With many commercial real estate categories showing trends that are normalizing back to a pre-pandemic state, one category is holding on to its gains of the last few years: Superstores.
Placer.ai took a look at foot traffic for several of the most prominent and largest superstores: Walmart, Target, Costco Wholesale, BJ's Wholesale Club and Sam's Club and found that they experienced significant year-over-four-years, or Yo4Y, growth over the past four months.
Recent months did bring a year-over-year decline at most due to consumers cutting back. May 2023 showed a particular decline in visits compared to a year ago. But then for June and July, the numbers narrowed, suggesting that consumers may be less worried about inflation as they hit the stores again.
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