Same-store sales at NRS retailers during September increased 6.1% compared to September 2022
Compared to August 2023, same-store-sales increased 1.7%
NEWARK, N.J., Oct. 09, 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 September 2023.
As of September 30, 2023, the NRS retail network comprised approximately 26,700 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
- Same-store sales increased 6.1% from a year earlier (September 2022). Average sales per calendar day for September increased 1.7% compared to the preceding month (August 2023).
- Same-store sales in the preceding month (August 2023) had increased 6.5% compared to the year-ago month (August 2022). Average sales per calendar day in August had decreased 2.3% compared to the preceding month (July 2023).
- For the three months ended September 30, 2023, same-store sales increased 5.7% compared to the three months ended September 30, 2022.
- The number of items sold during September 2023 increased 6.7% compared to September 2022 and the number of items sold per calendar day in September increased 1.8% compared to August 2023.
- The average number of transactions per store in September 2023 increased 3.2% compared to September 2022. The average number of transactions per calendar day in September increased 0.5% compared to August 2023.
- A dollar-weighted average of prices for the top 500 items purchased in September 2023 increased 5.3% year-over-year, an increase from the 3.8% year-over-year increase recorded in August 2023.
Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)
“Same-store sales at retailers using our POS platform continued to increase strongly in September, rising 6.1% from September 2022’s level and 1.7% on a sales-per-calendar-day basis compared to August 2023. The data reflected an increase in inflationary pressures for the second consecutive month. The top-selling 500 items had a weighted year-over-year price per unit increase of 5.3% in September compared to 3.8% increase in August and 1.6% increase in July.
“NRS stores saw strong increases in the unit and dollar sales of ‘baking’ and ‘cooking’ related grocery categories in September 2023 versus last year including double-digit growth in baking staples and supplies, baking mixes, sugar/sweeteners, pasta/rice/grains, herbs/seasoning/spices and sauces/gravy/marinades. Milk and dairy alternatives sales increased 25% from September of last year in our same stores’ scans.
“The growing popularity of pre-made wine and spirits-based cocktails once again drove strong year-over-year increases in Wine & Spirits sales during September, while alcoholic beverage mixer sales decreased.
“Our urban retailers’ three-month rolling year-over-year same-store sales increase of 5.7% has been, on average, 5.1% above the U.S. Commerce Department’s comparable retail same-store metric over the past ten months.”
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 ten 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 5.1 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.
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 September 2023 with September 2022 are derived from approximately 157 million transactions processed through the 15,215 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of September 2023 with August 2023 are derived from approximately 214 million transactions processed through 22,252 stores.
Same-store data comparisons for the three months ended September 30, 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 26,700 active POS terminals operating in approximately 23,200 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 196 of the 210 designated market areas (DMAs) in the U.S. Over the past twelve months, NRS’ POS terminals have processed $16.3 billion in sales through approximately 1.16 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 manage operations more effectively. 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.
SVP, Data Strategy and Sales at NRS
National Retail Solutions
IDT Corporation Contact:
# # #