weekend 10 52.90% 95% $1,763 26.60% 17 11.60% $104.72 13.50%
Labor Day Weekend 164 7.80% 73% $1,616 16.00% 21 38.80% $77.18 -16.40%
Labor Day 324 -45.40% 40% $1,505 8.00% 20 31.40% $75.85 -17.80%
Halloween 277 -14.80% 81% $1,159 -16.80% 12 -17.50% $93.10 0.90%
Thanksgiving Eve 244 -6.10% 78% $1,321 -5.20% 14 -4.90% $92.01 -0.30%
Thanksgiving 364 -86.20% 21% $729 -47.70% 10 -36.70% $76.35 -17.30%
Christmas Eve 288 -18.20% 59% $1,536 10.30% 20 35.10% $75.38 -18.30%
Christmas Day 365 -96.90% 9% $376 -73.00% 11 -29.10% $35.09 -62.00%
New Year's Eve 292 -20.50% 76% $1,150 -17.40% 12 -18.20% $93.16 0.90%

Methodology

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