Growth at small retailers slowed to 6.0% year-over-year in July 2012, still outperforming national and regional chains on a year-to-date basis, but showing the weakest growth in the past 12 months. MasterCard Advisors, in partnership with Wells Fargo, shared this macroeconomic indicator in the MasterCard SpendingPulse report on small businesses, released August 14, 2012.
“While this is a notable slowdown in the [small business] category’s year-over-year growth, from prior months and from the first quarter’s very robust 9.1% growth,” stated Michael McNamara, Global Solutions Leader, MasterCard SpendingPulse, “we’re still seeing small retailers outperforming total U.S. retail.”
At an 8.2% increase year-to-date, small retailers outperformed total retail sales growth of 5.9%, the study revealed.
MasterCard Advisors classifies small retailers as those with less than $35 million in annual sales ― most with less than $10 million ― and fewer than 200 employees. Small retailers account for more than $100 billion in retail sales, excluding automobiles per month, according to MasterCard Advisors, or approximately one million retail locations representing one third of total U.S. retail sales.