NRSInsights Announces September Retail Sales Growth
September same-store sales increased 2.2% year-over-year
NEWARK, N.J. — NRSInsights, a leading provider of retail sales data and analytics sourced from the National Retail Solutions (NRS) point-of-sale (POS) platform, has released its comparative same-store sales report for September 2024.
As of September 30, 2024, the expansive NRS retail network comprised approximately 32,700 active terminals nationwide, serving around 28,400 independent retailers including bodegas, convenience stores, liquor outlets, grocers, and more. This network is predominantly focused on catering to urban consumers.
Highlights of September Retail Same-Store Sales
All sale data refers to September 2024, compared to September 2023, unless otherwise specified.
- Sales Performance:
- Same-store sales saw a year-over-year increase of 2.2%. In August 2024, sales had risen by 5.1% compared to the previous year.
- Compared to August, same-store sales decreased by 1.3%. August had recorded an increase of 1.7% over July.
- During the three months ending September 30, 2024, same-store sales rose by 2.3% compared to the same period last year.
- Units Sold:
- The count of units sold climbed by 2.9% year-over-year. August had noted a higher increase of 4.7% versus the previous year.
- Compared to August, the number of units sold only edged up by 0.2% after a prior increase of 1.3% in August over July.
- Average Transactions:
- The average number of transactions per store increased by 0.8% year-over-year. August reported a greater uptick of 1.8%.
- When compared to August, transactions dropped by 0.7%, following a previous increase of 1.5% the month before.
- Average Prices:
- The dollar-weighted average price for the top 500 items sold in September increased by 2.1% year-over-year, down from the 3.5% rise seen in August.
Competitive Retail Trade Data
Historical comparative data alongside the U.S. Commerce Department’s Advance Monthly Retail Trade sales excluding food services shows that NRS’s three-month moving average same-store sales performance outstripped the national data by 1.7 percentage points, on average.
The findings presented have not been adjusted for inflation, demographic shifts, seasonal purchasing patterns, or other variables that might impact the comparative sales analysis.
Insights from Suzy Silliman
“NRS recorded a year-over-year growth in same-store sales of 2.2% for September, although there was a drop of 1.3% compared to August,” explains Suzy Silliman, Senior VP of Data Strategy and Sales.
“We observed across several months a trend of declining sales in specific categories. Particularly, in September, sales in Chocolate and Confection, Vape products, Energy Drinks, Sports Drinks, and Sweet Snacks showed further decreases from a year earlier, with the rate of decline for Chocolate and Confection accelerating over previous months. Despite this, categories like Smokeless Tobacco, Tequila, and Prepared Cocktails remain strong performers.”
Silliman also noted notable sales increases in items tied to school lunches, including Lunchmeats, Cheese, Yogurts, and Variety Packs. However, some categories, especially those affected by natural disasters, displayed declines, particularly in Florida and Georgia.
Exploring NRSInsights’ Role in Retail
The monthly Same-Store Retail Sales Reports by NRSInsights serve to provide immediate insights into performance across a network of independent, urban retail stores. The comparisons for September 2024 versus the previous year account for transactions processed through approximately 19,400 stores, alongside transactions processed in approximately 27,400 stores comparing September to August.
The NRS platform is the largest POS terminal service for independent retailers in the U.S., processing over $20 billion in sales in the last twelve months, demonstrating the utility and reach of its services in the marketplace.
About NRS and Contact Information
National Retail Solutions is a subsidiary of IDT Corporation (NYSE: IDT) and operates a leading POS platform tailored to the needs of independent retailers across all 50 states. NRS provides transaction processing, business management tools, and invaluable insights into consumer behavior patterns.
NRSInsights Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
Email: suzy.silliman@nrsplus.com
IDT Corporation Contact:
Bill Ulrey
Email: william.ulrey@idt.net
Frequently Asked Questions
What was the year-over-year change in same-store sales for September?
Same-store sales increased by 2.2% compared to September of the previous year.
How did units sold in September compare to August?
Units sold increased by 0.2% compared to August 2024.
What major categories saw declines in sales?
Categories such as Chocolate and Confection, Vape, Energy Drinks, and Sports Drinks experienced declines in sales.
How does NRSInsights collect its sales data?
The data is collected from approximately 19,400 independent stores across the NRS network.
What role does NRS play in the retail market?
NRS provides essential services for independent retailers, including POS systems and analytics that help improve business strategies and sales performance.
