A heat wave at the end of July led to scorching temperatures across the US. As consumers cranked up their air conditioners and iced their beverages, did any businesses benefit from the warmer weather? In today’s Insight Flash, we take advantage of our partnership with WeatherOptics to examine the impact in two markets on the East and West Coast, and to deep dive into how the heat wave progressed for movie theatres, a seemingly cool haven for those looking to keep their AC bills down.
Subway has made headlines for both its store closures and creative menu updates, so we decided to dive into recent foot traffic data to understand how these changes are impacting Subway visits nationwide. Rightsizing has been classically seen as a softer terminology to discuss store closures. But there is a significant trend of rightsizing that is more focused on optimization. Foot traffic data shows that Subway’s overall visits are down year-over-three-year (Yo3Y) while Yo3Y visits per venue are nearing or exceeding 2019 levels.
A modest half a million more seats week on week once again takes global capacity above 102 million as we enter the peak holiday month of the year. This means a remarkable 25% more seats than this time last year, and at 14% below 2019 levels, we edge ever closer to pre-pandemic levels. Looking forward, it looks like capacity is baked in at more than 100 million for the rest of the month, and feels like every flight operating is crammed with holiday makers and a few businessmen still working, who typically seem to be in either seat B or D!
Before the COVID-19 pandemic, summer was fondly thought of as the season when sniffles were few and far between. For those few months, we could reliably expect a break from _most_ cold-like illnesses, as flu and colds seemed to consistently strike in the winter - a season when we are more susceptible to infection by various respiratory viruses.
With our latest location data, we analyzed foot traffic for three leading theater chains – AMC Theaters, Regal Cinemas, and Cinemark – to see how the movie theater recovery is progressing and to understand how inflation and changes in media consumption are impacting the behaviors of moviegoers. Year-over-three-year (Yo3Y) data for the first half of 2022 shows that visits to the three leading movie theater chains are steadily rising to pre-pandemic levels.
What do the COVID-19 pandemic, a looming recession, rising interest rates and global conflicts have in common? They all impact nearly every aspect of life, including how brands spend their ad dollars. While the lasting impact of these events remains to be seen, we are starting to see how advertisers are responding to the shifting sands. Hint: Most of them are spending less. Still, there are opportunities to convince them to open their wallets. Recently, MediaRadar looked at a sampling of advertising on over 215 digital content companies like BBC News, ABC, and USA Today.
The CoreLogic Home Price Insights report features an interactive view of our Home Price Index product with analysis through June 2022 with forecasts through June 2023. CoreLogic HPI™ is designed to provide an early indication of home price trends. The indexes are fully revised with each release and employ techniques to signal turning points sooner. CoreLogic HPI Forecasts™ (with a 30-year forecast horizon), project CoreLogic HPI levels for two tiers—Single-Family Combined (both Attached and Detached) and Single-Family Combined excluding distressed sales.
In October 2021, Facebook announced its rebranding to Meta to reflect its focus on building the “metaverse” – an immersive virtual environment that could redefine social interactions online. Many believe the metaverse is the next big thing in tech. In collaboration with Bloomberg, we took a look at the recent hiring trend in the world of metaverse to see which companies have been riding the recent hype.
We dove into foot traffic trends for Popeyes, KFC, and Taco Bell to see how menu changes impact visits. Although the data presented here does not include all drive-thru and pick-up orders – and so does not represent the totality of the brands’ foot traffic – these metrics still show how a single popular item can significantly boost traffic across a QSR brand.
After a contentious battle between JetBlue and Frontier, Spirit Airlines has finally announced a deal with JetBlue. In today’s Insight Flash, we look at what the deal will mean for their combined consumer spend share, how close the companies really are when it comes to ticket prices, and which competitors are the most at risk in key hubs based on cross-shop.
