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Despite recent challenges, the tourism sector is bouncing back stronger than ever 🌎 We dove into the data to explore how the landscape of domestic travel has evolved amidst pandemic recoveries and economic shifts. New York City and Los Angeles emerge as leading destinations in 2024, drawing significant visitor interest with their diverse attractions and cultural offerings. Here's what we discovered: 👇🏻 → Younger Travelers: The share of visitors to New York City with median ages under 30 increased from 2.1% to 4.5% between 2018-2019 and 2023-2024, reflecting a growing preference among younger demographics. → Medium-Length Trips: Visitors taking medium-length trips to New York City (three to seven days) increasingly come from nearby CBSAs like the Philadelphia metro area, with a notable 19.2% increase in visitor numbers from this CBSA. → Domestic Tourism Dominance: New York captured 2.7% of overall domestic tourists, while Los Angeles closely followed with 2.5%, making them top destinations in the U.S. for domestic travelers. → Economic Realities: Los Angeles has seen a shift, with a rise in middle-income tourists due to economic pressures, reflecting a decrease in affluent visitors to 50.7%. → Local Appeal: Both cities witnessed a surge in in-state visitors, indicating a preference for nearby destinations amidst rising travel costs. Explore our full report linked in the comments below & swipe right to see the correct answer to our latest poll! #TourismTrends #DomesticTravel #MarketInsights #TravelIndustry

New feature drop! Check out the latest additions to Placer.ai ↓ 📌 Map Studio - annotation tools & map layers 📌 Void Analysis includes small businesses! 📌 Site Selection for custom tags 📌 Migration Trends - expanded demographics 📌 New XTRA reports And much more! Swipe through for a preview of these exciting enhancements to our core solutions. #commercialrealestate #smallbusiness #advertising

💫 Early registration is now open! Join us at Placer Discover: New York 2024 on December 10th. This exciting event will bring together industry leaders to connect, gain insights, and learn how to harness data to empower organizations. Expect a day full of networking, innovation, and valuable takeaways. ☁️ Register today with the code “EARLYOWL” for 70% off ☁️ Get your tickets at https://lnkd.in/eDv4Dw-Q Before our main event, check out our monthly virtual Discover events linked in the comments below!

Retail media networks are generating a lot of buzz lately, and it's clear why. But what's the secret to maximizing their potential? Find out in today's weekly brief, where we break down the major takeaways on how advertisers can best leverage the #retailmedia opportunity. For an even deeper dive, check out our latest report at hubs.li/Q02DBC-80 #advertisingandmarketing #strategy

Our Q2 2024 Retail & Restaurant Review is here! Dive into the latest trends shaping the industry. 🔎 → Discount & Dollar Stores continue to soar with impressive YoY visit growth of 11.2%. Dollar General and Five Below lead the charge with significant upticks in foot traffic, seeing increases between 9.1% and 18.8%. → Grocery Chains see strong performance, with limited-assortment value grocery stores like Aldi and Trader Joe’s leading the way. → Fitness Clubs remain robust, with value-driven options like EoS Fitness and Crunch Fitness showing extraordinary growth, with YoY increases of 23.4% and 21.4%, respectively. → Superstores and Wholesale Clubs continued to stand out – with Costco Wholesale, Sam’s Club and BJ’s Wholesale Club enjoying YoY foot traffic growth ranging from 12.0% to 7.4% → Home Improvement chains have shown resilience with elevated YoY foot traffic in Q2. Notably, April and June saw mostly positive visit growth, driven by consumers engaging in necessary home repairs and smaller projects. → Restaurants saw a positive uptick in YoY foot traffic throughout most of Q2. The sector notably saw a boost during the week of Mother’s Day, highlighting continued consumer interest in dining out. Explore the full Q2 2024 index for deeper insights linked in the comments below! #retail #foottraffic #markettrends

Tourism trends are shifting... 🗽 Analyzing the data on the origin of visitors to the New York-Newark-Jersey City CBSA who make medium-length trips to the Big Apple (between 3-7 nights) has revealed an interesting shift in domestic travel compared to pre-pandemic times. Take a guess below on which CBSA you think now visits NYC the most compared to pre-COVID. Stay tuned for the poll results and the correct answer! They will be revealed in our upcoming white paper(dropping next week), which takes a closer look at the most popular domestic tourism destinations in the country. #marketresearch #travel #tourism #newyork

Value meals & deals are making a notable comeback in the dining sector. And Starbucks' latest offering stands out as a particularly successful example among these promotions. The coffee chain's recent limited-time offer has led to a significant boost in foot traffic. 📈☕️ In May 2024, Starbucks rolled out a 50% discount on Fridays exclusively for app users. Visits on May 3rd were 1.1% below the year-to-date Friday average, but after the promotion started on May 10th, visits jumped by a whopping 20% above the YTD average. This special, which excluded hot brewed #coffee and tea, seems to have met people’s desires for a refreshing afternoon or pre-weekend pick-me-up. Other major chains like Buffalo Wild Wings, Chili's, and McDonald's are also rolling out similar limited-time offers (LTOs) to attract budget-conscious customers. Our latest analysis indicates that this #strategy significantly boosts foot traffic to these spots 🙌 Want to explore how such promotions are shaping consumer habits? Check out the full report - link in comments below! #consumerbehavior #advertisingandmarketing

Data always tells a story, and in this case, cross-visitation was very telling. After observing chronic out-of-stocks across multiple markets in a pet category, Retail Lab and OMG, Inc-Sales and Marketing hypothesized that this trend was negatively impacting consumer behavior and loyalty. How could they validate whether the lack of stock availability drove customer leakage to specialty stores? → That's where Placer came in. Here's a glimpse into what was uncovered: - Consumers at high out-of-stock stores exhibited a preference for pet specialty stores, ranking a local Petco as #1 in their Top 10 Favorite Places. - By comparison, customers at low out-of-stock stores visited pet specialty stores far less frequently. Indeed, no pet specialty store appeared in the top 10 favorite places for customers at low out-of-stock store locations. Check out the full success story using the link provided in the comments below. #Inventory #PetCategory #Research

We've got another exciting one for you all! Next week, join us for our next virtual Discover event. This one is all about gaining strategies to propel your #business forward. Here's what we have in store for you: 🏷️ Retail’s Evolution: The DNB Perspective Featuring our SVP Marketing, Ethan Chernofsky, and True Classic's VP, Head of Retail, Brent Paulsen. 🏷️ Transformative Leadership Mind Leaps With our VP Marketing, Stephanie Atiase, and President & Founder of Remarkable Retail, Steve Dennis. 🏷️ Fostering Experiential Retail With our Director of Research, Elizabeth Lafontaine, Managing Partner of rekon retail, Rebekah Kondrat, and Vice President of Global Analytics at Capri Holdings Limited, Manuel Neto. You won't want to miss this incredible lineup of insights from experts on the resurgence of physical retail with digital brands, transformative #leadership in the AI age, and the importance of experiential #retail. For more details on the event agenda and to register, visit: https://lnkd.in/eq549i-X Hope to see you there!

This biggest takeaway from Discover Grocery... And why it's going to transform how grocers approach customer acquisition. Full update in this week's brief ft. Ethan Chernofsky. ✨ You can now watch Discover Grocery on demand ✨ Listen to the full segment featuring Lisa Kinney of Albertsons and Kate McIntyre of Fresh Thyme Market , as well as the session led by Erich Kahner, with Michael Montani, CFA, Tom Hebbert, and Christina Drew. Watch the full virtual event at discover.placer.ai/grocery #grocery #strategy #consumerbehavior