The Gallup group recently performed some research tracking purchases made at stores, gas stations and restaurants, as well as on-line purchases. They found that Americans spend the most money on Saturdays, followed closely by Fridays, and they spend the least on Mondays and Tuesdays. This information can be extremely useful (even if you do not run a restaurant or retail store) because it tells us something about the buying mood and likelihood to buy. If people are more likely to buy on weekends and your business typically runs a skeleton crew at that time, then you may be leaving money on the table. And if the study results are accurate regarding on-line purchases, then your prospects are more likely to surf the web or call you with an inquiry at these higher buying times-so be prepared. 

 

 

Gallup also reported evidence of what they call the "paycheck effect," meaning that spending during typical payday weeks (around the beginning and the middle of each month, for those who are paid once or twice a month) is significantly higher than during those weeks without a payday. While this may or may not be relevant to your business, it is a great reminder to look at the buying patterns of your customers not just by year or by quarter, but by day, month and week. This knowledge could boost response on your next sale or special program.