Meal Delivery app engagement is stagnating for the second year in a row, giving Meal Kit apps room to grow monthly active users (MAU) 98% from last year. MAU among the top 7 U.S. Meal Kit apps jumped 42% in Q1 2022 from Q4 2021, and another 56% in Q2. Meanwhile, MAUs among top Meal Delivery apps grew 1% and 2% across the same timeline. As Americans realize economic pressures, mobile data shows that high cost conveniences may be being cut. The Ultrafast Delivery app market (Getir, Gopuff, etc.) is a perfect poster child example. In Q2, it declined growth for the first time in two years at a -30% loss.
Gap Inc (NYSE: GPS) recently saw its CEO step down amidst weakening sales and supply chain issues. However, our consumer transaction data shows that while some brands within Gap Inc’s portfolio—Old Navy and its namesake brand Gap—saw their U.S. sales decline year-over-year in Q2 2022, other brands like Athleta, Banana Republic, and Banana Republic Factory experienced positive growth. Our analysis shows that in addition to year-over-year sales growth, these three brands experienced increases in average quarterly sales per customer compared to before the pandemic.
Notable Hit 1: (ECL:NYSE) On Tuesday July 26, 2022 Ecolab Inc. (ECL) posted better than expected revenues of $3.58bn surpassing the consensus estimate of $3.50bn or by +2% and in the same direction as Advan's forecasted sales. The revenue was up 13.2% YoY and in line with Advan's employee foot traffic data increase of 4.3% YoY at its factories for Q2 2022. Advan's footfall data has a correlation of 0.98 on a YoY basis with ECL's top-line revenue over the last 12 quarters.
Our latest white paper dives into the spectacular return of the offline fitness industry. We looked at overall fitness visit patterns, regional variance trends, and changes in gym-goer behavior to analyze how consumers’ relationships with health clubs have evolved as a result of the pandemic. We also explored the impact inflation has on the sector to understand how fitness consumer behavior is adapting to changing economic circumstances. Below is a taste of our findings – for the full report, read the white paper here.
According to consulting firm Quinlan and Associates, the virtual banking industry in Hong Kong is forecasted to create a HK$76 billion ($9.7 billion) per annum revenue opportunity by 2025, servicing a total customer pool of 1.9 million (i.e. 24.9% of the current Hong Kong population). In 2019, the Hong Kong Monetary Authority licensed eight virtual banks. These eight firms are: ZA Bank, Mox Bank, WeLab, Airstar, Livi, PAOB, Ant Bank and Fusion.
Over the past few months, a number of high-profile employers have announced hiring slowdowns or all-out hiring freezes. In this post, we will take a quick look at the recent job listings trends from some of the companies reporting earnings this week. First, let’s check in on the companies we have already seen announce hiring slowdowns or freezes. The blue line in each chart indicates when these slowdowns were first announced, worth noting that many of these announcements came after job listings had been slashed and the data we provide was predictive of such an announcement.
Mall mainstay Claire’s jewelry has seen a recent turnaround, moving to off-mall locations and partnering with large brick-and-mortar chains to display its products. In today’s Insight Flash, we look at how the company’s DTC business is performing in the US and UK versus the broader subindustry, whether it’s capturing nostalgia Gen Zers or a new audience in the US, and whether its new Walmart partnership is likely to boost sales.
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its second-quarter 2022 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales across the United States hit another new record of 55.5 percent following the largest quarterly gain in a decade.
Consumer needs for their health & fitness regimens continue to evolve and mobile apps play a major part in serving them. Downloads and revenue across Health & Fitness apps continue to grow into the summer, even surpassing the “New Year Resolution” spike in January 2022. As consumers dropped “New Year, New Me” and adopted ‘Everybody is a Summer Body,’ there is a clear opportunity for health & fitness brands to become embedded in people’s wellness routines and find ways to retain existing customers.
Welcome to the August 2022 Apartment List National Rent Report. Our national index rose by 1.1 percent over the course of July, a slightly slower rate of growth than we observed last month. So far this year, rents are growing more slowly than they did in 2021, but faster than they did in the years immediately preceding the pandemic. Over the first seven months of 2022, rents have increased by a total of 6.7 percent, compared to an increase of 12.0 percent over the same months of 2021. Year-over-year rent growth currently stands at 12.3 percent, but has been trending down since the start of the year from a peak of 18 percent.
