New York (Press Release – December 6, 2011) – Capital Access Network’s (CAN) Data Services Division released figures today showing a 5.8 percent increase in same store credit and debit card sales at Main Street merchandise retailers and restaurants this Black Friday period* compared to 2010 Black Friday sales. The findings were released in the “Black Friday on Main Street” special issue of CAN’s Small Business Credit Sales (SBCS) Report, available at www.capitalaccessnetwork.com/sbcsreport.html.
The SBCS data is in line with reports by ShopperTrak’s National Retail Sales Estimate, which said Black Friday 2011 sales increased 6.6 percent over 2010 levels. ShopperTrak’s report focuses on overall sales figures rather than card sales at “Big Box” and mall retailers.
The growth in same store Black Friday period card sales was particularly well received by Main Street’s merchants and restaurateurs as the Federal Reserve continues to report declines in the revolving credit carried by U.S. consumers. CAN’s 2011 Black Friday report said that Main Street retailers saw their Black Friday card sales increase by almost 1.0 percent over 2010 levels, contrasting with 2010 when they saw their card sales drop 2.1 percent from 2009 levels.
Main Street restaurants fared even better than their merchandising neighbors. Restaurants saw their card sales climb 7.5 percent over 2010 levels. Among Main Street eateries, those with average ticket sizes greater than $25 saw their card sales rise 8.3 percent over last year. This figure is a substantial improvement from the 0.7 percent year-over-year (YoY) increase that these “more expensive than quick serve” restaurants saw during the 2010 Black Friday period.
“Consumers using their credit and debit cards at Main Street businesses contributed to what appears to be across the board online and offline Black Friday shopping increases this year,” said Glenn Goldman, CEO of Capital Access Network, Inc. “Last year, shoppers seemed to focus more on ‘Big Box’ Black Friday spending. This year, America’s small businesses shared in the overall increase in spend,” said Goldman.
1. Total Main Street credit and debit card sales jumped 5.8 percent compared to the 2010 Black Friday holiday shopping period. All monitored sectors within Merchandise Retail and Restaurants reported same store card sales increases when compared to 2010 sales. Small business segment results appear to be reflective of results released that include ‘Big Box’ retailers, which also show an uptick in Black Friday YoY sales figures.
2. Merchants categorized as Merchandise Retailers (jewelers, boutiques, toy stores, clothing stores, electronic retailers, sporting goods stores, gift shops, etc.) experienced an increase, but to a lesser extent. Small Merchandise Retailers reported a 0.9 percent increase as compared to 2010 sales levels, reversing negative YoY Black Friday period sales of 2.1 percent in 2010 versus 2009 card sales.
3. Main Street restaurants increased their Black Friday YoY same store card sales 7.5 percent, a significant upswing when compared to the 1.2 percent YoY lift reported in 2010. Within the small business restaurant segment, eateries with an average ticket size greater than $25 reported the greatest increase of the reported upon segments, 8.3 percent over their 2010 card sales. Restaurants with an average ticket size of $25 or less experienced a lift of 2.9 percent.
*Black Friday period defined as the Friday through Sunday after Thanksgiving, November 25 – 27, 2011.
About the CAN Small Business Credit Sales Report
The Small Business Credit Sales (SBCS) Report is a quarterly report highlighting credit and signature debit card sales trends within small to mid-sized businesses nationwide. Sponsored by the Data Services Division of Capital Access Network, Inc. (CAN), a New York-based financial technology company, the SBCS Report features analysis of credit and debit card sales trends based on same store card sales data housed in CAN’s data warehouses, which retain 12 years of data and include more than 50,000 businesses. Most same store sales retail reports focus on or include data from big-box retail and nationwide/regional department stores, either ignoring or obscuring the trends of the majority of small and mid-sized businesses. The SBCS Report was designed to assist business owners, the processing industry, associations, analysts and media interested in tracking and benchmarking credit and debit card sales trends among small and mid-sized businesses. Data published may include:
- Average Same Store Credit Sales – Overall
- Average Same Store Credit Sales – by Population Size
- Average Same Store Credit Sales – by Industry and Ticket Size
- Average Same Store Credit Sales – by Geographic Region
- Average Same Store Credit Sales – by Time in Business
- Average Same Store Credit Sales – by Gender of Owner
To receive the quarterly reports automatically via email, interested parties can sign up at http://www.capitalaccessnetwork.com/sbcsreport.html, or simply send an email to dnaczi@CapitalAccessNetwork.com.
About Capital Access Network, Inc.
Capital Access Network, Inc. (CAN) delivers innovative “Daily Remittance” powered financial products and services for small and mid-sized businesses (SMB) and SMB capital providers. Daily Remittance financial products enable the delivery of more capital to the right small businesses while decreasing provider risk. Recognizing the varying preferences and needs of busy SMB owners, CAN and its subsidiaries offer transaction request and fulfillment capabilities through multiple channel options, including online applications, in addition to unique web-based social resources, tools, data and information. Learn more at www.CapitalAccessNetwork.com, www.AdvanceMe.com and www.NewLogicBusinessLoans.com