According to a study published in February 2010 by analytics firm Capital Access Network Inc., brick-and-mortar retail stores and restaurants experienced a sales decline in the fourth quarter of 2009 compared to the same period in 2008.
However, CAN's Q4 2009 Small Business Credit Sales Report found the rate of decline decreased from the third quarter of 2009. This indicates that a two-year trend of accelerating sales volume declines may be reversing.
Highlights from the report include:
Mark Lorimer, CAN's Chief Marketing Officer, said CAN's report features analysis of credit and debit card sales trends drawn from data on more than 50,000 U.S. brick-and-mortar businesses; those businesses average approximately $785,000 in annual gross sales and $24,000 in average monthly card processing volume. They also represent approximately 385 Standard Industrial Classification codes.
"This is the first quarter in two years that shows a slowing rate of year-over-year card sales decline," Lorimer said. "Of course, two data points don't make a trend, but it certainly provides a sign that card sales for the nation's small businesses may be turning around."
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