Thursday, March 5, 2020

Americans Cut Back on Trips to the Store as Virus Spreads

NREI
Visits to U.S. stores fell for a fourth straight week, as confirmed cases of the coronavirus spread across the country.

Foot traffic decreased 3.3% in the week through Feb. 28 after gains in January, according to location-data provider Prodco Analytics. A main driver of the decline was the first decrease in six weeks at chains that sell apparel, a mostly discretionary purchase.
To be sure, Americans have been reducing their visits to stores and shopping malls for years with the growth of e-commerce. However, concerns over the virus and its impact on the economy are growing.. . . more