Compared with the same period last year, in-store foot traffic is up 12.5%, according to recent data from Small Business Trends, with foot traffic increasing by 28.5% from January to March. The rise in foot traffic was likely jump-started by the COVID-19 vaccine rollout, which began in late 2020.
Going forward, there could be a bigger jump in foot traffic as consumers plan springtime shopping sprees. Sixty-two percent of consumers plan to shop in-store at least once per week, according to a March 2021 report by The Harris Poll. And just how much they spend depends in part on how well the COVID-19 vaccine rollout goes: 61% of households with incomes over $100,000 say that vaccine distribution has at least some influence on their spending plans this year. Coronavirus stimulus payments coupled with last year’s increase in cash savings will likely also drive springtime brick-and-mortar spending, especially with COVID-19 vaccine eligibility expanding to all US adults by May 1.
Merchants should take advantage of consumers’ anticipated return to brick-and-mortar stores with upgraded offerings that create better shopping experiences, which help drive repeat visits.
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