Placer.ai: Discount, dollar stores led 2024 store visit growth
While retail visits in 2024 increased slightly compared to last year, several categories outpaced overall growth.
According to retail data firm Placer.ai’s 2024 Retail Foot Traffic Recap, overall retail foot traffic increased 0.4% year-over-year in 2024, with seven of the 12 months seeing increases. March (+3.2%), August (+2.5%) and February (+2.4%) saw the largest increases compared to 2023, while January (-3.3%), April (-2.4%) and September (-1.7%) saw the largest dips.
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Discount & dollar stores (+2.8%) and superstores (+1.7%) came out ahead of the overall retail pack in terms of visit increases year-over-year, showing consumers’ ongoing demand for value. The beauty & spa (+1.6%) and clothing (1.5%) sectors also saw visits increase.
The furniture & home furnishings category saw the steepest decline with negative visit trends from January to July 2024. But the category did finish strong with a 3.5% year-over-year increase in fourth quarter visits. Electronics (-3.5%), pet stores & services (-2.9%) and drug stores & pharmacies (-2.1%) also saw notable dips in visits compared to 2023.
On the state level, Maine (2.2%) and North Dakota (2.0%) outperformed in YoY retail visits in 2024. The strength of domestic migration and value-oriented retail categories in these states may have contributed to their ability to drive growth.
While most states saw modest retail visit growth, Maine (2.2%) and North Dakota (2.0%) topped the list in 2024. Placer.ai notes that in Maine, a recent increase in inbound domestic migration may have contributed to the state’s foot traffic success, while North Dakota’s large share of superstore and discount & dollar store traffic was likely behind its overall retail visit growth.
