ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2022 in the United States. That figure was down 19 percent from the second quarter of 2022 – the sixth quarterly decrease in a row – and down 47 percent from the third quarter of 2021 – the biggest annual drop in 21 years.
Pandemic-driven shifts away from retail shopping during the 2020 holiday season raised the question of whether sales events such as Black Friday would draw shoppers back to stores in 2021. Looking at in-store consumer trends for major department store companies—Macy’s Inc (NYSE: M), Kohl’s (NYSE: KSS), Dillard’s (NYSE: DDS), J.C. Penney, and Nordstrom Inc (NYSE: JWN)—during Black Friday week over the past three years, only Dillard’s retail sales during Black Friday week in 2021 reached pre-COVID levels. Among the public department store companies in this peer group, Kohl’s also saw the highest share of its fiscal quarter sales occur during Black Friday week.
We dove into the foot traffic data to the off-price apparel sector and took a closer look at two leading sports retailers, Hibbett Sports and Dick’s Sporting Goods to see what visits can tell us about the upcoming holiday season. There are four chains that dominate the off-price apparel category – T.J. Maxx and Marshalls, which are owned by the same parent company, Ross Dress For Less, and Burlington. These retailers performed remarkably well during the pandemic, consistently outperforming the overall apparel sector – a trend that has persisted in recent months.
The top 10 quick-service restaurant apps in the U.S. were downloaded 12.3 million times in October, 23 percent more than those the month prior. Year-over-year in the month of September, downloads of the top 36 quick-service restaurant apps are up 27.5 percent. A download represents a new user and the first conversion on the mobile app customer’s journey.
The bipartisan _Infrastructure Investment and Jobs Act_ that went into effect earlier this year allocates $2 billion to improving cybersecurity in critical infrastructure and modernizing systems and software at federal, state, and local government agencies. While this funding has generated more demand for cybersecurity roles in the public sector, the attrition rate of government cybersecurity jobs has also been increasing significantly since 2021.
Wholesale clubs, which experienced significant foot traffic gains in 2021, continued to outperform pre-pandemic visits for much of 2022. And with inflation still impacting budgets going into the holiday season, consumers are as meticulous about choosing where they shop as they are about finding the perfect gift. We dove into the data for the three leaders in the space – Costco Wholesale, Sam’s Club, and BJ’s Wholesale Club – to take a closer look at the foot traffic trends driving visits as we approach the biggest retail months of the year.
In the United States, changes to how we fly, which airlines we choose, and how those airlines have responded to challenges are now evident. Latest analysis of which US hub airports have grown and which are operating with a smaller network than they were a few years ago reveal some interesting trends towards legacy and low-cost airlines. Starting with the Top 25 US Airports in 2019, at the top of the list was Atlanta Airport (ATL), a position it retains to this day.
An overall slowdown in fast fashion growth is catching up to Shein. The ecommerce retailer experienced five consecutive months of US slowing sales according to credit and debit card data. Shein maintains its market dominance, with 30% share in October, as rival fast fashion retailers H&M and Zara experienced in-line sales declines. The sales slowdown is a huge reversal for a company that grew double digits in the first five months of 2022. Before that, Shein unseated H&M and Zara during the pandemic to become the largest US fast fashion retailer by sales.
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. Consistent evidence of a single-family rental market cooldown follows nearly two years of above-trend rental price hikes. Year-over-year single-family rent growth slowed for the fifth consecutive month in September 2022 to 10.2%, down from a high of 13.9% in April 2022.
A turbulent two years due to the pandemic proved to be the ultimate test of resilience and business continuity for hotels in Ireland. This year, however, has produced a strong recovery despite a difficult start and ongoing global macroeconomic uncertainty. Hotels in Ireland have been successful in navigating the choppy waters as evidenced by the performance recorded thus far in 2022.
Black Friday. It’s a word pairing capable of producing an almost Pavlovian response. Simply hearing its name in the wind can have us reaching for our wallets, pulling out our credit cards, and making a beeline for that “Buy Now” button. And it’s almost here. Yep – the seductive siren song of Black Friday is back for another year on November 25, ready to lure bargain-hungry consumers back into the arms of its irresistible discounts. Below, you’ll find everything you need to know about Black Friday statistics, from 2020 and 2022 through to Black Friday’s history.
