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After failing to attract a buyer for its retail operations following its February 2026 bankruptcy filing, Eddie Bauer LLC announced it would close all of its stores – though the Eddie Bauer brand will continue to be sold online and through wholesale partners. The company has pointed to headwinds such as inflation and tariff uncertainty as major factors contributing to the chapter 11 filing.
But Eddie Bauer isn’t the only brand facing these pressures – and even in today’s challenging macroeconomic environment, some apparel brands are thriving. So what other factors likely contributed to Eddie Bauer’s decline? We dove into the data to find out.
Unsurprisingly, visits to Eddie Bauer’s store fleet had been declining for some time. In 2024, year-over-year (YoY) traffic to Eddie Bauer fell 9.7% compared to just 4.1% for sportswear and athleisure brands and 3.7% for traditional apparel. And although the brand’s YoY visit gap narrowed in 2025, it remained significantly larger than that of the broader categories.
Alongside the company’s explanations, commentators have pointed to other challenges – including rising competition from athleisure brands, limited traction in Asian markets, and a disconnect between the company’s typical older shopper base and the younger demographic it sought to attract. Observers have also noted that the brand’s shift toward outlet malls, as it closed underperforming full-price locations, blurred its premium identity and conditioned consumers to expect deep discounts.
But location analytics also suggest another way in which Eddie Bauer’s drift towards outlet malls may have undermined the company’s brick-and-mortar performance – a mismatch between Eddie Bauer’s core audience and that of the typical outlet mall shopper.
As retail destinations that typically require a drive and center on discretionary purchases, outlet malls tend to attract visitors from areas with higher median household incomes than the nationwide average. But Eddie Bauer’s audience appears to be even more affluent – suggesting that the brand’s core customers may not have been typical bargain-hunting outlet shoppers.
At the same time, Eddie Bauer’s audience skews older and less family-oriented than that of outlet malls overall. In 2025, households belonging to ESRI ArcGIS Tapestry’s “Mature and Retired Living” segment group accounted for more than half of the brand’s captured market – significantly higher than both the nationwide average and the share seen in outlet mall trade areas.
Meanwhile, other key outlet audiences – such as families – were substantially underrepresented in Eddie Bauer’s trade areas. And despite attempts to woo Gen Z consumers, the brand attracted relatively fewer “Contemporary Households,” a younger-skewing group that includes singles, couples without children, and other non-family households.
Retail turnarounds are far from impossible – especially for legacy brands with strong recognition. But in a retail environment with little room for error, success hinges on getting every detail right. As Eddie Bauer’s experience shows, that means keeping locations, target audiences, and positioning tightly aligned, to deliver a clear, compelling value proposition.
For more data-driven retail analyses, follow Placer.ai/anchor.
Over the past several months since our last self-storage update, the industry has remained surprisingly resilient even as its primary fuel source – housing turnover – dried up. With Public Storage's recent acquisition of National Storage Affiliates, we dove into the data to understand what's driving the category's ongoing growth.
Coming out of the pandemic, demand for self-storage facilities surged due to increased migration trends and living space downsizing trends. According to Extra Space’s December 2025 Company Presentation, 12.6% of U.S. Households utilized self-storage facilities in 2023, up from below 10% before the pandemic. Our location intelligence reinforces this data, as monthly visitation trends to self-storage chains continued to grow in 2025, albeit at a slower pace than previous years (below).
Looking ahead to 2026, can this momentum continue? Home sales have improved modestly as interest rates inched downward, but the industry has had to pivot to generate growth the past few years. With that backdrop, we’ve identified four trends that will define the category in 2026.
With fewer people moving, operators had to cut prices to attract new tenants, with "street rates" declining in recent years. According to [many operators], "street rates" for a 10x10 unit dropped 10%–15% year-over-year in 2025. To compensate, major REITs (like Public Storage and Extra Space) raised rates on current tenants. Because these tenants were also locked into their housing situations, they proved incredibly "sticky" – accepting the price hikes rather than going through the hassle of moving their goods. Our data also shows an increase in the share of frequent visitors (2+ times a month) to self-storage units, reinforcing the idea that storage has become a more embedded, utility-like part of their daily lives – and further reducing their likelihood to churn even as rents rise.
