NRSInsights' May 2024 Retail Same-Store Sales Report

Core Insights - The NRS retail network consists of approximately 30,800 active terminals serving independent retailers across the U.S., primarily targeting urban consumers [1][9] - In May 2024, the NRS point-of-sale network reported a 4.7% increase in same-store sales compared to May 2023, indicating solid growth in retail performance [2][4][12] Sales Performance - Same-store sales rose 4.7% year-over-year in May 2024, following a 2.5% increase in April 2024 compared to April 2023 [4] - Month-over-month, same-store sales increased by 3.4% from April 2024 [4] - Over the three months ending May 31, 2024, same-store sales increased by 4.3% compared to the same period in 2023 [4] - The number of items sold also increased by 4.7% year-over-year in May 2024 [4] - Average transactions per store rose by 2.3% compared to May 2023 [4] Pricing Trends - The dollar-weighted average price for the top 500 items purchased increased by 1.6% year-over-year, marking the highest rate of price increases since November 2023 [4] Category Insights - Sales of smokeless tobacco products, particularly nicotine pouches, have seen significant growth, while traditional tobacco and cigarette sales have declined [5] - High-protein products, including nutritional shakes and snacks, have gained traction, correlating with the popularity of GLP-1 agonist weight loss drugs [6] Market Position - The NRS network's same-store sales growth has outpaced the U.S. Commerce Department's retail trade data by an average of 3.0 percentage points over the past twelve months [7] - The NRS platform processed $18.8 billion in sales through approximately 1.3 billion transactions in the twelve months ending May 31, 2024 [9][10]