Initial data from the start of New York City's reopening during the COVID-19 pandemic shows positive signs for retailers and other industries hit hard by shutdowns, according to local data provider Placer.ai.
Retail industry watchers are fervently tracking the market after shutdowns aimed at preventing the spread of the virus closed the doors of brick-and-mortar shops, cutting a central part of retail business. But date from New York, dating to mid-June, is offering hope for those seeking an economic rebound, according to a recent blog by Ethan Chernofsky, the vice president of marketing for the analytics start-up.
Overall retail visits in New York were down 22 percent year over year the week of June 15th, compared to visits up 5 percent year over year for the week of March 9th. However, Placer.ai noted, the June numbers "showed a marked improvement on previous weeks" and was the strongest showing for retail markets since the March 9 data.
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Jacqueline Thomsen
Jacqueline Thomsen, based in Washington, is a reporter covering D.C. federal courts and the legal side of politics. Contact her at [email protected] and follow her on Twitter @jacq_thomsen.
