What is the slowest month for retail sales? (2024)

What is the slowest month for retail sales?

Monthly retail and food services sales. Estimates are shown in millions of dollars. Despite the fact that January is typically the slowest retail period of the year, research shows January sales rose by 6.4% in 2022 over 2021—likely due to the easing of COVID-19 restrictions.

What are the slowest months for online sales?

Months from January to March are always considered to be the slowest in terms of sales in eCommerce. Adding Covid-19 to the mix, experts predict some tough challenges from the economy in 2021.

Which months report the highest sales in retail?

The fourth quarter—the months between October and December—typically has the highest level of sales, due in part to the holiday shopping season. The most seasonal retail sectors include electronics, sporting goods, online retail, and clothing. U.S. Census Bureau.

Is July a slow sales month?

Historically, July is a slow month in retail. School's out. People are saving for their vacations, or they're busy being away on those vacations. What may feel like a blissful month of relaxation for many consumers is a sluggish month for retailers.

Do sales go down in January?

After increased shopping during the holiday season, the months of January and February are some of the lowest spending months of the year for the average U.S. consumer.

Is March slow for retail?

Nonstore retail sales that mostly made up of online sales dropped by 6.4% in March, the second straight month of declines, following a 3.5% drop in February. Sales at general merchandise stores surged by 5.4% after a disappointing 0.2% decline in the prior month.

Why is January a slow month for businesses?

January is traditionally one of the most difficult because everyone is coming down off the holiday high. June and July are slow mainly because most people stay busy with vacations and outdoor work during the summer months.

Are retail sales down in 2022?

Retail Sales Down For First Time In 2022 While Gas Sales Surge 4%

Why is the 4th quarter the most important month for retailers?

For some types of businesses, the fourth quarter can account for up to 75% of their annual sales. In challenging years like 2020, not only does the fourth-quarter shopping period hold more importance, but it also offers companies a chance to recoup some of the losses of the past months.

Why retail sales are down?

Retail Sales Fell in May as Consumers Confront Soaring Inflation and Higher Interest Rates. Spending on gasoline and food soared as overall retail sales fell. June 15, 2022, at 9:01 a.m. Retail sales fell 0.3% in May, as consumers faced much higher prices for gasoline and food, the Census Bureau reported on Wednesday.

What is the slowest time of year for retail?

When are the slowest months for retail sales? The first few months of the year are typically the slowest retail months. After spending significant sums in the months leading up to the holidays, some shoppers have the blues after receiving their credit card bills in January.

Is August a slow month for retail?

While the month may be slow in terms of customer count - unless you do great back-to-school business - August is the perfect time to examine your revenues and expenses through the rest of the year. Many demands will be placed on your cash flow as the holiday shopping season heats up.

Do sales go down in summer?

Business Know-How

Families might love summer because it means time off from school and long weekends at the beach. However, small business owners are less likely to appreciate this time of year. In fact, summertime is infamous in the marketing world because it tends to correspond with a serious sales slump.

What will happen to the market in 2022?

But the major indexes will likely end 2022 higher than they stand now, as rock-bottom share prices begin to promise a buy-low opportunity that outweighs the risk of further decline, the experts said. As investors eventually jump off the sidelines, the market will stabilize and begin to recover, they predicted.

Are January sales as good as Black Friday?

You can often find better prices during the January sales compared to the Boxing Day sales. The January sales is as well known as Black Friday and the Boxing Day sales, and just as many shops participate as during the other two big campaigns.

Are retail sales falling?

Retail sales posted unexpected 0.3% decline in May as inflation hammers consumers. Retail and food service spending posted a surprise 0.3% decline in May, below the estimate for a 0.1% increase. Spending at gas stations led but was offset by declines elsewhere, according to numbers that are not adjusted for inflation.

Is April a slow month for sales?

General Retail Sales: April Is the Slowest Month.

How can I increase sales in January?

What are J months?

Those summer J-months: June and July arrive at the same time every year.

What are the best months for business?

The study also found that the most productive months of the year are September, October and November.

What are the worst months for restaurants?

Every restaurant experiences a slow season and for many, it's the post-holiday lull of January and February. While seasonal sales swings are inevitable, proactive measures can get more people coming through the doors.

How do you survive in slow season?

Are retail sales slowing?

Excluding autos and gas, the pace of retail sales slowed to a 0.1% gain in May, compared to 0.8% the prior month. Data also showed a dramatic slowdown in online shopping, with a 0.1% decline in activity during the month of May compared to the prior month's 0.7% increase.

How is retail doing 2022?

Retail sales are expected to grow between 6% and 8% in 2022, as consumers spend more on services instead of goods and cope with inflation, the National Retail Federation said on Tuesday. That annual forecast represents a slower pace of growth for retailers than 2021, but it's higher than the pre-pandemic growth rate.

Who is the nation's largest retailer?

Which quarters are most profitable?

Polling 300 U.S. small businesses, our survey found that one-third said the fourth quarter is the most profitable time of the year for their business. The survey also revealed 42 percent of small businesses report costs increasing as high as 25 percent in the same time period.

Why is Q4 so important?

The last quarter of the year is often considered the most important. It's when goals become realities and tough decisions are made. Ideally, you will come out of Q4 with morale through the roof and your team excited to come back and start the next year just as strong.

What percentage of retail sales occur in December?

Overall, holiday sales in November and December have averaged about 19 percent of annual retail sales over the last five years, but the figure can be higher for some retailers.

How is retail doing?

Retail sales grew on average 3.7% annually from 2010-2019. As we emerge from the global pandemic, retail is growing at levels not seen in over 20 years. Retail sales grew by 7% in 2020 and by over 14% in 2021. NRF forecasts that sales will grow by between 6% and 8% to more than $4.9 trillion in 2022.

Is consumer spending Down 2022?

US Inflation-Adjusted Consumer Spending May 2022: First Decline This Year - Bloomberg.

How is retail performing?

Today, retail is booming, riding a wave of pent-up consumer demand. The head-spinning turn has taught retailers some important lessons. They learned what it took to survive a crisis and what they need to do now to capitalize on a strengthening economy.

What are the best months for online sales?

However, November and December are the biggest two months of the year by some distance in terms of sales volumes in both 2019 and 2020. The biggest online sales events occur during this two month period.

What is the slowest time of the year for retail?

When are the slowest months for retail sales? The first few months of the year are typically the slowest retail months. After spending significant sums in the months leading up to the holidays, some shoppers have the blues after receiving their credit card bills in January.

Is April a slow month for sales?

General Retail Sales: April Is the Slowest Month.

Is summer slow for ecommerce?

Statistically, the summer months generate the least amount of ecommerce sales, dipping by as much as 30% compared to December. Being able to determine the slower months for online sales for your business is half the battle.