A survey conducted by retail management software firm Vend has shown that sales volumes for North American independent retailers were 11% lower compared to the average sales globally in the last year.
The Retail Benchmarks Report focuses on North America, the UK, Australia, and New Zealand, and analysed data from more than 13,000 retailers.
Average monthly sales volumes per each store in North America were 31% less than sales volumes in the UK, and 16% lower than in Australia.
However, the survey reports that the amount spent in a retail store per transaction was 4% higher than the global average.
According to the survey, the average monthly revenue for North American retailers’ was equal to the global average, as well as 15% higher when compared to the UK.
Vend North America country manager Butch Langlois said: “It’s not an easy market for independent stores right now. However, it is encouraging to see healthy revenue and spending figures compared to other key markets.
“This shows that consumers are still clearly choosing to shop with independent stores – its simply value over volume – which is a testament to the unique products and experiences these retailers provide.”
Furthermore, the revenue of beer, wine, and spirits stores registered the highest revenue for North American retailers, followed by furniture stores, jewellery and luggage stores.
Other retail domains such as cosmetics and beauty stores, office supplies, stationery and gift stores reported the lowest average revenue for North America.