Foot traffic at places like Walmart and Costco is down
Are we returning to normal shopping habits?
Could our shopping habits be returning to normal? Is the coronavirus stockpiling and panic-buying finally subsiding? It’s probably too early to tell for sure, but there has been some good news in that department.
Companies including Wamart, Costco and Target are seeing their customers fall for the first time in weeks.
An artificial intelligence company called Placer.ai published a report showing that the three retailers have had a decline in foot traffic for the first time since the outbreak started to gain notoriety in the US.
Sam's Club was the only one of the stores analyzed that saw year-over-year growth, but Placer noted that this was "likely to be as much an indication of the company’s overall resurgence."
The Placer post questioned whether the declines in foot traffic are actually a result of the social distancing guidelines that many stores now have in place, or whether it’s because consumers are now stocked up on everything they need and are making fewer trips to the stores.
"There is a downside to stocking up for the long haul. Once you have all the things you need, there is little need for more visits," wrote Placer's VP of Marketing, Ethan Chernofsky.
“The positive here is that the data indicates that as the situation improves, and doesn’t worsen, consumer behavior tends to return to more normal patterns. Should this trend hold, it’s a very strong endorsement for those who believe that wider retail activity could quickly return to previous levels should the preventative measures being enacted serve their ultimate goal.”
🛒 What's the situation where you are? Are your stores less busy? 🛒