NRSInsights’ March 2024 Retail Same-Store Sales Report

March same-store sales jumped 7.2% year-over-year, the highest rate of increase since June 2023

Inflationary pressures remained subdued - average prices increased 0.7% year-over-year

NEWARK, N.J., April 08, 2024 (GLOBE NEWSWIRE) -- 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 March 2024.

As of March 31, 2024, the NRS retail network comprised approximately 29,800 active terminals scanning purchases at independent retailers including bodegas, convenience stores, liquor stores, grocers, tobacco, and sundries sellers nationwide, predominantly serving urban consumers.

March Retail Same-Store Sales Highlights

(Same-store sales, unit sales, transactions, and average price data throughout this release refer to March 2024 unless otherwise noted. All comparisons are provided on a “per calendar day” basis to remove from consideration variability in the number of days per month.)

• Same-store sales increased 7.2% from a year earlier (March 2023). In February 2024, average sales had increased 3.5% compared to February 2023.
• Same-store sales per calendar day increased 6.6% compared to February 2024. Same-store sales per calendar day in February 2024 had increased 7.4% compared to January 2024.
• For the three months ended March 31, 2024, same-store sales per calendar day increased 3.3% compared to the three months ended March 31, 2023.
• The number of items sold increased 7.8% compared to March 2023. In February 2024, the number of items sold increased 4.4% per calendar day compared to February 2023.
• The average number of transactions per store increased 4.6% compared to March 2023. In February 2024, the average number of transactions per calendar day had increased 2.0% compared to February 2023.
• A dollar-weighted average of prices for the top 500 items purchased increased 0.7% year-over-year, a decrease from the 1.2% year-over-year increase recorded in February 2024.

Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)