Same-store sales at NRS retailers during December increased 5.5% compared to December 2022
Compared to November 2023, same-store-sales per calendar day increased 5.3%
NEWARK, N.J., Jan. 08, 2024 (GLOBE NEWSWIRE) -- NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative same-store sales results for December 2023 and the three months then ended.
As of December 31, 2023, the NRS retail network comprised approximately 28,300 active terminals scanning purchases at independent retailers including bodegas, convenience stores, liquor stores, grocers, and tobacco and sundries sellers nationwide, predominantly serving urban consumers.
December Retail Same-Store Sales Highlights
(Same-store sales, unit sales and transaction data refer to December 2023 unless otherwise noted)
- Same-store sales increased 5.5% from a year earlier (December 2022). Average sales per calendar day increased 5.3% compared to the preceding month (November 2023).
- Same-store sales in the preceding month (November 2023) had increased 3.1% compared to the year-ago month (November 2022). Average sales per calendar day in November 2023 had decreased 1.2% compared to the preceding month (October 2023).
- For the three months ended December 31, 2023, same-store sales increased 3.4% compared to the same three months in 2022.
- The number of items sold increased 7.4% compared to a year earlier (December 2022) and increased 3.7% compared to November 2023 on a per calendar day basis.
- The average number of transactions per store increased 5.1% compared to December 2022. The average number of transactions per calendar day increased 0.3% compared to November 2023.
- A dollar-weighted average of prices for the top 500 items purchased in December 2023 increased 1.2% year-over-year, a decrease from the 3.9% year-over-year increase recorded in November 2023.
Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)
“Our data indicates that NRS retailers enjoyed a busy holiday season with outsized gains in same-store sales and continued moderation in the rate of inflation on the most popular items. Same-store sales at retailers utilizing our POS platform increased 5.5% in December compared to December 2022, and posted a strong 5.3% increase on a per-day basis compared to November, while the average price of the top 500 items increased just 1.2% compared to December 2022.”
“NRS has reported same-store sales year-over-year growth across dollars, units, and traffic each month in 2023 and, in aggregate, its retailers have consistently outperformed the U.S. retail sector as a whole. This reflects the important roles that these mom-and-pop retailers play within their urban communities and the loyalty of their customers.”
Retail Trade Comparative Data
The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade same-store sales data excluding food service:
Over the past twelve months, the NRS network’s three-month moving average same-store sales have outpaced the US Commerce Department’s Advance Monthly Retail Trade data excluding food services by 4.5% percentage points, on average.
The NRSInsights data have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the U.S. Commerce Department’s retail data.
NRSInsights Reports
The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.
Same-store data comparisons of December 2023 with December 2022 are derived from approximately 159 million transactions processed through the 16,168 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of December 2023 with November 2023 are derived from approximately 209 million transactions processed through 23,443 stores.
Same-store data comparisons for the three months ended December 31, 2023 with the year-ago three months are derived from approximately 458 million scanned transactions processed through the stores that were in the NRS network in both quarters.
NRS POS Network
The NRS network comprises approximately 28,300 active POS terminals operating in approximately 24,500 independent retail stores. Its platform predominantly serves small-format, independent, retail stores including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. The network includes retailers in all 50 states and in 197 of the 210 designated market areas (DMAs) in the United States. Over the past twelve months, NRS’ POS terminals have processed $17.2 billion in sales through approximately 1.2 billion transactions.
About National Retail Solutions (NRS):
National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of IDT Corporation (NYSE: IDT).
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.
NRSInsights Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com
IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net
# # #
