ShopKeep Q3 Brick and Mortar Retail Sales Up 20 Percent - Indicates Positive Outlook for Fall Retail Sales

NEW YORK--(BUSINESS WIRE)--Q3 Same store sales for brick and mortar retailers using iPad point of sale (POS) software increased by 20 percent, with transactions up 13.6 percent over Q3 2012. This is according to data from the ShopKeep Small Business Insights Center, released today by ShopKeep POS, the cloud-based POS software designed by a retailer for small businesses. The data indicates new businesses are steadily growing and maturing using cloud-based business management software.

“We’ve seen a consistent trend all year with same store sales for our retailers sitting up around 20 percent,” said Jason Richelson, Founder and CEO, ShopKeep POS. "Our customers are typically new stores, a younger demographic and early adopters of technology. They are not afraid to try new things and embrace change, and you can see that reflected in their business performance. Retail technology is evolving incredibly quickly and those stores that are evolving with it are clearly seeing great results."

Q3 2013 Report Highlights: The following data indicates average growth in Q3 2013 same store sales over Q3 2012.

Average Revenue and Transactions Growth In Order of Highest Overall Sales
Top Cities - All Stores	$ Revenue Growth	$ Growth Rate	# Transaction Growth	# Growth Rate
New York City	$15,340	14%	1274	8%
Los Angeles	$22,974	30%	1664	23%
Seattle	$26,202	42%	2046	33%
Portland	$24,827	47%	2106	30%
Chicago	$12,644	21%	553	6%
Manhattan vs. Brooklyn - All Stores	$ Revenue Growth	$ Growth Rate	# Transaction Growth	# Growth Rate
Brooklyn	$17,682	13%	1520	9%
Manhattan	$13,467	16%	1077	8%

• Markets including Portland, OR; Chicago, IL; and Seattle, WA are emerging as rapid adopters of cloud-based POS, and saw the highest sales growth by city over 2012.
• More established markets including Los Angeles and New York City saw the highest overall sales by city, but lower growth rates.
• The borough of Brooklyn, a region of early adoption with the highest concentration of iPad POS systems nationally, saw overall higher total revenues than Manhattan and Los Angeles.

Average Revenue and Transactions Growth In Order of Highest Overall Sales
Top Vertical Groups	$ Revenue Growth	$ Growth Rate	# Transaction Growth	# Growth Rate
Quick Serve Restaurants	$18,197	23%	1576	15%
Specialty Food Stores	$11,784	16%	404	10%
Mobile Food Vendors	$21,410	34%	156	3%
Specialty Services	$10,480	23%	429	25%
Specialty Retail Stores	$8,663	18%	254	20%
Top Store Types	$ Revenue Growth	$ Growth Rate	# Transaction Growth	# Growth Rate
Coffee Shop	$18,732	24%	2212	16%
Bakery	$20,015	27%	1796	24%
Quick Serve Restaurants Group - Top Cities	$ Revenue Growth	$ Growth Rate	# Transaction Growth	# Growth Rate
Brooklyn	$21,097	12%	2228	8%
Los Angeles	$32,090	28%	2858	22%
Manhattan	$17,402	15%	2705	13%

• Quick service restaurants as a group in Los Angeles grew at around twice the rate of those in Brooklyn and Manhattan.
• Quick service restaurants saw the highest overall sales by vertical market.
• Food trucks enjoyed the largest revenue increase by vertical, although transaction volume remained flat.
• Coffee shops and bakeries enjoyed the largest sales increase by store type.

To celebrate the largest growing retailers of Q3, here are some summer insights from coffee shops and bakeries across the country:

• CHARGING IT: For bakeries, transactions made by credit card were over 90 percent higher in dollar value than cash transactions every day except on Friday and Sunday. At coffee shops, transactions made by credit card versus cash were more than 60 percent higher in dollar value every day of the week.
• FRIDAY CAFFEINE FRENZY: The day of the week with the highest volume of transactions for coffee shops nationally is Friday.
• SPLURGING ON SATURDAYS: Coffee shop customers on average spent almost 20 percent more in dollar value on Saturdays compared to Mondays, and bakery customers spent 32 percent more.
• CHEAP MONDAYS: Average store sales were lowest on a Monday for both coffee shops and bakeries. The average dollar amount per transaction on Monday is $5.89 and $9.76 respectively.

About the ShopKeep Same Store Sales Index (SSSI)

The above SSSI data is based on average Same Store Sales for ShopKeep POS customers nationwide during Q3 2012 and Q3 2013. Data is based on a group of 556 customers that were using ShopKeep during both time periods. Measurements are based on average $ sales and average # volume of transactions.

Detailed coffee insights are based on a sample size of 775 coffee shops across the U.S. and Canada, which are all ShopKeep POS customers. Insights are based on sales and transaction data gathered between September 2012 and September 2013.

Detailed bakery insights are based on a sample size of 509 bakeries across the U.S. and Canada, which are all ShopKeep POS customers. Insights are based on sales and transaction data gathered between September 2012 and September 2013.

About ShopKeep® POS

The simplest way to make smarter business decisions, ShopKeep POS provides cloud based point-of-sale software for managing retail shops and restaurants. Founded and designed by a merchant, we understand the challenges of growing a retail business. We’re dedicated to supporting our customer’s success with intuitive, reliable software. At only $49/month, ShopKeep POS allows retailers nationwide to set-up their registers in minutes, accept cash and credit cards with their choice of processor, view real-time sales from their phone or web browser with our dashboard app, and easily track inventory and staff. Most importantly, our retailers can call our award-winning customer care team seven days a week and know we’ll be there. Everything we do is about supporting retailers. Find out more and sign up at www.shopkeep.com