Mississippi ranks No. 46 nationally for consumer spending at small, independent retailers - with local retailers bringing in an average of $718 each day (25% lower than the national average), according to a new data analysis from Womply, a small business software company.
These findings for Mississippi are part of Womply’s 2019 State of Local Retail report. Our data science team analyzed transaction data at 52,000 small, independent retailers in all 50 states during every day of the 2018 calendar year to identify consumer spending patterns and seasonality nationwide.
A few additional findings for Mississippi:
The average purchase size for retailers is $69, ranking No. 33 nationally and 7% under the national average.
The average retailer sees 10 transactions
To project sales patterns in 2019, business software maker Womply analyzed transactions for every day of the 2018 calendar year at over 52,000 small, local retail shops across the United States. This included businesses from clothing and accessory stores to furniture and home decor shops, flower shops to shoe stores, jewelry stores to thrift stores, and a whole lot more.
The result is a comprehensive look at when local retail stores earn the most, when they sell the most items, and when customers spend the most money.
To uncover how consumers are patronizing local retail shops, Womplly looked at:
• Transactions – How many individual payments a retail store processes on a given day
• Ticket size – How much customers spend on average per transaction on a given day
• Daily sales revenue – How much revenue a retail store makes on a given day
On a given day, retail businesses in America brought in an average of $961 in revenue. The average retail business also processed about 13 transactions each day while seeing customers spend an average of $74.65 per ticket.
In comparing the average day for all retail businesses in each state, shops in Alaska proved to bring home the highest overall daily average revenue at $1,394. The largest average ticket belonged to retail shops in Maryland, where the average purchased item cost $91.70. Utah, meanwhile, was home to the country’s busiest retail shops, with 19 average daily transactions.
Mississippi ranks No. 46 nationally for consumer spending at small, independent retailers – with local retailers bringing in an average of $718 each day (25% lower than the national average).
The average purchase size for retailers in MIssissio[[I is $69, ranking No. 33 nationally and 7% under the national average. The average retailer sees 10 transactions.