If you can't move, you improve. As migration trends and housing turnover trends have slowed, there appears to be a shift in the rationale behind why customers were renting self-storage units. Instead of "moving storage," demand has shifted toward "lifestyle storage." As homeowners renovated to accommodate hybrid work setups or cleared out spare rooms for new family members, they needed temporary space. We see this with the percentage of remote workers visiting the largest self-storage chains, which has steadily increased the past several years. In turn, this helped put a floor under occupancy rates, which have stabilized in the low-90% range for REIT-managed storage properties and in the low-80% range across all operators.
The self-storage industry is seeing regional divergence. Sunbelt markets (Phoenix, Tampa, Atlanta), which saw massive migration and development booms during the pandemic, faced a supply hangover in 2025. With too many new facilities opening just as migration slowed, these markets saw the steepest drops in pricing compared to high-barrier markets in the Northeast.
However, this “saturation" could offer opportunities within this category. Recently, CubeSmart and CBRE Investment Management announced a $250 million joint venture to acquire assets in these very high-growth markets. Their first acquisition? A property in Phoenix – the poster child for recent oversupply. This move signals a critical shift for 2026: while development is slowing, institutional capital is waking up. Major players are using this period of soft pricing to acquire high-quality assets in the Sunbelt, betting that the long-term population growth will eventually absorb the current supply glut.
While standard drive-up units remain the bread and butter of the consumer self-storage industry, 2025 saw a continued shift toward climate-controlled solutions as a key revenue driver. New development throughout 2025 and into 2026 has skewed heavily toward 100% climate-controlled facilities. As consumers store higher-value items – such as electronics, wine, and collectibles – rather than just "garage overflow," they have proven willing to pay a higher premium for strict humidity and temperature regulation.
Simultaneously, investors tracking the self-storage sector have historically looked to industrial cold storage (refrigerated warehousing for food and pharma) as a parallel play, given both asset classes benefit from similar "last-mile" logistics tailwinds. However, the 2026 outlook for the industrial side has shifted significantly.
While the rise of online grocery and pharmaceutical delivery initially made refrigerated warehousing a defensive darling, the sector is now digesting a massive pandemic-era development boom. The U.S. industrial cold storage market is currently facing a notable supply glut. As industry leader Americold recently highlighted, "[O]ver the last few years, it's in excess of 15% of incremental capacity that's been added mainly by a lot of new market entrants whose business model is to get a little bit of scale and then try to transact."
This creates a split narrative for 2026: while consumer climate-controlled self-storage continues to capture premium yields, the industrial cold storage sector is entering a period of recalibration, forcing operators to focus on absorbing excess capacity and improving efficiency rather than breaking ground on new builds. We see this in visitation trends to cold-storage leaders Americold and Lineage, where visits continue to trend downward versus 2022 as these chains see an increase in new competitors.
As we head deeper into 2026, the industry is watching for the "thaw." If interest rates moderate and housing turnover picks up, street rates could rally quickly. But until then, the name of the game is consolidation and efficiency. Expect more REITs to follow CubeSmart’s lead, partnering with institutional capital to scoop up modern, climate-controlled assets while smaller operators struggle to compete in a low-volume environment.
For more data-driven CRE insights, visit placer.ai/anchor.
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Recent McDonald's menu additions such as the annual Shamrock Shake release and the Big Arch Burger pilot appear to have generated only a modest lift in McDonald’s foot traffic. Although visits increased 5.5% year-over-year during the week of February 16th 2026 – the week of the Shamrock Shake's launch – traffic the following week dipped -0.5%, suggesting the seasonal item generated only a short-lived bump rather than a sustained lift in visits. And the heavily publicized Big Arch generated just a 2.2% YoY traffic boost during its launch week of March 2nd to March 8th 2026 – although performance may strengthen as the item gains traction with consumers.
