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Hot on the heels of last year’s Barbenheimer phenomenon, 2024 brought us “Glicked”— the powerhouse pairing of Gladiator II and Wicked that lit up movie theaters across the country. How did these box office juggernauts – followed just a few days later by Disney’s much-anticipated release of Moana 2 – impact movie theater foot traffic during the Thanksgiving holiday weekend?
We dove into the data to find out.
On its premiere day (Friday, November 22nd, 2024) “Glicked” drew a 69.2% increase in movie theater visits compared to the daily average between June 1, 2023 and December 1, 2024. By Saturday, November 23rd, foot traffic surged by a dramatic 147.3%, solidifying the weekend as one of the most memorable of the year. And on Wednesday, November 27th, the release of Moana 2 drove an impressive 142.6% foot traffic increase.
But the real box office magic came on Black Friday (November 29th), when the combined power of Glicked, Moana 2, and the holiday shopping frenzy fueled an epic 263.2% surge in theater visits – making November 29th the third busiest for theaters since June 1st 2023. Foot traffic to movie theaters on this year’s Black Friday even outpaced the unforgettable levels seen on Barbenheimer Saturday (July 22nd, 2023), when visits soared to 241.0% above the daily average.
Black Friday is always a busy time for movie theaters. In 2019, movie theater visits on Black Friday (November 29th, 2019) were up 80.2% compared to an average 2019 Friday – while in 2022 and 2023 (November 25th, 2022 and November 24th, 2023), they were up 40.8% and 39.4% compared to an average Friday for each of those years.
And in 2024, Black Friday cinematic foot traffic surged past previous years’ benchmarks – surpassing even pre-pandemic levels. On November 29th, 2024, visits to movie theaters were 13.1% higher than on Black Friday in 2019 – and the effect lasted through the weekend, pushing visits up 9.5% and 27.8% on the Saturday and Sunday after Thanksgiving compared to the equivalent period of 2019.
But the Black Friday foot traffic surge wasn’t distributed equally throughout the day. Unsurprisingly given the holiday weekend, morning and early afternoon screenings saw the most impressive visit increases – with foot traffic up an incredible 524.0% between 11:00 AM and 2:00 PM compared to an average year-to-date (YTD) Friday. Afternoons (2:00 PM–5:00 PM) weren’t far behind, with visits climbing 389.9%. But impressively, even though Friday evenings are typically busy times for movie theaters year round, visits on the evening of Black Friday surged by more than 200% between 5:00 PM and 11:00 PM.
Black Friday’s box office boost also wasn’t evenly spread across the map. Leading the charge was the Philadelphia-Camden-Wilmington area, where theater visits soared by an astonishing 373.5% compared to its 2024 year-to-date average. Close on its heels were Washington, D.C. (322.8%) and New York (321.9%), proving that East Coast audiences were all in for some big-screen magic.
Interestingly, Black Friday was less resonant on the West Coast, particularly in California, where the cultural pull of the big shopping day seems to be less strong. Los Angeles, for example, saw a more modest boost in visits, reflecting the region’s typically lighter Black Friday enthusiasm.
Black Friday, it turns out, isn’t just about shopping – it also has the power to supercharge movie theater foot traffic. And while Gladiator II, Wicked, and Moana 2 all drew crowds on their opening days, the strategic timing of their pre-holiday releases drove a Black Friday visit surge for the ages. Whether driven by the thrill of a new hit or the magic of the holiday season, people are returning to theaters – and in record numbers.
For more data-driven consumer behavior insights, visit placer.ai.
Holiday shoppers in November 2024 turned out in greater numbers than last year, particularly at malls. Following a strong spring and summer year-over-year performance (despite April having one fewer weekend and Easter falling in March, as well as July having one less weekend than 2023), and a weaker early fall, it seems many consumers held off on their mall visits until November.
Indoor malls saw the highest total visits, followed by open-air lifestyle centers and outlet malls.
Deal-hunting was a major theme this year, drawing shoppers in large numbers to outlet malls. For most of November, Arundel Mills in Hanover, MD, led in total visits. However, when it came to post-Thanksgiving steps and walking off turkey-induced calories, Ontario Mills in Southern California claimed the top spot. Sawgrass Mills in Florida secured third place, while the Assyrian fortress-themed Citadel Outlets in Los Angeles landed fourth—complete with a massive Black Friday traffic jam on the 5 Freeway. Gurnee Mills in Illinois rounded out the top five for national outlet mall traffic.
