Same-store sales at NRS retailers in December 2022 increased 9.8% compared to December 2021 and 6.6% compared to November 2022
NEWARK, N.J., Jan. 06, 2023 — 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 2022.
As of December 31, 2022, the NRS retail network comprised approximately 22,000 terminals scanning purchases at independent retailers including bodegas, convenience stores, liquor stores, grocers, and tobacco and sundries sellers nationwide, predominantly serving urban consumers.
Retail Same-Store Sales Highlights for December 2022
(Sequential comparisons are influenced by seasonal factors)
- Same-store sales increased 9.8% from a year earlier (December 2021) and 6.6% compared to November 2022;
- Same-store sales in the preceding month (November 2022) had increased 11.4% compared to the year-ago month (November 2021) but had decreased 4.2% compared to the previous month, (October 2022);
- For the full year 2022, same-store sales increased 8.2% compared to 2021;
- For the three months ended December 31, 2022, same-store sales increased 9.5% compared to the fourth quarter of 2021;
- The number of items sold during December 2022 increased 8.0% compared to November 2021 and increased 4.7% compared to November 2022;
- The average number of transactions per store in December 2022 increased 3.7% compared to December 2021 and increased 0.8% compared to November 2022;
- A dollar-weighted average of prices for the top 500 items purchased in December 2022 increased 5.7% year over year, an increase compared to the 4.5% year-over-year increase in November 2022.
Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)
“NRS same-store sales for December increased significantly from both December a year ago and from November’s levels, as did costs for most popular items. Across our data, there was little to suggest that consumer demand or inflationary momentum has cooled, although the rate of price increases remains below the headline consumer price index inflation rate.
“Sales growth, both year over year and sequentially, was led by holiday entertaining and party categories. Alcoholic and non-alcoholic beverages, mixers, salty and sweet snacks and baking categories generated robust increases whether gauged by dollars, baskets or units sold. Sales of prepared cocktails surged impressively, but their expansion did not come at the expense of spirits, seltzer, beer, wine, or other beverage categories, all of which continued to increase from year-ago levels.”
Retail Trade Comparative Data
The table below provides historical comparative data with the US Commerce Department’s Advance Monthly Retail Trade data excluding food service:
Over the prior 12 months, the NRS same-store retail sales data has exhibited a statistically significant correlation with the US Commerce Department’s Advance Monthly Retail Trade data excluding food services (r=.915, p = 0.000030).
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 US Commerce Department’s retail data.
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 2022 with December 2021 are derived from approximately 121 million transactions processed through the 12,284 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of December 2022 data with November 2022 data are derived from approximately 166 million transactions processed through 18,182 stores.
Same-store data comparisons for the fourth quarter of 2022 with the fourth quarter of 2021 are derived from approximately 346 million transactions in both quarters, and comparisons for the full year 2022 with the full year 2021 are derived from approximately 1.05 billion transactions processed in both years.
NRS POS Network
NRS operates the largest POS network for independent retailers in the US, aggregating data from approximately 22,000 active POS terminals operating in approximately 19,000 independent retail stores. Its platform predominantly serves urban, 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 193 of the 210 designated market areas (DMAs) in the US. Over the past twelve months, NRS’ POS terminals processed $13.3 billion in sales through approximately 953 million transactions.
About National Retail Solutions (NRS):
National Retail Solutions operates a point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers and bodega owners nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and special offers to independent retailers. 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.
SVP, Data Strategy and Sales at NRS
National Retail Solutions
IDT Corporation Contact:
# # #