Following a reported sales slowdown in its second fiscal quarter, department store chain Dillard’s Inc (NYSE: DDS) exceeded investors’ expectations with the release of its third quarter earnings report. Prior to the Q3 earnings surprise announcement, transaction data from Bloomberg Second Measure projected Dillard’s third quarter revenue within 1 percent of the company’s reported revenue.
Retail foot traffic picked up again in October ahead of a much anticipated holiday season. We dove into the visit data to find out which categories are making the biggest comeback and how this year’s extended holiday season stacks up against 2021. September was difficult for much of the retail landscape, as inflation took a toll on consumer spending. But the tide has turned in recently, with weekly visits since mid-October up relative to pre-pandemic 2019. Early holiday shoppers stocking up on gifts and consumers making peace with the current prices drove an October retail rebound ahead of a critical holiday season.
Sandalwood E-Commerce data showed online cellphone sales reached 6.8 million units during Oct 20 – Nov 5 in China, 2.3 times the sales volume during regular period (Oct 1-19). JD accounts for 44% of the overall online sales, whereas Tmall, Pinduoduo, Douyin, Kuaishou account for 39%, 13%, 4%, 4% respectively. Sales on JD, Tmall, Pinduoduo, Douyin, Kuaishou were 2, 5, 1.4, 3.3, 4.6 times that of regular sales period (Oct 1-19).
As inflation in categories like grocery restricts consumer spending in other areas, and as rising interest rates make auto loans more expensive, have used car sales hit a speedbump? Following up on our data’s accurate capture of last week’s CVNA reported sales decline – which sent the stock plummeting 50%, in today’s Insight Flash we dig into how competitor sales are trending, how the average inventory price compares to the average selling price of vehicles, and how many days vehicles are staying listed on websites before being sold.
As the holiday season approaches, retailers are gearing up for major sales events like Black Friday. Among these are sporting goods retailers, which reportedly saw an increase in demand for camping and outdoor gear during pandemic lockdowns. So how did these companies fare during Black Friday week over the last few years? Our peer analysis of major sporting goods retailers—Academy Sports & Outdoors (NASDAQ: ASO), Big 5 Sporting Goods (NASDAQ: BGFV), Dick’s Sporting Goods (NYSE: DKS), REI, and Sportsman’s Warehouse (NASDAQ: SPWH)—found that Sportsman’s Warehouse saw the most customer growth during Black Friday week in 2021.
With the peak of the retail holiday season kicking into high gear, we dove into the visit performance for two of retail’s giants. In 2021, both Target and Walmart saw uniquely strong performances during Back-to-School season and again in October as retailers pushed to extend the holiday shopping period earlier. Last year’s visit peaks set a critical context for understanding the traffic to both retailers in recent months. Target saw year-over-year (YoY) declines of 0.9% and 2.1% in August and October – relatively minimal considering the heights hit during those months in 2021.
Last Tuesday, New York City enforced a pay transparency law, requiring companies to include salary ranges in job postings. We wrote a newsletter about the impact of Colorado's pay transparency law back in May, so we had thoughts about what to expect for NYC. You can read our interviews with Bloomberg and Money.com and watch our CNBC coverage.
The office recovery has plateaued over the past couple of months as many workers settle into a hybrid working model, and the pattern largely continued in October. New York City and Chicago saw the smallest year-over-year (YoY) increase in monthly office visits since the start of the workplace recovery in April 2021, with October visits up by only 6.8% and 10.9%, respectively. In Houston and Miami, where the office recovery started earlier and picked up steam faster than in the rest of the country, visits were actually slightly lower this October when compared to last year – a clear sign that the return to office rates are leveling off in some regions – at least temporarily.
At the World Travel Market in London this week ForwardKeys has announced the performance of the top global destinations of 2022 by publishing an annual Most Visited Destinations report that is available in hard copy at the event and to download at the bottom of this page. The top country list is headed by the Dominican Republic, and the top city list by Antalya in Turkey. Between 1st January and 18th October (the latest available air ticketing data), the Dominican Republic welcomed 5% more visitors than it did in 2019. It is followed by Turkey, Costa Rica, and Mexico, which all welcomed the same number of visitors.