We watched Moana 2 on Black Friday at the Outlets of Orange, the sixth most-visited outlet mall in America. Judging by the unbelievably crowded parking lot, it might be worth checking the Placer app for historical traffic comparisons. The silver lining to the 25-minute parking hunt? With half an hour of previews now the norm, no one missed a moment of the movie! The mall was bustling, with lines stretching around the corners of some stores. Crowds filled the main thoroughfare, and eager shoppers formed long queues at popular spots like Victoria’s Secret and Pink.
Shoppers at juniors' retailers like American Eagle needed a bit of patience, as did those heading to Skechers.
Great Lakes Crossing Outlets in Michigan secured seventh place, while Dolphin Mall in Miami, FL rounded out the top eight.
From November 1 to December 1, the top five most-visited indoor malls were Mall of America in Minnesota, Roosevelt Field in New York, Westfield Valley Fair in California, Del Amo Fashion Center in California, and Woodfield Mall in Illinois. However, Black Friday brought a shift in rankings. Woodfield Mall claimed the top spot for Black Friday visits, with the other malls each moving down one position compared to their overall November visitation rankings.
From November 1 to December 1, Ala Moana Center in Hawaii consistently held its #1 spot among open-air shopping centers, including on Black Friday. If you're enjoying the aloha spirit this holiday season, don’t miss unique Hawaiian stores like Honolulu Cookie Co., Island Slipper, and Malie Organics. The rankings saw some shifts on Black Friday, with Irvine Spectrum climbing from third place throughout November to the #2 spot. Easton Town Center secured third place, while St. Johns Town Center and Victoria Gardens rounded out the fourth and fifth spots, respectively, on the busiest shopping day of the year.
Black Friday 2024 provided valuable insights into consumer behavior as we look ahead to 2025. Placer’s blog highlighted a +2.7% increase in Black Friday weekend visits compared to last year, with shoppers focusing on value while also seeking unique and differentiated products, evidenced by strong year-over-year trends at off-price retailers like HomeGoods, Marshalls, and T.J. Maxx. Pandemic-era categories like home furnishings and sporting goods may also be seeing signs of a resurgence.
The standout takeaway, however, was the evolving role of malls. Mixed-use developments and placemaking, a key trend for malls heading into 2024, proved pivotal this Black Friday weekend. Open-air and indoor malls saw larger year-over-year visit increases (6.7% and 5.0%, respectively) than retailers across all property types (up 2.7%). This was a trend echoed by operators like Simon, further underscoring the mall’s continued relevance in modern retail.
Retailers remain integral to malls, but seasonal attractions, entertainment options, and a more diverse tenant mix have transformed malls into community hubs and prime destinations for both residents and tourists. These attractions have a symbiotic effect, driving greater foot traffic to mall tenants compared to standalone stores of the same brands.
Need evidence that this strategy works? Consumers are staying longer. Our data shows that open-air malls experienced a 7.2% increase in dwell time over Black Friday weekend, while indoor malls saw a 5.1% rise. As we've highlighted before, the longer consumers spend at a mall, the more likely they are to make a purchase.
A strong box office undeniably played a role in Black Friday visit trends and dwell time. Our data shows a nearly 250% increase in visits to movie theaters this Black Friday compared to last year (below). However, the data also reveals that many malls with unique holiday attractions and effective marketing strategies experienced increased visits, indicating that mall traffic was driven by more than just blockbuster movies.
Taken together, our data reinforces that malls have become more vital than ever to modern retail, evolving from traditional shopping hubs into multifaceted destinations that blend commerce, entertainment, and community experiences. Changes in tenant mix have introduced a diverse array of retailers, including digitally native brands, experiential stores, and unique local offerings, catering to broader consumer tastes. Increased visitor attractions, such as dine-in theaters, fitness studios, and immersive art installations, create compelling reasons that drive repeat visits for more than just shopping. Mall-focused events, from seasonal pop-ups to live performances, further enhance the draw by fostering engagement and creating a sense of occasion. This strategic evolution has positioned malls as essential anchors in the retail ecosystem, blending convenience and experience to meet the demands of today’s shoppers.
