SAN FRANCISCO — May 22, 2020 — According to the second weekly Small Business Reopen Report from Fivestars, one of America’s largest local commerce companies, states that have newly reopened such as Arizona and Florida, are seeing an increase in sales, while others like California fall behind. The findings show that Arizona’s sales jumped 35 percent compared to last week, followed by Florida with a 17 percent jump, Georgia at 11 percent, Texas at 10 percent, and California at 5 percent. The data shows that local economies are starting to demonstrate slow but consistent growth, as small business sales across the United States reach a near 50 percent recovery rate compared to this time last year.
A comprehensive overview of consumer spending, the weekly Small Business Reopen Report analyzed millions of aggregate sales and foot traffic data points from thousands of merchants in California, Texas, Georgia, Florida and Arizona from May 11-17, 2020, to the prior week of May 4-10, 2020, and from this time last year, May 13-19, 2019.
States that began reopening first are seeing a plateau in recent sales, but continue a slow and steady recovery
Over the past week, residents in reopened states continued to prove they are putting money back into their local economies. Among the five states analyzed, Arizona and Florida launched their reopening plans most recently, in the past 15 days. These two regions have seen a higher spike in sales over the past week as shoppers prove eager to return to their local shops.
However, small business sales in states like Georgia, whose reopening plan commencement was over 20 days ago, have started to plateau after an initial rush of shoppers. Still, all reopened states are slowly but steadily progressing on the path to recovery, leaving behind states like California, who have yet to open most businesses due to a more conservative reopening plan.
As select states reopen, Arizona and Florida see surge in apparel and spa sales
Overall, the spa and apparel industries are seeing a surge in sales as most states are recording the largest growth within these business verticals, compared to food services, pet stores, and smoke shops. Arizona saw the highest increase in apparel sales, at 133 percent. Compared to last week, California saw a 79-percent increase in apparel sales, followed by Georgia at 53 percent, Florida at 39 percent, and Texas at 12 percent.
With the exception of Georgia, where sales were up a mere 5 percent, spa activity is on the rise. Arizona saw a spike of 85 percent, Texas sales increased 53 percent, and California is up by 12 percent. Most shockingly, the beauty and spa sales in Florida spiked up drastically with a 498 percent increase in just one week.
A more detailed look at sales by state is as follows:
Arizona’s sales overall jumped 35 percent compared to last week, but are still down 46 percent overall compared to last year
- Apparel sales were up 133 percent from last week;
- Beauty and spa sales were up 85 percent from last week, but down 34 percent from the same time last year;
- Food service sales were up 16 percent from last week, but down 54 percent from the same time last year; and
- Tobacco and vape sales were up 10 percent from last week, but down 50 percent from the same time last year.
Florida’s sales overall jumped 17 percent compared to last week, but are still down 36 percent overall compared to last year
- Apparel sales were up 39 percent from last week;
- Beauty and spa sales were up 498 percent from last week, but down 87 percent from the same time last year;
- Food service sales were up 9 percent from last week, but down 47 percent from the same time last year;
- Pet service sales were down 11 percent from last week, and down 57 percent from the same time last year; and
- Tobacco and vape sales were up 4 percent from last week, but down 21 percent from the same time last year.
Georgia’s sales jumped 11 percent compared to last week, but are still down 53 percent overall compared to last year
- Apparel sales were up 53 percent from last week, but down 51 percent from the same time last year;
- Beauty and spa sales were up 5 percent from last week, but down 69 percent from the same time last year;
- Food service sales were up 13 percent from last week, but down 66 percent from the same time last year;
- Pet service sales were down 9 percent from last week, and down 76 percent from the same time last year; and
- Tobacco and vape sales were down 10 percent from last week, and down 35 percent from the same time last year.
Texas’ sales jumped 10 percent compared to last week, but are still down 48 percent overall compared to last year.
- Apparel sales were up 12 percent from last week, but down 39 percent from the same time last year;
- Beauty and spa sales were up 53 percent from last week, but down 54 percent from the same time last year;
- Food service sales were up 4 percent from last week, but down 65 percent from the same time last year;
- Pet service sales were up 12 percent from last week, but down 40 percent from the same time last year; and
- Tobacco and vape sales were up 12 percent from last week, but down 22 percent from the same time last year.
California’s sales stayed relatively level at 5 percent since last week, and are still down 61 percent overall compared to last year
- Apparel sales were up 79 percent from last week, but down 79 percent from the same time last year;
- Beauty and spa sales were up 12 percent from last week, but down 95 percent from the same time last year;
- Food service sales were up 2 percent from last week, but down 60 percent from the same time last year;
- Pet service sales were up 3 percent from last week, and up 3 percent from the same time last year; and
- Tobacco and vape sales were up 17 percent from last week, but down 49 percent from the same time last year.
“Small businesses are worth fighting for,” said Victor Ho, founder and CEO of Fivestars. “Our data is showing that we’re at a near 50% recovery rate across the country, up more than 15 percent from last week, which shows that we’re making progress in revitalizing our local economies. Small businesses are the soul of our country and if we come together to support them as local governments lift restrictions, we will all recover as one economy and one community.”
This is the second weekly Small Business Reopen Report from Fivestars. Last week’s report analyzed small business spending at physical stores in California, Texas, Georgia and Florida, and found an increase of 18 percent in sales compared to the prior weekend. Overall, the study found that despite sales being down 63 percent from this time last year, these select regions saw an economic benefit.
Posted May 22, 2020
Source: Fivestars
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