So while these LTOs did generate modest traffic lifts for the chain, the impact was relatively muted compared to some of last year’s stronger performers, such as McDonald’s Grinch Meals. These results may suggest that consumers are becoming increasingly selective in their spending – potentially making it more difficult for QSR chains to rely on LTOs alone to drive meaningful traffic momentum without additional value-oriented offerings.
While recent LTOs delivered only modest gains on their own, pairing LTOs with a clearer value proposition – such as the upcoming McValue 2.0 – may prove more effective, with limited-time items drawing attention and value-focused offerings encouraging repeat visits. In a price-sensitive environment, this dual strategy could drive a more sustainable traffic lift than product innovation or value promotions alone.
For more data-driven restaurant insights, visit placer.ai/anchor.
Placer.ai leverages a panel of tens of millions of devices and utilizes machine learning to make estimations for visits to locations across the US. The data is trusted by thousands of industry leaders who leverage Placer.ai for insights into foot traffic, demographic breakdowns, retail sale predictions, migration trends, site selection, and more.
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Confidence in physical retail remains solid this year. More than 55% of survey respondents said they feel confident or very confident about brick-and-mortar performance in 2026, while only around 20% expressed concern.
This sentiment aligns with the broader performance of the sector. The chart below shows two consecutive years of modest but positive retail visit growth, with year-over-year (YoY) gains hovering around 1%. While that pace reflects a relatively stable – rather than booming – environment, it reinforces the idea that physical retail continues to demonstrate resilience despite macroeconomic uncertainty.
Still, the results also highlight an element of caution. Nearly half of respondents reported feeling neutral or concerned about the coming year, suggesting that while the foundation for brick-and-mortar retail remains strong, industry leaders are watching economic conditions closely.
At the same time, most respondents believe online retail will continue to grow faster than physical stores. Nearly 70% said they expect e-commerce to outpace brick-and-mortar growth over the next twelve months.
This outlook is hardly surprising given e-commerce’s smaller starting point and the ongoing digital expansion across the retail landscape. But crucially, the expectation of stronger online growth does not translate into pessimism about stores. Nearly a third of respondents said they were actually more bullish on physical retail than on e-commerce.
These findings suggest the industry has moved beyond the once-dominant narrative that e-commerce would inevitably replace physical retail. Instead, the data reflects a growing consensus that the two channels are increasingly complementary – a story also supported by visit data, which shows e-commerce activity growing faster than brick-and-mortar retail even as both continue to expand. The rise of online retail doesn’t reduce the necessity of physical stores – it pushes retailers, brands, and landlords alike to develop clearer strategies for how online and offline channels work together to create a seamless consumer journey that leverages the unique advantages of each.
When we asked professionals about the role agentic AI could play in retail in the coming years, our expectation was a resounding vote for the lift it would provide e-commerce. And indeed, 44% of respondents said they expect agentic AI to increase the share of online retail.
However, reflecting the growing recognition that retail’s future lies in more harmonized commerce, 34% of respondents said they believe agentic AI will lift all boats – increasing incremental growth across commerce more broadly.
This is a significant signal. It reinforces the idea that innovation, whether centered on physical or digital shopping, is most powerful when it creates value across the entire ecosystem. Rather than viewing technology as a zero-sum competition between channels, many retail leaders increasingly see tools like AI as ways to strengthen the overall shopping experience. And that perspective makes it more likely that retailers and brands will evaluate new technologies through a broader lens that prioritizes integrated commerce.
Understanding why consumers visit stores remains central to shaping the next phase of brick-and-mortar retail. When survey participants were asked to identify the key drivers of in-store visits, tactile experiences topped the list, with nearly 80% of respondents pointing to the ability to see, touch, and try products as among the biggest advantages of physical retail. Another 70% highlighted the enjoyment of the in-store shopping experience itself – emphasizing another element that is difficult to replicate online.
