In 2024, U.S. retail foot traffic saw a modest year-over-year (YoY) increase of 0.4%, signaling consumer resilience despite challenges such as weather disruptions and calendar shifts. This growth highlights the continued prioritization of value-driven shopping by consumers.
Key factors affecting foot traffic:
- January 2024: Severe winter weather negatively impacted foot traffic across large parts of the country.
- April 2024: The Easter holiday shift led to a decline in visits.
- September and December 2024: These months saw fewer Saturdays compared to 2023, affecting the YoY comparison.
Despite these setbacks, the overall retail landscape remained steady, offering hope for further growth in 2025 if inflation continues to ease.
Top performing retail categories:
- Discount and Dollar Stores: These retailers saw the strongest growth, with foot traffic up by 2.8% YoY, reflecting the consumer preference for value-oriented shopping.
- Superstores: These also performed well, with a 1.7% YoY increase in visits.
On the other hand, discretionary categories, like Furniture & Home Furnishings, faced significant declines earlier in the year. However, the sector showed a promising 3.5% YoY increase in Q4 2024, signaling a potential rebound.
State-level variations:
Retail foot traffic growth varied significantly across states:
- Maine: Retail visits grew by 2.2% YoY, bolstered by domestic migration trends.
- North Dakota: With a 2.0% YoY increase, the presence of discount stores and superstores played a significant role in driving foot traffic.
Other states experienced more modest growth, highlighting that retail success in 2024 was not uniform across the country.
The road ahead
The overall increase in retail foot traffic and the strong performance of value-oriented categories suggest a steady recovery in consumer behavior. Should inflation continue to ease, 2025 could see further gains across the retail sector, particularly in value-focused retail categories, as consumers prioritize affordability during uncertain economic times.
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