Commentary

Walking By: Consumer Foot Traffic Remains Sluggish In Many Categories

Consumers are facing mask fatigue. And they want excitement. But shopping-related foot traffic increased only nominally in Q2 YoY. And some categories fell, according to the Q2 2022 Consumer Trends Report, a study from Gravy Analytics. 

Here’s the overall foot traffic picture: 

  • Arts: +16%
  • Entertainment: +33%
  • Automobile: -22%
  • Restaurant & Food & Beer/Wine: -7%
  • Services: -8% 
  • Shopping: +4%
  • Transportation: +31%

The sluggish growth in shopping traffic could mean that, although consumers are going back to malls and shopping centers, they may still be doing much of their shopping online,” the study notes. 

Meanwhile, foot traffic to office buildings was 3% lower than it was in Q2 2021. 

The decline in automotive-related traffic is broken down as follows:

  • Auto Parts: -!5%
  • Auto Repair: -19%
  • Car Dealership/New Cars: -24%
  • Motorcycle Sales: -29%
  • Car Dealership/Used Cars: -35%

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But some areas of transportation are on the increase:

  • Airports: +67%
  • Train: +25%
  • Public Parking: +16%
  • Bus: +9%
  • Rental Car Locations: -16%

Despite the above, people are going to resorts although much less so to hotels and motels:

  • Golf Resorts: +29%
  • Destination Resorts: +21%
  • Hotels: +13%
  • Inns: +4%
  • Motels: -16%
  • Other: -9%

And they are gravitating toward outdoor fun:

  • Entertainment/Theme Park/Water Park: +73%
  • Recreation Centers: +49%
  • Athletics and Sports: +29%
  • Parks/Forests/Monuments/Wilderness: +21%
  • Nature: -2%
  • Outdoor Entertainment/Sports Areas: -3%

Meanwhile, here are some retail shopping categories:

  • Arts & Crafts Supplies: +2%
  • Sports: -4%
  • Bookstore: -8%
  • Office Supply: -8%
  • Pet Store: -11%
  • Gift & Care Shop: -13%
  • Hobby: -23%
  • Jewelry Store: -28%

What kind of food are they going out for? Not for everything. The traffic volumes:

  • Grill Restaurant: 15%
  • Bistro: 14% 
  • Italian Restaurant: 1% 
  • American Restaurant: -1%
  • Buffet: -3%
  • Coffee Shop: -8%
  • Chinese Restaurant: -15%
  • Fast Food Restaurant: -18% 
  • Donut Shop: -20%
  • Ice Cream Shop: -25% 

Despite the mixed numbers in some areas, Gravy predicts that “Americans are carefully considering where they spend their money and reallocating their discretionary income.” Far from a recession, “an upswing may be in our future,” it concludes. 

 

 

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