At the same time, respondents expressed skepticism about some of the strategies often cited as drivers of store traffic. Only 12% identified services such as buy-online-pickup-in-store (BOPIS) or in-store returns as major traffic drivers. This suggests that while these services are important components of omnichannel retail – reflected, for example, in a growing share of short in-store visits across industries – they may not yet be fully integrated into shopping journeys in ways that maximize their potential.
Perhaps most surprisingly, only 30% of respondents said stores excel at inspiring shoppers to discover new products. Yet this capability may represent one of brick-and-mortar retail’s greatest untapped opportunities. Physical environments are uniquely positioned to spark discovery through merchandising, layout, and experiential elements – factors that can expand baskets and deepen customer engagement.
Industry sentiment also varies significantly across retail segments, with sector-level expectations closely tracking last year’s visit performance. When asked whether they expected various categories to grow, remain stable, or decline over the next twelve months, respondents were more likely to express confidence in continued growth or stability for segments that experienced stronger YoY traffic trends in 2025.
Wholesale clubs, which saw visits rise 5.0% YoY in 2025, topped the list – with 97% of respondents expecting growth or stability in the months ahead, followed by grocery stores at 96%. The strength of both sectors reflects broader consumer trends, including suburban living, increased home cooking, and a heightened focus on value and wellness.
Still, respondents are significantly more bullish on wholesale clubs than on traditional grocery stores: Breaking down the growth / stability outlook down further, 61% of respondents expect clubs to see continued growth, compared with about 35% for grocery stores.
One reason may be the club model’s ability to capture large shopping baskets. While consumers today are increasingly willing to visit multiple stores to find the best value or selection, club retailers excel at capturing a significant share of the shopping list once they secure the visit. Grocery stores, on the other hand, attract frequent trips – but these may include fewer items as shoppers spread spending across multiple retailers. This dynamic may push grocers to focus more heavily on specialization, differentiated offerings, and higher value per visit.
Mass merchandisers such as Walmart and Target also received strong confidence scores, reflecting Walmart’s recent performance and expectations surrounding Target’s ongoing turnaround strategy. Meanwhile, discount and dollar stores – another category that has performed well recently – were widely expected to remain stable, with fewer respondents predicting continued rapid growth for the sector in the months ahead.
There are few sectors we love talking about more than malls. Several years ago, the prevailing expectation was of a perpetual decline for the sector as a whole. But the “death of the mall” narrative has quickly diminished – or at least evolved. In our survey, 54% of respondents expected continued success for Tier 1 malls, while 30% anticipated decline across all mall types. Only 16% expected Tier 2 malls to perform well, and less than half of those believed that success would extend further down the tier ladder.
This largely aligns with visit data, with top-tier indoor malls driving significant success in recent years – a trend that will likely be further reinforced by the continued shift of key audiences toward the suburbs.
However, the potential of Tier 2 malls remains an area worth watching. A major part of the success of top malls has been a shift away from heavy concentrations of apparel and beauty toward more diverse tenant mixes, along with a stronger emphasis on elevated dining and experiences. This has been a critical element for the highest-performing malls. But in an environment where space is increasingly at a premium – and where less space is being dedicated to apparel and beauty in these top locations – a significant opportunity may emerge for Tier 2 malls to provide a stage for retailers that can no longer find a home in the most sought-after centers.
The result is an opportunity for these properties to become the “big fish” in smaller ponds, particularly if they focus on building tenant mixes that complement major regional players rather than compete with them directly. Executed well, this strategy could reduce direct competition while creating more destinations where consumers want to spend time.
Industry sentiment, especially when combined with visit data, offers a valuable snapshot of how retail is likely to evolve in the year ahead. Together, they point to a sector defined by steady physical retail performance, growing integration between online and in-store channels, optimism around technologies like AI, and shifting opportunities across segments from wholesale clubs and grocery to evolving mall formats.
For more data-driven retail insights visit Placer.ai/anchor.
