Springboard's latest data was encouraging, but the company sees headwinds ahead.
Springboard’s data is derived from more than 44 million pedestrian traffic counts a week at 2,160 counting points in 1,100 shopping locations.
Diane Wehrle, marketing and insights director at Springboard, said that despite the strong uplift in March, “this is likely to be the calm before the storm, only offering some short-term good news for retailers.” “The substantial increase in energy and fuel prices and the concomitant rise in inflation that is forecast over the forthcoming months will put household budgets under increasing pressure,” Wehrle said. “Inevitably, this will mean less disposable income and so somespending will be curtailed, particularly as we enter the summer period when many consumers will be looking to reserve budget to spend on much longed for summer vacations.
Looking at the pedestrian traffic in New York City, Springboard said there were also significant improvements in March with the gains aligned with the U.S. data trends. Similar to the U.S. numbers, the strongest daytime traffic was during breakfast and lunch periods, “reflecting that more employees are returning to their offices.”
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