The holiday shopping season is in full swing, and with Black Friday weekend behind us, it's time to assess how this season is shaping up for retailers. As we noted before Thanksgiving, the shortened window between Thanksgiving and Christmas this year places added pressure on retailers to drive store traffic during key holiday events and weekends.
In 2023, Black Friday accounted for approximately 7% of holiday season retail visits, making it crucial for retailers this year to attract consumers early to mitigate potential slowdowns later in the season. Without burying the lede, Black Friday weekend (Friday through Sunday) delivered on this goal, with six of the seven analyzed retail sectors experiencing visitation growth. While the fervor around Black Friday may not match the excitement of the 1990s and 2000s, this year reaffirmed its enduring importance as a cornerstone of holiday shopping.
From a category perspective, luxury department stores had a strong performance this year, with traffic up 4% compared to Black Friday weekend last year. Nordstrom, in particular, stood out with a successful event. Throughout 2024, luxury department stores have worked hard to align more closely with consumer expectations in terms of assortment, in-store experience, and value, which clearly paid off during this key retail event. According to PersonaLive segmentation, Ultra Wealthy Families made up a quarter of visitors to luxury department stores during Black Friday weekend, bolstering traffic as these consumers tend to be less price-sensitive.
Full-line department stores, mass merchants, beauty, and home furnishing retailers also saw a 2-3% increase in traffic year-over-year. Overall, while discretionary retail still faces challenges, the weekend showed more positive momentum than we've seen in recent years.
Placer’s traffic estimates revealed that while most categories experienced an increase in weekend traffic, there was a noticeable shift in the distribution of visits across the days compared to last year. This year, Friday accounted for a smaller share of event visits than in 2023, while Sunday saw a higher percentage of traffic. Despite this shift, Friday still represented nearly 50% of event visits on average across retail sectors. It’s possible that consumers delayed their shopping trips until later in the weekend, potentially after conducting online research on Friday and Saturday.
What about the iconic lines outside retailers—did they make a comeback? Our data indicates that a few specific items drove consumers to camp out and arrive early for store openings on Black Friday. Notably, Target's exclusive release of the Taylor Swift Eras Tour book and a vinyl edition of her latest album, The Tortured Poets Department, attracted early crowds. Hourly visit data shows a higher share of visits between 4 AM and 6 AM compared to 2023. While last year saw a greater share of visits during regular store hours, this year shoppers arrived earlier, likely drawn by these exclusive products.
What does Black Friday weekend reveal about the rest of the holiday season? The industry successfully overcame its first hurdle—boosting overall holiday visitation despite fewer shopping days—thanks to the growth seen last weekend. However, challenges remain with more lull weeks ahead and an earlier Super Saturday this year. As we noted previously, a shorter season also means tighter shipping windows, which could drive increased in-store visits in the final days before Christmas. On the positive side, discretionary retail saw strong visitation, with key items and promotions effectively capturing the holiday spirit and engaging consumers during this critical period.
Black Friday is the biggest retail milestone of the year – drawing millions of shoppers to stores nationwide. And even as e-commerce claims a growing piece of the holiday shopping pie, consumers flock to brick-and-mortar retailers to browse the aisles, check out new products, and enjoy the festive holiday atmosphere.
But how did brick-and-mortar retailers fare during this year’s Black Friday? Did the high-stakes shopping period deliver?
Black Friday has evolved into a multi-day shopping bonanza. Early holiday sales draw crowds well before Thanksgiving, and major markdowns continue into the weekend and through Cyber Monday. Still, foot traffic data shows that the traditional milestone hasn’t lost its touch. On November 29th, 2024 visits to retailers nationwide surged by 40.4% compared to an average Friday this year – up slightly from 39.8% in 2023.
Year over year (YoY), retail foot traffic increased 0.9% on Black Friday this year – a modest uptick, but one which highlights the resilience of physical retail in an increasingly digital world. Most of the days during the week leading up to Black Friday also saw modest YoY visit increases, as shoppers got a head start on their bargain hunting. And the Saturday and Sunday following the milestone saw more significant YoY visit increases of 2.0% and 6.2%, respectively – perhaps driven in part by customers picking up orders placed online during Black Friday.
