Retail traffic slowed in the first quarter of 2023 as consumers adjusted their spending habits to inflationary prices, according to Placer.ai’s new white paper, the Q1 Quarterly Index. Overall retail visits fell 4.2% year-over-year and some pandemic success categories – including grocery and superstores – saw visit dips too. This signals that 2023’s retail landscape will be different from recent years’.
The white paper reveals which sector is continuing its growth streak after an exceptionally successful 2022, where inflation has had the biggest impact on visits and how traffic to key retail categories is normalizing post-pandemic.
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As consumer spending habits shifted due to rising prices of goods during the first quarter of 2023, overall retail visits decreased by 4.2%, according to a new report from Placer.ai called The Q1 Quarterly Index . Even sectors that experienced success during last year’s pandemic saw drops in visitation rates; this indicates a shift away from what we have seen over recent years when it comes to shopping trends for this period of time moving forward..
In The Q1 Quarterly Index , readers can discover which sector continues its growth streak despite these changes as well as where inflation has had most influence on customer numbers plus how footfall at major retailers is returning back towards pre-pandemic levels .
