Cherre’s Post

📊 Q2 2024 Retail Foot Traffic Insights from Cherre Partner Placer.ai! 📊 🚀 The positive momentum from Q1 continued into Q2 2024, with retail foot traffic showing robust growth. Stabilizing prices and a strong job market fueled cautious optimism among consumers, leading to significant boosts in weekly visits, particularly in June. 🌟 🛒 Key Highlights: Overall Growth: Retail visits rose by 4.2% YoY in Q2, with discount and dollar stores leading the charge with an impressive 11.2% increase. 💵🛍️ Grocery Stores: Chains like Aldi and Trader Joe's saw remarkable growth, with H-E-B and Food Lion outperforming the sector. 🥕🥦 Fitness: The fitness sector remained strong, with gyms like EōS Fitness and Crunch Fitness achieving significant YoY foot traffic gains. 💪🏋️♂️ Superstores: Wholesale clubs like Costco, Sam's Club, and BJ's Wholesale Club led the superstore category, with Target and Walmart also showing positive growth. 🏬🛒 Home Improvement: Despite industry challenges, chains like Harbor Freight Tools, Ace Hardware, and The Home Depot saw positive visit growth, highlighting consumer resilience. 🛠️🏡 Restaurants: Fast-casual and coffee chains experienced the biggest boosts, driven by chain expansions and special promotions. ☕🍔 🌐 Consumer Trends: Value & Essentials: Consumers prioritized value and essential goods, leading to strong performances in grocery and discount stores. Fitness Boom: Health-conscious consumers continued to flock to gyms, even in the face of inflation. Home Improvement: While discretionary spending on home improvement was subdued, necessary repairs and smaller projects drove modest growth. Dining Out: Despite economic uncertainties, restaurant visits remained up, with consumers balancing indulgence and affordability. 🔥 Looking Ahead: With back-to-school sales and summer milestones on the horizon, the retail sector is poised for continued success. Retailers and restaurants face challenges, but the positive foot traffic trends suggest plenty of room for optimism. 🌞📈 #RetailTrends #ConsumerInsights #Q22024 #RetailFootTraffic #PlacerAI #MarketGrowth #ValueShopping #GroceryTrends #FitnessGrowth #HomeImprovement #RestaurantGrowth #BusinessOptimism

🚀 Embracing #Retail Trends: How Consumer Budget Tightening Sparks Opportunities 🛍️ In the dynamic landscape of retail, understanding consumer behavior is key to seizing opportunities. Despite a 2.2% year-over-year rise in core retail sales, the recent 3.8% surge in core CPI highlights shifting priorities. Amid tightening budgets, certain categories shine, indicating where households allocate their resources wisely. 👗 Apparel, 📱 electronics, and 🍽️ dining out emerge as resilient segments. Despite price drops, apparel #sales rose by 1.3% in real terms, while electronics and appliance sales saw a 1.9% growth amidst a pricing decline of over 5%. Notably, restaurants and bars marked a 1.8% increase in sales, underscoring consumers' ongoing appetite for experiences. 💡 Thrifty consumer habits fuel brick-and-mortar resilience. During President’s Day weekend, households seized discounts on big-ticket items, driving a 1.5% monthly increase in electronics and appliance spending, the largest since July 2022. General merchandise sales also hit record highs, climbing by 0.4%. 📈 Forward momentum in dining experiences. With a 6.3% year-over-year #spending surge at restaurants and bars, backed by job growth, dining out remains a steadfast consumer priority. Consumers’ prioritization of dining out and experiences is likely to persist in March's numbers, aided by St. Patrick’s Day festivities and the NCAA basketball tournament. 💼 Retail Property Insights: Navigating Contrasting Dynamics 💼 While some retail giants announce closures, others embark on expansion strategies. Dollar Tree, Rite Aid, and Macy’s plan closures, yet Target eyes 300 new stores in the next decade, and Aldi aims for 800 expansions in half the time. Ross and Grocery Outlet also forecast growth, highlighting a diversified retail landscape. 🏬 Unanchored strip centers: A buyer's gem. With a mere 4.7% vacancy rate, the lowest since 2003, unanchored strip centers present an appealing investment opportunity. Offering diverse tenant bases and competitive rents, these properties position themselves as resilient assets amidst retail transformations. In conclusion, as consumer habits evolve, retail opportunities emerge. By staying attuned to shifting trends and leveraging the diverse retail landscape, investors and retailers alike can thrive in an ever-changing market. What are YOUR thoughts?

