CardFlight Data Finds SMB Sales Growing, But Still Significantly Lower than Pre-Pandemic Levels

New data from ETA Member CardFlight assessing the impact of the ongoing COVID-19 pandemic on small businesses (SMBs) has found that sales improved over the last week, but still significantly trail pre-pandemic levels.

Sales increased by close to 13 percent last week, CardFlight data show, the strongest performance for SMBs in the past month. The number of transactions increased 18 percent week-over-week, the first double-digit increase since early March. Average transaction size is up 31 percent over a baseline set at the beginning of March. Retail sales increased by one third.

However, small businesses are still suffering. Despite these gains, total sales last week are down over 20 percent from the early March baseline. CardFlight says the data are encouraging because it shows that SMBs are continuing to find ways to drive business forward and adapt to social distancing guidelines.

Click here to read the full report, which is part of a series of analyses of card volume on 60,000 SMBs who use CardFlight’s products.

CardFlight CEO Derek Webster will moderate a panel on the Payments Past, Present and Future Track during TRANSACT Connect, a virtual networking event for the payments technology industry happening May 11-15, 2020. The panel will discuss best practices in migrating to Android smart terminals, and the role modern payment solutions play in managing social distancing practices in our future business environment. Click here to register for the event.