Digging deeper into the data for different areas of the country shows that the resonance of the milestone varies significantly by region. In Delaware and New Hampshire, visits to retailers on November 29th were up a whopping 75.9% and 72.8%, respectively, compared to an average Friday this year. And in much of the Midwest – including North and South Dakota, Nebraska, Indiana, Minnesota, Wisconsin, Iowa, Kentucky, Tennessee, and Kansas – retail foot traffic surged by more than 50.0%. By contrast, Western states such as California (26.0%), Wyoming (24.1%), New Mexico (24.5%), Montana (31.3%), Colorado (32.6%), Nevada (33.1%), and Utah (33.6%) experienced much more modest visit boosts.
The differences in statewide Black Friday performance may reflect more general regional Black Friday patterns. Though the Mountain states saw smaller Black Friday visit spikes than other areas of the country, retail visits in the region on November 29th, 2024 were up 4.1% YoY – perhaps a sign that the milestone is growing in local importance. The Eastern and Western South Central regions saw YoY visit increases of 3.7% and 2.8%, respectively – while the South Atlantic region saw a 1.5% increase. Meanwhile, some of the areas where Black Friday is most resonant – including the Midwest – saw visits remain flat or fall slightly below 2023 levels.
Holiday shopping is about more than just making transactions – consumers eagerly leave the comfort of their homes to embrace the thrill of the treasure hunt, explore new products firsthand, and enjoy the experience of shopping with friends. And foot traffic data shows that Black Friday retains plenty of in-person appeal.
For more data-driven insights, visit placer.ai.
Many Americans choose to take the entire week of Thanksgiving off, heading home early and maximizing family time during the holiday. How does the extra vacation time impact travel and leisure foot traffic? We dove into the data to find out.
The Tuesday and Wednesday before Thanksgiving are among the busiest travel days of the year as Americans head back home or travel to friends to celebrate the holiday with loved ones. But with many employees taking the entire week of Thanksgiving off – or choosing to work remotely – the Saturday before Thanksgiving is also a popular travel day.
On Saturday November 23rd, 2024, major U.S. airports and ground transportation hubs saw a 16.8% and 12.5% increase in visits, respectively, compared to the recent Saturday average. The Saturday spike suggests that many travelers started their holiday journey early to avoid the pre-Thanksgiving rush while enjoying a little more time with family and friends.
Visits to both airports and ground transportation hubs then fell on Sunday – although the airport drop was more pronounced than the bus and train station dip – before diverging for the rest of the week: Bus and train stations rose on Monday and peaked on Tuesday before leveling off, while airport visits stayed low on Monday, spiked on Tuesday, and peaked on Wednesday.
The dip in Monday visits along with the relatively larger drop in Sunday visits for airports is likely due to athe decrease in business travel during the week of Thanksgiving. Meanwhile, ground transportation may pick up on Monday because those trips tend to be longer – so travelers could be choosing to head out earlier.
But even as travel traffic increased, hospitality visits dipped. Most hotel categories – with the exception of luxury hotels – received significantly fewer visits on the days before Thanksgiving relative to their recent daily visit averages, with visits only rising slightly for some categories just before the holiday.
This substantial drop in hotel visits pre-Thanksgiving is likely due to a decrease in business travel ahead of the holiday. But all that Saturday travel (see above) still means more people away from home – so where are these travelers staying? The dip in hotel visits before Thanksgiving suggests that many people traveling earlier in the week may be choosing to forego the hotel and instead stay with friends or family.
How do these early Thanksgiving travelers spend their time ahead of the holiday?
Many of those traveling early may be taking extra PTO ahead of the holiday to maximize quality time with their geographically distant family – so, unsurprisingly, foot traffic data indicates that visits to family-friendly destinations spike ahead of the holiday.
This year, visits to museums, aquariums, and zoos peaked on the Tuesday before Thanksgiving relative to the recent Tuesday average, and remained significantly elevated on Wednesday. Museums – which may appeal to a wider age range than the other two types of attractions – also received a substantial visit boost on Monday.
