National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Inflation, Consumer Shifts Mean Opportunity for Some Retailers
After two years of pandemic restrictions, 2022 was supposed to be the year of brick-and-mortar retail’s comeback. That is, until inflation and high gas prices started to negatively affect retail foot traffic in the spring, with the impact continuing through much of the year.
However, Placer.ai reports that “although the current economic headwinds are undoubtedly impacting consumers, the ongoing inflation and shifts in consumer shopping habits are also creating new opportunities and setting up certain brands and categories for success.”
Placer.ai’s Q4 Quarterly Index Report presents location intelligence data for beauty & self-care brands, discount & dollar stores, superstores, grocery brands, malls, fitness chains, and offices. Using yearly, quarterly, and weekly visit patterns, the report reveals how these key categories fared in 2022 and what their performance says about consumer behavior and brick-and-mortar retail in the new normal.
The report notes that several key retail categories including discount & dollar stores, grocery chains and superstores saw visits dip year-over-year. Yet, the analytics firm says, “adopting a wider lens and comparing foot traffic not just to the unusually strong 2021 but also to pre-pandemic 2019 paints a significantly more optimistic picture” for these retail categories.
- ◦Economy