“2024 will see consumers’ understanding of their possessions as assets to resell, trade or swap swell to new proportions – necessitating that brands lean into restoration and evaluation like never before,” Katie Baron, Stylus’ content director, tells Retail Gazette, discussing some of the trends shaping the retail landscape in 2024. Read the full article: https://lnkd.in/eBms5JNc #retailtrends #trends2024

Customers' changing retail preferences and perceptions of the industry help to contribute to greater foot traffic, according to Placer.ai. #cstore #consumerinsights #marketresearch #CSNewsOnline

New Report Alert! Dive into #RetailStat latest Retail Real Estate & Retailer Health Analysis! A 40-page in-depth analysis covering: Financial insights, grocery sales estimates, vulnerable store counts and breakdowns, and spotlights on key retailers in apparel, department stores, grocery, fitness, pet care, restaurants, and more! Key Takeaways: - Consumer spending stayed strong in 2023, but disparities grew. Essentials and services thrived while pre-pandemic laggards saw more bankruptcies and downgrades. - Strong retail brands, fast casual restaurants, and discounters are expanding. - Early 2024 trends show continued demand, softened inflation, and conservative cost management. However, profitability pressures remain. Get the full report at retailstat.com 📈 #RetailRealEstate #RetailAnalysis #ConsumerTrends #RetailGrowth #MarketInsights #apparel #departmentstores #grocery #fitness #petcare #restaurants ICSC

Thanks to COVID and inflation, retail has irreparably shifted over the last few years. It may never be the same, but with some ingenuity, the industry is adapting to changes in consumer preferences and behaviors in 2024. #cre #commercialrealestate #cbc #investor #wirealtor

🛒🛍️ Exciting News in Retail! 🛍️🛒 Despite economic challenges, retailers are gearing up for growth and innovation in 2024! 📈 According to Levin Management Corp.’s (LMC) 13th annual Retail Sentiment Outlook Survey, optimism is soaring among retail store managers within LMC’s extensive portfolio. Over 30% of respondents are planning to expand their store footprint this year, marking the highest figure since 2017. Matthew Harding, CEO of LMC, highlights, “Our tenants are capitalizing on strong post-pandemic performance, seeing room for #growth amidst economic fluctuations. The enduring appeal of brick-and-mortar stores remains a key advantage for retailers.” The survey also reveals a commitment to adaptation and evolution. Nearly 45% of respondents are revamping their business models, focusing on areas such as enhanced customer experience, loyalty programs, and convenience initiatives. Harding emphasizes, “Experience, convenience, and loyalty incentives are the ‘secret sauces’ for retailers, distinguishing physical retail from its online counterpart.” Moreover, more than 25% of respondents are undergoing rebranding efforts, signaling a deep commitment to future success. 🔄 Return to Normalcy 🔄 In terms of sales performance, 2023 saw solid results, with 64.8% of respondents reporting meeting or exceeding 2022 levels for annual #sales, and 68% reporting similar or better holiday sales year over year. While reflecting a slight dip from previous years, these figures still demonstrate resilience within the industry. Staffing trends also indicate a return to stability, with fewer respondents hiring compared to previous years, suggesting a more fully staffed environment. 🔮 Expectations and Drivers 🔮 Looking ahead, optimism prevails, with 64.3% of respondents feeling positive about their stores’ performance in 2024. While challenges like inflation and economic uncertainty loom, retailers are focused on leveraging opportunities within their control. What are YOUR thoughts on the current state of #retail? 🛍️🛒

2024 Consumer Trends Impacting Retail: https://lnkd.in/dZiKFC7v #commercialrealestate #cretrends #cre #michigancommercialrealestate #cbcworldwide #realestatetrends #realestatenews

As more and more grocery shoppers are turning to club stores and mass retailers to manage costs, a new Advantage Solutions survey uncovers an emerging trend: Shoppers are buying in bulk and splitting the purchases with their family and friends. Our key findings include: 🛒 One-third of shoppers are buying in bulk and sharing. 🛒 Over 75% of these shoppers share with family members. 🛒 More than a third are visiting mass retailers more frequently, and 17% are shopping at club stores more. Learn more including insights from Jill Blanchard here: https://lnkd.in/g8fbghme #BulkShopping #Retail #ConsumerTrends #LeadWithInsights

As households across the US feel the financial pinch, the retail industry is experiencing a shift toward value and convenience. 🛍️ Our latest article by Awin Group Account Director Piper Donnelly on Chain Store Age explores how retailers are adapting to these changes - from the rise of affordable options to the resurgence of brick-and-mortar stores. 💡 Discover the key trends shaping retail in 2024 here: https://ow.ly/nWfv50T2NQt #RetailTrends #ConsumerSpending