This trend highlights the opportunity for family-friendly venues to strategically plan events, promotions, and extended hours during the early Thanksgiving week to attract traveling families seeking meaningful experiences together.
Indeed, zooming in on family-friendly museums across the country reveals that these venues tend to welcome a much larger share of out-of-town guests on the Monday to Wednesday before Thanksgiving compared to the same period the week before. This suggests that many of those who traveled early for Thanksgiving use the days ahead of the holiday to spend quality time with their relatives and engage in family-friendly activities in their hosts’ cities. Museums and similar venues can capitalize on this trend by tailoring their offerings or promotions to appeal to these out-of-town visitors during this peak period.
Analyzing pre-Thanksgiving foot traffic to travel hubs and leisure venues reveals that many Americans likely leverage the extra time off to extend their stay with their loved ones and explore local attractions together. By understanding these trends, businesses and cultural institutions can better cater to holiday travelers, creating meaningful experiences during this uniquely busy and family-focused season.
For more data-driven insights, visit Placer.ai.
The restaurant space has experienced its fair share of challenges in recent years – from pandemic-related closures to rising labor and ingredient costs. Despite these hurdles, the category is holding its own, with total 2024 spending projected to reach $1.1 trillion by the end of the year.
And an analysis of year-over-year (YoY) visitation trends to restaurants nationwide shows that consumers are frequenting dining establishments in growing numbers – despite food-away-from-home prices that remain stubbornly high.
Overall, monthly visits to restaurants were up nearly every month this year compared to the equivalent periods of 2023. Only in January, when inclement weather kept many consumers at home, did restaurants see a significant YoY drop. Throughout the rest of the analyzed period, YoY visits either held steady or grew – showing that Americans are finding room in their budgets to treat themselves to tasty, hassle-free meals.
Still, costs remain elevated and dining preferences have shifted, with consumers prioritizing value and convenience – and restaurants across segments are looking for ways to meet these changing needs. This white paper dives into the data to explore the trends impacting quick-service restaurants (QSR), full-service restaurants (FSR), and fast-casual dining venues – and strategies all three categories are using to stay ahead of the pack.
Overall, the dining sector has performed well in 2024, but a closer look at specific segments within the industry shows that fast-casual restaurants are outperforming both QSR and FSR chains.
Between January and August 2024, visits to fast-casual establishments were up 3.3% YoY, while QSR visits grew by just 0.7%, and FSR visits fell by 0.3% YoY. As eating out becomes more expensive, consumers are gravitating toward dining options that offer better perceived value without compromising on quality. Fast-casual chains, which balance affordability with higher-quality ingredients and experiences, have increasingly become the go-to choice for value-conscious diners.
Fast-casual restaurants also tend to attract a higher-income demographic. Between January and August 2024, fast-casual restaurants drew visitors from Census Block Groups (CBGs) with a weighted median household income of $78.2K – higher than the nationwide median of $76.1K. (The CBGs feeding visits to these restaurants, weighted to reflect the share of visits from each CBG, are collectively referred to as their captured market).
Perhaps unsurprisingly, quick-service restaurants drew visitors from much less affluent areas. But interestingly, despite their pricier offerings, full-service restaurants also drew visitors from CBGs with a median HHI below the nationwide baseline. While fast-casual restaurants likely attract office-goers and other routine diners that can afford to eat out on a more regular basis, FSR chains may serve as special occasion destinations for those with more moderate means.
Though QSR, FSR, and fast-casual spots all seek to provide strong value propositions, dining chains across segments have been forced to raise prices over the past year to offset rising food and labor costs. This next section takes a look at several chains that have succeeded in raising prices without sacrificing visit growth – to explore some of the strategies that have enabled them to thrive.
The fast-casual restaurant space attracts diners that are on the wealthier side – but some establishments cater to even higher earners. One chain of note is NYC-based burger chain Shake Shack, which features a captured market median HHI of $94.3K. In comparison, the typical fast-casual diner comes from areas with a median HHI of $78.2K.
Shake Shack emphasizes high-quality ingredients and prices its offerings accordingly. The chain, which has been expanding its footprint, strategically places its locations in affluent, upscale, and high-traffic neighborhoods – driving foot traffic that consistently surpasses other fast-casual chains. And this elevated foot traffic has continued to impress, even as Shake Shack has raised its prices by 2.5% over the past year.
