ShopKeep POS, a cloud-based POS software provider, released new data this week examining third quarter trends for brick and mortar retailers that use its iPad POS software. According to its data, those retailers experienced a 20-percent increase in same-store sales, with transactions up 13.6 percent.
Quick-service restaurants saw the highest overall sales by vertical market.
"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," Jason Richelson, founder and CEO of ShopKeep POS, said in a news release.
The top cities for rapid iPad POS adoption include Portland, Ore., Chicago and Seattle. Los Angeles and New York City are more established markets for this technology, and have the highest overall sales by city, but at slower growth rates.
The NYC 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.
The QSR category represents the top vertical group for this technology, with a 23-percent growth rate in revenue and a 15 percent growth rate in transaction.
It was followed by specialty food stores — 16 percent revenue growth and 10 percent transaction growth — and food trucks – 34 percent and 3 percent, respectively. 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. According to data compiled from the summer, for bakeries, transactions made by credit card were more than 90 percent higher in dollar value than cash transactions every day except on Fridays and Sundays. At coffee shops, transactions made by credit card versus cash were more than 60 percent higher in dollar value every day of the week.
The day of the week with the highest volume of transactions for coffee shops nationally is Friday. 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.
Average store sales were lowest on a Mondays for both coffee shops and bakeries. The average dollar amount per transaction on Monday is $5.89 and $9.76 respectively.
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