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Discount Stores Lead Retail Market as Consumers Seek Value

Overall performance varied by category and geography.

By Kristen Smithberg | January 10, 2025 at 07:13 AM

The retail sector in 2024 outperformed 2023 with discount stores leading the way, as visits increased during most months last year, according to an analysis by Placer.ai. The sector’s performance indicates a promising foundation for the new year, the firm said.

Sporadic gaps in visits during 2024 can be attributed to extraneous circumstances rather than a consumer slowdown. For example, the year’s largest year-over-year retail visit gap was in January and was tied to severe winter weather across large areas of the country. Calendar shifts created visit drops in April due to the timing of Easter and September and December, which both had one less Saturday than in 2023, the analysis said.

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