In-person retail back, with emphasis on value
November 11, 2022
In-person shopping is back with a vengeance.
That’s according to a report from location intelligence provider Gravy Analytics, which found that foot traffic to shopping destinations was 15% higher during the third quarter of 2022 compared to the year-ago period. Department stores saw the biggest (49%) increases in foot traffic during the period, followed by outlet malls (38%) and malls (37%).
Data from Gravy’s “Q3 Consumer Trends Report” also found that shoppers seem to be doing more of their shopping at wholesale retailers such as Costco and Sam’s Club. Compared to the third quarter of 2021, foot traffic to Sam’s Club, Costco, and BJ’s Wholesale was at least 25% higher this year, indicating inflation is having a deep impact on the grocery category, the report said.