Target’s Traffic Takes Big Step Forward in Montana, Idaho
It’s part of Placer.ai’s migration report’s trend toward rural states with spiking populations.
Migration patterns around the U.S. — strengthened, in many cases, by the pandemic — are bringing to life smaller cities and boosting interest and investment in rural states, according to Placer.ai’s new white paper “2022 Migration Patterns: The Ripple Effect” report issued this week.
Smaller cities are growing in popularity, newcomers are boosting visits to their favorite stores, and rural states such as Idaho and Montana are being given a closer look.
Target has been a strong foot-traffic performer nationwide throughout the past few years, but it has increased dramatically in states with growing populations such as Idaho and Montana, “significantly above the brand’s nationwide average,” Placer.ai reported.
That pair saw the largest state-wide growth in the nation between July 2022 and July 2019, with population increases of 9% and 7.1%, respectively.
The Yo3Y July 2022 visits to Target were up 12.3% nationwide, but up 32.7% and 19.2%, respectively, in Idaho and Montana.
“And these trends are not one-offs, as all seven months of 2022 showed similar trends,” Placer.ai reported.
When There’s Only One Target in the Area
The Great Falls, Mont., CBSA grew 3.3% in July Yo3Y, a shift that drove a sizeable impact on visits to the only Target in that area.
So far, 2022 has been a hugely successful year for the Great Falls Target, with July 2022 foot traffic up 30.7% Yo3Y. The store’s trade area has also grown from 13.8 to 16.3 square miles.
In Twin Falls, Idaho, net population grew 5.8% in a July 2022 Yo3Y comparison, and the CBSA recently became an officially small metropolitan area as its population reached just over 50,000 people.
Foot traffic to the only Target in the area saw a 27.6% Yo3Y pop in July 2022. The store’s trade area size also increased from 46.1 square miles in H1 2019 to 52.3 square miles in H2 2022.
“So not only is this Target being visited far more frequently than previously, it’s also seeing more customers coming from farther away,” Placer.ai said.