SOURCE: Stitch Labs

Stitch Labs

October 29, 2015 09:57 ET

Wednesday Best Sales Day; Consumers Beat Midweek Slump by Shopping

Stitch Labs Releases New Quarterly Report "The State of SMB Commerce" Highlighting Top Retail Trends

SAN FRANCISCO, CA--(Marketwired - October 29, 2015) - Stitch Labs, the leading inventory control and multichannel selling solution, released its first installment of The State of SMB Commerce Report today, sharing consumer behavior and retail trends from Q3 2015. Stitch Labs examined over 10 million orders from more than 8,000 small- and medium-sized businesses during Q3, gleaning insights such as highest and lowest sales days, impacts of shipping costs, and sales per capita by state and industry.

"Commerce trends reports are typically reflective of big-box retailers. There's very little data that more accurately represents the SMB retail market," said Bridge Mellichamp, Director of Data Science at Stitch Labs. "Our goal is to provide relevant insights, more closely depicting what these small- to medium-sized businesses experience. From this, we'll be able to provide greater value to not only our customers, but to all commerce-based business looking for more data to support their decision making."

Stitch will release these reports quarterly, highlighting information including quarter-over-quarter SMB commerce activity, geographic consumer behavior, as well as sales performance by industry (i.e. apparel, accessories, consumer electronics, etc.).

Findings from the report include:

  • Highest/lowest spending day: Q3's sales peaked on Wednesday, September 9 (two days after Labor Day), while Saturday, July 4, ranked as the lowest shopping day of the quarter.
  • Free shipping split: The average retailer had 49% of sales and 56% of order volume from orders with free shipping.
  • Oklahomans win for biggest spenders: Compared to the average U.S. resident, Oklahoma residents spent the most, and Mississippi residents spent the least.
  • Top spenders by industry/state: Rhode Island spent three times more on adult products than any other state, while Alaska spent six times more on sports, toys, and hobby items.

To see the full report, visit Stitch's blog.

About Stitch Labs

Stitch is an online inventory control solution that simplifies multichannel retail business. It automatically syncs inventory, orders and sales across channels, which provides retailers a holistic understanding of their operations. With Stitch, retailers save time, make better decisions, and grow their businesses. Stitch integrates with top sales channels such as Amazon, eBay, Etsy, Shopify, WooCommerce, and Square, as well as add-ons including Quickbooks, Xero, and ShipStation. To learn more, visit www.stitchlabs.com or reach out to our team at press@stitchlabs.com or on Twitter at @StitchLabs.

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