Steakhouse chain Texas Roadhouse has enjoyed a positive few years, weathering the pandemic with aplomb before moving into an expansion phase. And this year, the chain ranked in the top five for service, food quality, and overall experience by the 2024 Datassential Top 500 Restaurant Chain.
Like Shake Shack, Texas Roadhouse has raised its prices over the past year – three times – while maintaining impressive visit metrics. Between January and August 2024, foot traffic to the steakhouse grew by 9.7% YoY, outpacing visits to the overall FSR segment by wide margins.
This foot traffic growth is fueled not only by expansion but also by the chain's ability to draw traffic during quieter dayparts like weekday afternoons, while at the same time capitalizing on high-traffic times like weekends. Some 27.7% of weekday visits to Texas Roadhouse take place between 3:00 PM and 6:00 PM – compared to just 18.9% for the broader FSR segment – thanks to the chain’s happy hour offerings early dining specials. And 43.3% of visits to the popular steakhouse take place on Saturdays and Sundays, when many diners are increasingly choosing to splurge on restaurant meals, compared to 38.4% for the wider category.
Though rising costs have been on everybody’s minds, summer 2024 may be best remembered as the summer of value – with many quick-service restaurants seeking to counter higher prices by embracing Limited-Time Offers (LTOs). These LTOs offered diners the opportunity to save at the register and get more bang for their buck – while boosting visits at QSR chains across the country.
Limited time offers such as discounted meals and combo offers can encourage frequent visits, and Hardee’s $5.99 "Original Bag" combo, launched in August 2024, did just that. The combo allowed diners to mix and match popular items like the Double Cheeseburger and Hand-Breaded Chicken Tender Wraps, offering both variety and affordability. And visits to the chain during the month of August 2024 were 4.9% higher than Hardee’s year-to-date (YTD) monthly visit average.
August’s LTO also drove up Hardee’s already-impressive loyalty rates. Between May and July 2024, 40.1% to 43.4% of visits came from customers who visited Hardee’s at least three times during the month, likely encouraged by Hardee’s top-ranking loyalty program. But in August, Hardee’s share of loyal visits jumped to 51.5%, highlighting just how receptive many diners are to eating out – as long as they feel they are getting their money’s worth.
McDonald’s launched its own limited-time offer in late June 2024, aimed at providing value to budget-conscious consumers. And the LTO – McDonald’s foray into this summer’s QSR value wars – was such a resounding success that the fast-food leader decided to extend the deal into December.
McDonald’s LTO drove foot traffic to restaurants nationwide. But a closer look at the chain’s regional captured markets shows that the offer resonated particularly well with “Young Urban Singles” – a segment group defined by Spatial.ai's PersonaLive dataset as young singles beginning their careers in trade jobs. McDonald's locations in states where the captured market shares of this demographic surpassed statewide averages by wider margins saw bigger visit boosts in July 2024 – and the correlation was a strong one.
For example, the share of “Young Urban Singles” in McDonald’s Massachusetts captured market was 56.0% higher than the Massachusetts statewide baseline – and the chain saw a 10.6% visit boost in July 2024, compared to the chain's statewide H1 2024 monthly average. But in Florida, where McDonald’s captured markets were over-indexed for “Young Urban Singles” by just 13% compared to the statewide average, foot traffic jumped in July 2024 by a relatively modest 7.3%.
These young, price-conscious consumers, who are receptive to spending their discretionary income on dining out, are not the sole driver of McDonald’s LTO foot traffic success. Still, the promotion’s outsize performance in areas where McDonald’s attracts higher-than-average shares of Young Urban Singles shows that the offering was well-tailored to meet the particular needs and preferences of this key demographic.
While QSR, fast-casual, and FSR chains have largely boosted foot traffic through deals and specials, reputation is another powerful way to attract diners. Restaurants that earn a coveted Michelin Star often see a surge in visits, as was the case for Causa – a Peruvian dining destination in Washington, D.C. The restaurant received its first Michelin Star in November 2023, a major milestone for Chef Carlos Delgado.
