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Traffic Held Strong for Some Retail Sectors Amid Q1 Slowdown
After a strong start to the year – especially by comparison to an Omicron-impacted 2022 – retail traffic slowed somewhat as consumers continued adjusting their spending habits to inflationary prices, Placer.ai reported. Nonetheless, some retail sectors continued to make an impressive showing as the first quarter of 2023 progressed.
“Overall retail visits fell 4.2% year-over-year, and some of the pandemic’s strongest categories – including grocery and superstores – also saw visit dips,” according to Placer.ai’s new white paper, the Q1 Quarterly Index. “And while some of the traffic decrease is due to the success – and the unique behaviors – of these sectors last year, the drops also signal that 2023’s retail landscape is going to look different from what we’ve seen in recent years.”
In the new white paper, you’ll find out which sector is continuing its growth streak after an exceptionally successful 2022, where inflation is having the biggest impact on visits and how traffic to key retail categories is normalizing post-pandemic.
- ◦Economy