Placer.ai leverages a panel of tens of millions of devices and utilizes machine learning to make estimations for visits to locations across the US. The data is trusted by thousands of industry leaders who leverage Placer.ai for insights into foot traffic, demographic breakdowns, retail sale predictions, migration trends, site selection, and more.
Swig, the Utah-born drive-thru concept that helped popularize customizable dirty sodas, has evolved from a regional novelty into one of the fastest-growing beverage chains in the country. Known for mixing classic soft drinks with flavored syrups, creams, and fruit add-ins – alongside cookies and pretzel bites – the brand has expanded well beyond its Mountain West roots.
This expansion is fueled by significant online hype, with new locations often generating lines that wrap around the block and leave some customers waiting over an hour to try their first drink. And as the brand pushes deeper into the Sunbelt and beyond, location analytics offer a window into how this growth is impacting traffic trends and reshaping the brand's audience.
Unsurprisingly, the data shows that as Swig has expanded its footprint, it has successfully grown its overall traffic. In February 2026, visits to the chain were 137.9% higher than in February 2023 – and up 30.7% year-over-year compared to February 2025.
The data also shows the emergence of a clear seasonal pattern, with visits to Swig peaking each year in the summer as people seek out cool soda treats to beat the heat. Notably, the magnitude of the summer peak in 2025 was larger than ever before, suggesting that as the chain becomes more mainstream, its seasonal appeal may be increasing. But the dramatic increase in off-season visits as well shows that Swig is successfully building a loyal customer base that craves its offerings year-round.
This rapid growth is also leading to a meaningful broadening of Swig’s customer base. While the chain’s trade areas still remain affluent relative to the average U.S. household, the median household income (HHI) of its captured market is dropping as it reaches a more varied demographic.
And while "Wealthy Suburban Families" and "Upper Suburban Diverse Families" remain Swig’s largest audience segments, their total share of the market has edged down as engagement deepens across additional cohorts. This includes, notably, households in Blue Collar Suburbs who are now overindexed at 8.1% of Swig’s captured market, compared to a 6.9% nationwide baseline.
As Swig continues its transition from a niche favorite to a broad staple, it will inevitably face the challenges of sustained growth, such as maintaining unit-level productivity and operational consistency. However, for now, the data and the visible excitement surrounding new openings suggest that the dirty soda pioneer still has plenty of fizz left.
For more data-driven dining analyses follow Placer.ai/anchor.
Placer.ai leverages a panel of tens of millions of devices and utilizes machine learning to make estimations for visits to locations across the US. The data is trusted by thousands of industry leaders who leverage Placer.ai for insights into foot traffic, demographic breakdowns, retail sale predictions, migration trends, site selection, and more.
Foot traffic to retail corridors nationwide plummeted during the shelter-in-place restrictions of 2020, and recent data shows that visits have yet to fully recover to 2019 levels. While traffic has steadily improved each year since the pandemic lows, 2025 visits remain 11.7% below their pre-pandemic baseline.
What is holding the retail corridor recovery back? We dove into the data to find out.
Retail corridors are typically concentrated in downtown areas, featuring a mix of stores, restaurants, bars, and offices – and are often surrounded by even more office space. And comparing average visits per day of week in 2025 and 2019 suggests that the persistence of hybrid and remote work is likely driving much of the lag.
Monday through Thursday foot traffic to retail corridors was down between 16.3% and 17.3% in 2025 compared to 2019. The gap narrowed to 11.7% on Friday as activity began to shift toward the weekend, and nearly disappeared on Saturday (-2.8%) and Sunday (-4.2%).
The much larger weekday deficit suggests that reduced office attendance continues to weigh on downtown retail activity. With fewer workers commuting daily, there are fewer pre-work coffee stops, lunchtime errands, and spontaneous after-work visits that once fueled these corridors. So while leisure-driven weekend traffic has largely rebounded, the office-driven weekday ecosystem that historically sustained retail corridors has yet to fully return.
