Small Business Sales Rise on Higher Prices and Retail Recovery
Event summary
- Fiserv's Small Business Index for June 2026 shows a 2.4% year-over-year increase in sales, driven by higher average tickets (+3.7%) and retail rebound.
- Retail sales grew 3.0% annually and 1.5% monthly, with foot traffic supporting the recovery across categories like Sporting Goods and Clothing.
- Restaurant sales edged up 0.2% year-over-year, but foot traffic declined (-3.1%), with Full-Service outperforming Limited-Service segments.
- Gasoline station sales surged 15.3% annually but dropped 4.7% monthly as easing prices reduced transaction volumes.
The big picture
Fiserv's data highlights a mixed recovery in small business sales, with retail rebounding while restaurant traffic declines. The shift toward goods spending suggests consumers are seeking value, but pricing remains a key driver of growth across sectors. This reflects broader trends of inflation-adjusted consumer behavior and the ongoing impact on discretionary versus essential spending.
What we're watching
- Inflation Resilience
- Whether small businesses can sustain growth as inflation persists, particularly in discretionary spending categories.
- Sector Rebalancing
- The pace at which consumer spending shifts back toward goods after 18 months of essentials-driven growth.
- Pricing Strategy
- How retailers and restaurants adapt pricing strategies amid stabilizing but still elevated inflation.