Placer.ai: Retail sectors likely to rule this summer include…

Keep your eye on the three Bs this summer: Bats, brows and binders.

A new report by foot traffic analytics firm Placer.ai finds that there could be a big upside for brands in the beauty, sporting goods, and office supplies sectors in the coming months. 

“If you’re in the business of selling binders, brow pencils, or baseball bats, the current economy may look more promising than ever,” the report stated.

As of May, brands such as Ulta (9.5%), Sephora (1%), and Bath & Body Works (12.2%) are all seeing foot traffic numbers ahead of where they were in 2019, according to the report. 

“The beauty recovery is likely being driven by a confluence of trends that highlight the unique merchandise these brands provide,” said Ethan Chernofsy, VP marketing, Placer.ai. “First, an increasing focus on health and wellness has buoyed large segments of these product lines. Second, the return to school, work, and events has put makeup back on the agenda after these products were downgraded – if only somewhat – over the last “work from home” dominated year.

The report analyzed visits to Dick’s Sporting Goods and Hibbett Sports and found that both chains are seeing many more visits than they were two years ago. During May, visits to Hibbett were up 20.8%, and were up 14% at Dick’s Sporting Goods compared to May 2019. 

Placer.ai noted that while Office Depot and Staples still haven’t completed their comebacks, visit counts are trending in the right direction for both. For the week of June 7th, for example, visits were down around 2% at Staples and almost 9% at Office Depot compared to the same week in 2019 — the best numbers in months for either.

“With an especially exciting back to school season on the horizon, the sector could be situated to significantly overperform as students and professionals alike look to upgrade their home workspaces or stock up ahead of a new school year,” Chernofsky said.