Hourly data reinforces the role that office attendance (or lack thereof) is playing in the retail corridor visit lag. The steepest declines are concentrated squarely within traditional workday hours: visits between 7 AM and 11 AM are down 23.7% compared to 2019, followed by a 19.2% decline from 11 AM to 3 PM. But the gap is much more moderate both earlier and later in the day (from 12 AM to 7 AM and 3 PM to 12 PM) in the day later in the day, with visits down 13.7% from 3 PM to 7 PM and just 9.6% after 7 PM. This suggests that the missing traffic is closely tied to reduced daily commuting – fewer morning coffee runs, lunch breaks, and midday errands – while evening and leisure-oriented visits have proven far more resilient. With more schedule flexibility, downtown businesses and civic stakeholders may need to focus on creating reasons for consumers to intentionally visit downtowns during slower weekday hours, rather than relying on routine commuter traffic to fill stores organically.
The retail corridor traffic data suggests that downtowns are facing a structural shift in when and why people visit. With fewer daily commuters, stakeholders may need to focus less on restoring a five-day office week and more on activating the days and hours that already show strength. Civic leaders can prioritize safety, cleanliness, transit reliability, and targeted weekday programming or events that encourage intentional trips downtown. Retailers and dining concepts can adapt hours, promotions, and experiences to better align with flexible work schedules. In a hybrid era, success may depend less on recreating old commuting patterns and more on making downtown a destination people choose – not just a place they pass through.
For more data-driven retail insights, visit placer.ai/anchor.
Placer.ai leverages a panel of tens of millions of devices and utilizes machine learning to make estimations for visits to locations across the US. The data is trusted by thousands of industry leaders who leverage Placer.ai for insights into foot traffic, demographic breakdowns, retail sale predictions, migration trends, site selection, and more.
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1. Overall dining traffic is mostly flat, but growth is concentrated in specific areas.
While nationwide dining visits were nearly unchanged in early 2025, western states like Utah, Idaho, and Nevada showed moderate growth, while states in the Midwest and South, along with Washington D.C., saw declines.
2. Fine dining and coffee chains are growing through expansion, not just busier locations.
These two segments were the only ones to see an increase in total visits, but their visits-per-location actually decreased, indicating that opening new stores is the primary driver of their growth.
3. Higher-income diners are driving the growth in resilient categories.
The segments that saw visit growth—fine dining and coffee—also attracted customers with the highest median household incomes, suggesting that affluent consumers are still spending on dining despite economic headwinds.
4. Remote work continues to reshape dining habits.
The share of suburban customers at fine dining establishments has increased since 2019, while it has decreased for coffee chains. This reflects a shift towards "destination" dining closer to home and away from commute-based coffee runs.
5. Limited-service restaurants own the weekdays; full-service restaurants win the weekend.
QSR, fast casual, and coffee chains see the majority of their traffic from Monday to Friday, whereas casual and fine dining see a significant spike in visits on weekends.
6. Each dining segment dominates a specific time of day.
Consumer visits are highly predictable by the hour: coffee leads in the early morning, fast casual peaks at lunch, casual dining takes the afternoon, fine dining owns the dinner slot, and QSR captures the late-night crowd.
Overall dining visits held relatively steady in the first five months of 2025, with year-over-year (YoY) visits to the category down 0.5% for January to May 2025 compared to the same period in 2024. Most of the country saw slight declines (less than 2.0%), though some states and districts experienced larger drops: Washington, D.C, saw the largest visit gap (-3.6% YoY), followed by Kansas and North Dakota (-2.9%), Arkansas (-2.8%), Missouri and Kentucky (-2.6%), Oklahoma (-2.1%), and Louisiana (-2.0%).
Still, there were several pockets of moderate dining strength, specifically in the west of the United States. January to May 2025 dining visits in Utah, Idaho, and Nevada increased 1.8% to 2.4% YoY, while the coastal states saw traffic rise 0.6% (California) to 1.2% (Washington). Vermont also saw a slight increase in dining visits (+1.9%).
