For the retail sector, 2022 was a challenging year despite strong performances from many players, according to Placer.ai. The current year began well compared to the Omicron-plagued early weeks of 2002 and saw an uptick in foot traffic on a year-over-year basis by June.
Placer.ai’s new white paper “Retail at the Halfway Point of 2023” asks if we are beginning to see positive results from brands’ efforts to drive traffic and position themselves for long term growth?
The report highlights some of the successes seen in retail during H1 2023 as well as trends that will shape H2 progressions such as heightened demand for health and wellness products; ongoing strength among value focused retailers; major real estate takeovers powered by location analytics; return-to office trends impacting local retail patterns etc..
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