The Michelin Star elevated the restaurant's profile, drawing in affluent diners who prioritize exclusivity and are less sensitive to price increases. Since the award, Causa saw its share of the "Power Elite" segment group in its captured market increase from 24.7% to 26.6%. Diners were also more willing to travel for the opportunity to partake in the Causa experience: In the six months following the award, some 40.3% of visitors to the restaurant came from more than ten miles away, compared to just 30.3% in the six months prior.
These data points highlight the power of a Michelin Star to increase a restaurant’s draw and attract more affluent audiences – allowing it to raise prices without losing its core clientele. Wealthier diners often seek unique culinary experiences, where price is less of a concern, making these establishments more resilient to inflation than more venues that serve more price-sensitive customers.
Dining preferences continue to evolve as restaurants adapt to a rapidly changing culinary landscape. From the rise in fast-casual dining to the benefits of limited-time offers, the analyzed restaurant categories are determining how to best reach their target audiences. By staying up-to-date with what people are eating, these restaurant categories can hope to continue bringing customers through the door.
The COVID-19 pandemic – and the subsequent shift to remote work – has fundamentally redefined where and how people live and work, creating new opportunities for smaller cities to thrive.
But where are relocators going in 2024 – and what are they looking for? This post dives into the data for several CBSAs with populations ranging from 500K to 2.5 million that have seen positive net domestic migration over the past several years – where population inflow outpaces outflow. Who is moving to these hubs, and what is drawing them?
The past few years have seen a shift in where people are moving. While major metropolitan areas like New York still attract newcomers, smaller cities, which offer a balance of affordability, livability, and career opportunities, are becoming attractive alternatives for those looking to relocate.
Between July 2020 and July 2024, for example, the Austin-Round Rock-Georgetown, TX CBSA, saw net domestic migration of 3.6% – not surprising, given the city of Austin’s ranking among U.S. News and World Report’s top places to live in 2024-5. Raleigh-Cary, NC, which also made the list, experienced net population inflow of 2.6%. And other metro areas, including Fayetteville-Springdale-Rogers, AR (3.3%), Des Moines-West Des Moines, IA (1.4%), Oklahoma City, OK (1.1%), and Madison, WI (0.6%) have seen more domestic relocators moving in than out over the past four years.
All of these CBSAs have also continued to see positive net migration over the past 12 months – highlighting their continued appeal into 2024.
What is driving domestic migration to these hubs? While these metropolitan areas span various regions of the country, they share a common characteristic: They all attract residents coming, on average, from CBSAs with younger and less affluent populations.
Between July 2020 and July 2024, for example, relocators to high-income Raleigh, NC – where the median household income (HHI) stands at $84K – tended to hail from CBSAs with a significantly lower weighted median HHI ($66.9K). Similarly, those moving to Austin, TX – where the median HHI is $85.4K – tended to come from regions with a median HHI of $69.9K. This pattern suggests that these cities offer newcomers an aspirational leap in both career and financial prospects.
Moreover, most of these CBSAs are drawing residents with a younger weighted median age than that of their existing residents, reinforcing their appeal as destinations for those still establishing and growing their careers. Des Moines and Oklahoma City, in particular, saw the largest gaps between the median age of newcomers and that of the existing population.
Career opportunities and affordable housing are major drivers of migration, and data from Niche’s Neighborhood Grades suggests that these CBSAs attract newcomers due to their strong performance in both areas. All of the analyzed CBSAs had better "Jobs" and "Housing" grades compared to the regions from which people migrated. For example, Austin, Texas received the highest "Jobs" rating with an A-, while most new arrivals came from areas where the "Jobs" grade was a B.
While the other analyzed CBSAs showed smaller improvements in job ratings, the combination of improvements in both “Jobs” and “Housing” make them appealing destinations for those seeking better economic opportunities and affordability.
Young professionals may be more open than ever to living in smaller metro areas, offering opportunities for cities like Austin and Raleigh to thrive. And the demographic analysis of newcomers to these CBSAs underscores their appeal to individuals seeking job opportunities and upward mobility.
Will these CBSAs continue to attract newcomers and cement their status as vibrant, opportunity-rich hubs for young professionals? And how will this new mix of population impact these growing markets?
Visit Placer.ai to keep up with the latest data-driven civic news.