Diving into visit trends by dining segment shows that fine dining and coffee saw the strongest overall visit trends, with visits to the segments up 1.3% and 2.6% YoY, respectively, between January and May 2025. But visits per location trends were negative for both segments – a decline of 0.8% YoY for fine dining and 1.8% for coffee during the period – suggesting that much of the visit strength is due to expansions rather than more crowded restaurants and coffee shops.
In contrast, full-service casual dining saw overall visits decrease by 1.5%, while visits per location remained stable (+0.2%) YoY between January and May 2025. Several casual dining chains have rightsized in the past twelve months – including Red Lobster, TGI Fridays, and Outback Steakhouse – which impacted overall visit numbers. But the data seems to show that their rightsizing was effective, as the remaining locations successfully absorbed the traffic and maintained performance levels from the previous year. And the monthly data also provides much reason for optimism, with May traffic up both overall and on a visit per location basis – suggesting that the casual dining segment is well positioned for growth in the second half of 2025.
Meanwhile, QSR and fast casual chains saw similar minor visits per venue dips (-1.5% and -1.2%, respectively). At the same time, QSR also saw an overall visit dip (-0.8%) while traffic to fast casual chains increased slightly (+0.3%) – suggesting that the fast casual segment is expanding more aggressively than QSR. But the two segments decoupled somewhat in May, with overall traffic and visits per venue to fast casual chains up YoY while traffic remained flat and visits per venue fell slightly for QSR – perhaps due to the relatively greater affluence of fast casual's consumer base.
Analyzing the income levels of visitors to the various dining segments over time shows that each segment followed a slightly different trend – and the differences in visitor income may help explain some of the current traffic patterns.
The only three segments with YoY visit growth – casual dining, fine dining, and coffee – also had the highest captured market median household income (HHI). Although the median HHI in the captured market of upscale and fine dining chains fell after COVID, it has risen back steadily over time and now stands at $98.0K – slightly higher than the $97.1K median HHI between January to May 2019. This may explain the segment's resilience in the face of wider consumer headwinds. Meanwhile, the median HHI at fast casual and coffee chains has fallen slightly, perhaps due to aggressive expansions in the space – including Dave's Hot Chicken and Dutch Bros – which likely broadened the reach of the segments, driving visits up and trade area median HHI down.
Like fine dining, casual dining also saw its trade area median HHI increase slightly over time – but the segment has still been facing visit dips. This could mean that, even though consumers trading down to casual dining may have boosted the trade area median HHI for the segment, it still might not have been enough to make up for the customers lost to tighter budgets.
The QSR segment saw its trade area median HHI remain remarkably steady – and visits to the segment have also been quite consistent – staying between $70.6K and $70.9K between 2019 and 2025 – which may explain why the segment's visits remained relatively stable YoY.
Diving into the psychographic segmentation shows that, although the fine dining segment attracted visitors from the highest-income areas between January and May 2025, fast casual chains drew the highest share of visitors from suburban areas, followed by casual dining and coffee. QSR attracted the smallest share of suburban visitors, with just 30.5% of the category's captured market between January and May 2025 belonging to Spatial.ai: PersonaLive suburban segments.
But looking at the data since 2019 reveals small but significant changes in the shares of suburban audiences in some categories' captured markets. And although the percentage changes are slight, these represent hundreds of thousands of diners every year.
The data shows that shares of suburban segments in the captured markets of fine dining chains have increased, while their share in the captured market of coffee chains has decreased. The shares of suburban visitors to QSR, fast casual, and casual chains have remained relatively steady.
This may suggest that the COVID-19 pandemic and the subsequent rise of remote and hybrid work models are still impacting consumer dining habits, benefiting destination-worthy experiences in suburban locales such as fine dining chains while reducing the necessity of daily coffee runs that were often tied to commuting and office work. Meanwhile, the stability in QSR, fast casual, and casual dining segments could indicate that these categories continue to meet consistent suburban demand for convenience and everyday dining, largely unaffected by the redistribution seen in the fine dining and coffee sectors.
