![]() ![]() For Walmart, foot traffic was down 0.9 year-over-year in the first six months of 2022. However, the breakdown by industry is less predictable and is a strong indicator of the recovery the sector is. The overall retail sector saw a 0.3 dip in foot traffic during the first half of the year. To learn how your business can use foot traffic analytics to analyze company performance, contact one of our location intelligence experts today. As the pandemic rises and falls, so does the foot traffic to retail stores. Therefore, it’s not too surprising that Lowe’s is partnering with Petco to offer pet supplies and services in its stores. For example, Menards offers its customers access to pet supplies, home decor, and grocery departments along with construction and home improvement supplies. Still, looking at weekly retail foot traffic for the season as a whole reveals that the real retail peaks of Q4 2022 occurred in the weeks before Christmas, as shoppers stocked up on last-minute gifts ahead of the holiday. ![]() Smaller home improvement brands often have a more diverse business model that goes beyond only offering home improvement goods and services. Retail, Foot Traffic In the ever-shifting retail landscape, maintaining an optimized business strategy requires insight into retail foot traffic trends, knowledge of consumer behaviors, and a keen sense of the unpredictable. Foot traffic for the week ending Novemwas 3. How can bigger home improvement chains get customers to shop in-store? They should consider emulating the in-store customer experience of regional and local home improvement stores. 06, 2021 More than a year-and-a-half after the pandemic’s upheaval to the retail industry, excess cash and pent-up demand are improving economic fundamentals and retail sales and foot traffic are on the rise. We predict that regional home improvement brands can expect more foot traffic than big brands, such as Home Depot and Lowe’s. What to Expect in 2022: Going Beyond Home ImprovementĪlthough foot traffic to these retailers is highly seasonal, home improvement stores will have some work to do in order to bring foot traffic back to 2021 summer levels. ![]()
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