Retail sales through July season-to-date are flat to last year according to the US Census Bureau. However, the breakdown by category shows a sawtooth of performance across categories. Discount stores and warehouse clubs, grocery stores and home improvement stores have performed well amidst the COVID-19 pandemic with sales increases of 7.4%, 14.7% and 12.7% respectively. However, some segments of the retail industry have suffered greatly and many of these include categories where small businesses operate. Gift card shops and vintage clothing stores along with other miscellaneous stores are down 6.6%, clothing and accessories stores are down 41.5% and sporting goods and hobby stores are down 3.0%.
Small businesses have unique challenges when crises hit
Small businesses have unique challenges and are constantly concerned with