Convenience stores, or c-stores, have been one of the more exciting retail categories to watch over the past few years. The segment has undergone significant shifts, embracing more diverse offerings like fresh food and expanded dining options, while also exploring new markets and adapting to changing consumer needs. We looked at the recent foot traffic data to see what this category's successes reveal about the current state of brick-and-mortar retail.
Convenience stores are increasingly viewed not only as places to fuel up, but as affordable destinations for quick meals, snacks, and other necessities. And analyzing monthly visits to the category shows that it is continuing to benefit from its positioning as a stop for food, fuel, and in some cases, tourism.
Despite lapping a strong H1 2023, visits to the category either exceeded last year’s levels or held steady during all but one of the first eight months of 2024 – highlighting the segment’s ongoing strength. Only in January 2024 did C-stores see a slight YoY dip, likely reflecting a weather-induced exaggeration of the segment’s normal seasonality.
Indeed, examining monthly fluctuations in visits to c-stores (compared to a January 2021 baseline) shows that foot traffic to the category tends to peak in summer months – perhaps driven by summer road trips and vacations – and slow down significantly in winter. Given summer’s importance for convenience stores, the category’s August YoY visit bump is a particularly promising indication of c-stores’ robust positioning this year.
While some C-store chains, like 7-Eleven, have a nationwide presence, others are concentrated in specific areas of the country. But as the popularity of C-stores continues to grow, regional chains like Wawa, Buc-ee’s, and Sheetz are expanding into new territories, broadening their reach.
Wawa, a beloved brand with roots in Pennsylvania, has become synonymous with its fresh sandwiches, coffee, and a highly loyal customer base. Wawa has been a major player in the c-store space in recent years, with a revamped menu driving ever-stronger foot traffic to its Mid-Atlantic region stores. Between January and August 2024, YoY visits to the chain were mostly elevated. And the chain is now venturing into states like Florida – where its store count has grown significantly over the past few years – as well as Georgia and Alabama.
Meanwhile, Texas favorite Buc-ee’s, though known for its enormous stores and mind boggling array of dining options, has a relatively small footprint – but that might be changing. The chain, which also outpaced its already-strong 2023 performance this year, is opening locations in Arkansas and North Carolina, further building on its reputation as a destination for travelers. And Sheetz, another regional chain with a strong presence in Pennsylvania, is also expanding, with plans to open locations in Southern states like North Carolina and Tennessee.
This trend toward regional expansion offers significant opportunities for growth, not only by increasing store count, but also by reaching new consumer bases and target audiences. Customer behavior differs between markets – and by expanding into new areas, c-stores can tap into unique local visitation patterns.
One metric that highlights local differences in consumer behavior is dwell time, or the amount of time a customer spends inside a convenience store per visit. In some regions, visitors tend to move in and out quickly, while in others, customers linger for longer periods of time.
Analyzing convenience store dwell times by state highlights substantial differences in visitor behavior. During the first eight months of 2024, coastal states (with the exception of Oregon) tended to see shorter average dwell times (between 7.5 and 11.8 minutes). On the other hand, in states like Wyoming, Montana, and North Dakota, average dwell times ranged between 21.2 and 28.2 minutes.
Interestingly, the states with the longest dwell times also have some of the highest percentages of truck traffic on interstate highways – suggesting that these longer stops are perhaps made by long-haul truckers looking for a place to shower, relax, and grab a bite to eat.
Even as regional favorites expand their reach, nationwide classic 7-Eleven is taking steps to further cement its growing role as a prime grab-and-go food and beverage destination. And like other dining destinations, the chain relies on limited-time offers (LTOs) to fuel excitement – and visits.
One of the most iconic, and beloved c-store LTOs is 7-Eleven’s Slurpee Day, which falls each year on July 11th. The event, during which all 7-Eleven locations hand out free slurpees, tends to drive significant upticks in foot traffic – and this year was no exception. Visits to the convenience store jumped by a whopping 127.3% on July 11th, 2024 relative to the YTD daily visit average – proving that good deals will bring customers in the door.
The convenience store sector continues building on the impressive growth seen in 2023. As many chains double down on expanding both their regional presence and their offerings, will they continue to drive growth in the coming years?
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