Industry News | December 11, 2012
Main Street Businesses Enjoyed Black Friday Gains
Capital Access Network (CAN), a next-generation, small-business finance provider, released figures showing a 3.9 percent increase in same-store credit and debit card sales at “Main Street” merchandise retailers and restaurants this Black Friday period, compared to 2011 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.
Black Friday results have been mixed. ShopperTrak’s National Retail Sales Estimate reported that Black Friday 2012 ‘Big Box’ retailers’ sales decreased 1.8 percent over 2011 levels.
However, according to a National Retail Federation survey conducted by BIGinsight, traffic and spending over the entire weekend exceeded last year’s results as a record 247 million shoppers visited stores and websites over the Black Friday weekend, a 12.8 percent increase.
The average shopper spent 6.8 percent more than in 2011.
While overall small merchants and restaurants alike managed to show positive trends this year, small merchandise retailers, which tend to be businesses that traditionally depend on strong preholiday sales—including jewelers, boutiques, toy stores, clothing stores, electronic retailers, sporting goods stores, and gift shops—experienced a decline in card sales.
Unlike others, this segment decreased sales 8.8 percent compared to the same period’s 2011 sales.
“Despite a decrease in card volume for some segments, most Main Street businesses should be encouraged by the overall increase in store sales seen during the 2012 Black Friday shopping weekend,” says Glenn Goldman, CEO of CAN. “It’s clear that many small and mid-sized businesses kicked off the holiday shopping season in the right direction and that consumers were more committed to supporting small businesses this season."
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