The 2020 holiday season has been as crazy as expected with major downturns on Black Friday for retail and malls. Yet, retailers have seen strength in new places this season, helping to offset those losses. And one place that may receive added focus in 2020 is Super Saturday.
Although the wake-up call for shopping malls to adapt to a changing retail environment was heard long before COVID, the pandemic had enhanced its pressing urgency. Our latest whitepaper discusses some of the ways in which malls can go through a data-driven redevelopment process while adapting to changing industry trends and consumer behavior. Below is a taste of what we found.
There are few sectors that have felt the brunt of the pandemic’s retail impact like the wider apparel sector. After seeing a rapid recovery in the early weeks following springtime lockdowns, the category stagnated with visits down around 25-30% year over year for most weeks since the summer.
In this Placer Bytes, we dive into Nike’s recovery and holiday performance, analyze the Sephora partnership with Kohl’s, and break down the impact of the COVID resurgence on key Darden restaurant brands. Using location analytics to analyze Nike’s retail strategy puts its offline push in a particularly positive light demonstrating the opportunity that exists there.
December 11, 2020
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Business
Mall Update
Analyzing Black Friday data shows that a resurgence of COVID cases has clearly affected the wider retail economy. Whether it be a typical indoor mall, or outlet center, and whether the location be in New York or California, every type and every region has been affected.
In this Placer Bytes, we dive into two retail giants from vastly different sectors, wholesale club king Costco and athleisure leader Lululemon. Costco’s rebound should come as no surprise. Whether it be mission-driven shopping, economic uncertainty driving consumers to value, or the ability to stock-up ahead of potential closures, there are few trends that don’t align for the wholesale club giant.
In this Placer Bytes, we dive into Simon’s new return policy, GameStop’s turnaround potential, Walmart’s signs ahead of the holidays, and Ollie’s strong position. Simon recently announced a new return concept that could help provide even more reasons to visit their centers.
Black Friday 2020 was never going to reach the ‘normal’ peak that this retail extravaganza usually hits. But, the recent rise in COVID cases and added restrictions created an extra obstacle for some states to overcome. So, what happened? Looking at six top retailers, with a focus on those who have done well in 2020, shows that impact. The six saw an average visit decline of 26.3% compared to Black Friday 2019.
In this Placer Bytes, we analyze what Kroger’s success means moving forward, break down the continued success of At Home and signs of a Michaels breakout. Few have had a better turnaround in 2020 than Kroger. After and up and down 2019, the last ten months have produced an impressive run, especially in light of the pandemic. Kroger was part of a group of traditional grocers that have seen their value increase as visitors increasingly prioritize the combination of value and the ability to serve as a one-stop-shop.
When we think of the ‘most wonderful time of the year’ our minds rightfully drift to Christmas, Thanksgiving, and maybe for the truly shopping-minded, Black Friday and Cyber Monday. But lost in the shuffle is a key day in the grocery calendar: Turkey Wednesday. On that day, shoppers across the country hurry to their local grocery store to get the last-minute needs for an ideal Thanksgiving meal.
In this Placer Bytes, we dive into one of our 2020 winners, and two brands with strong hopes for a strong holiday season. Looking at monthly visits year over year, it’s critical to remember that the beauty brand kicked off 2020 with visits up 10.1% and 17.9% in January and February before the pandemic brought visits to a standstill.
When we last checked in on the hotel industry in August, things seemed to be going smoothly. But, with a resurgence of cases across the entire world, we decided to dive back into three of the largest chains to see if and how they’ve been affected.
In this Placer Bytes, we dive into the recoveries of value retailers Dollar General, Dollar Tree, and Five Below. Specifically, we analyze the timing of their visit growth ahead of a potentially massive holiday season for the value segment. Dollar General was strong pre-COVID, during the pandemic and is seeing visits back on the rise ahead of a critical holiday season.
In this Placer Bytes, we dove into the BevMo acquisition, Burlington’s pre-holiday pace and Dollar Tree’s latest offline performance metrics. Recently, goPuff announced the acquisition of specialty beverage chain BevMo, and it is as fascinating an acquisition as there has been in 2020.
Just when we thought we’d praised the coffee giant enough over its Pumpkin Spice Latte launch, Starbucks took another step that left us watching with awe. Red Cup Day. How effective was it? Shockingly effective.
In this Placer Bytes, we dive into Best Buy, one of the true kings of offline retail, and two of our 2020 winners – BJ’s and Dick’s Sporting Goods. After proving just how substantial Amazon Prime Day’s offline impact could be, Best Buy looks well-established for an exceptional holiday season.
In this Placer Bytes we dove into the data surrounding apparel giants Gap & Old Navy, checked in on Nordstrom and Nordstrom Rack and analyzed Macy’s continued recovery. Gap recently announced its plans to close multiple stores and shift focus more to outdoor locations, following suit of its sister brand, Old Navy.
Heading into what will likely be a particularly unique holiday season, there is a group of retailers that seem to be impervious to the effects the wider retail ecosystem is experiencing offline. And while this group certainly includes more than two brands, it is headlined by Walmart and Target.
2020 was a banner year for madness in the retail sector, but even amid the pandemic that upended much of the ecosystem, there were bright spots. And none shined brighter than the home improvement sector led by industry giants Home Depot and Lowe’s.
In this Placer Bytes, we dive into two department brands and look at Ross after its expansion announcement. September produced a much-needed break from the stagnant traffic levels JCPenney had seen since the recovery kicked off in earnest for the brand in June. Visits were down 35.8% year over year, buoyed by Labor Day weekend, a welcome improvement over the three months prior when visits were down an average of 43.6%.