Although QSR, fast casual, casual dining, fine dining, and coffee all fall under the wider dining umbrella, the data shows distinct consumer behavior patterns regarding visits to these five categories.
Limited service segments, including QSR, fast casual, and coffee tend to see higher shares of visits on weekdays, while full service segments – casual dining and fine dining – receive higher shares of weekend visits. Diving deeper shows that QSR has the largest share of weekday visits, with 72.3% of traffic coming in between Monday and Friday, followed by fast casual (69.8% of visits on weekdays) and coffee (69.4% of visits on weekdays.) Looking at trends within the work week shows that QSR receives a slightly larger visit share between Monday and Thursday compared to the other limited service segments. Meanwhile, coffee seems to receive the smallest share of Friday visits – 16.3% compared to 17.0% for fast casual and 17.2% for QSR.
On the full-service side, casual dining and fine dining chains have relatively similar shares of weekend visits (39.0% and 38.8%, respectively), but fine dining also sees an uptick of visits on Fridays (with 19.1% of weekly visits) as consumers choose to start the weekend on a festive note.
Hourly visit patterns also show variability between the segments. Coffee is the unsurprising leader of early visits, with 14.6% of visits taking place before 8 AM and, almost two-thirds (64.9%) of visits taking place before 2 PM. Fast casual leads the lunch rush (29.4% of visits between 11 AM and 2 PM), casual dining chains receive the largest share of afternoon (2 PM to 5 PM) visits, and fine dining chains receive the largest share of dinner visits, with almost 70% of visits taking place between 5 PM and 11 PM. QSR leads the late night visit share – 4.1% of visits take place between 11 PM and 5 AM – followed by casual dining chains (3.2% late night and overnight visit share), likely due to the popularity of 24-hour diners.
This suggests that each dining segment effectively "owns" a different part of the day, from the morning coffee ritual and the quick lunch break to the leisurely evening meal and late-night cravings.
An analysis of average visit duration also reveals a small but lasting shift in post-pandemic dining behavior. Between January and May 2025, the average dwell time for nearly every dining segment was shorter than during the same period in 2019. This efficiency trend is evident across limited-service categories like QSR, fast casual, and coffee shops, suggesting a continued emphasis on speed and convenience.
The one notable exception to this trend is upscale and fine dining, where the average visit duration has actually increased compared to pre-COVID levels. This may suggest that, while visits to most segments have become more transactional, consumers are treating fine dining more as an extended, deliberate experience, reinforcing its position as a destination-worthy occasion.
1. The Midwest is the only region where Black Friday retail visits outpace Super Saturday.
But several major Midwestern markets, including Chicago and Detroit, actually see higher shopper turnout on Super Saturday.
2. Holiday season demographic shifts also vary across regions.
Nationwide, electronics stores see a slight uptick in median household income (HHI) in December – yet in certain markets, electronics retailers such as Best Buy see a drop in captured market median HHI during this period.
3. Back-to-school shopping starts earliest for clothing and office supplies retailers in the South Central region, likely tied to earlier school schedules.
But back-to-school visits surge higher for these retailers in the Northeast later in the season.
4. The share of college students among back-to-school shoppers varies by region.
In August 2024, “Collegians” made up the largest share of Target’s back-to-school shopping crowd in New England, and the smallest in the West.
5. Mother’s Day drives the biggest restaurant visit spikes in the Middle Atlantic Region, while Father’s Day sees its biggest boosts in the South Atlantic states.
Mother’s Day diners also tend to travel farther to celebrate, suggesting an extra effort to treat mom.
6. Western states proved particularly responsive to McDonald’s recent Minecraft promotion.
During the week of A Minecraft Movie’s release, the promotion drove significantly higher visit spikes in the West than in the Eastern U.S.
Retailers rely on promotional events to fuel sales – from classics like Black Friday and back-to-school sales to unique limited-time offers (LTOs) and pop-culture collaborations. Yet consumer preferences and behavior can vary significantly by region, making it critical to tailor campaigns to local markets.
This report dives into the data to reveal how consumers in 2025 are responding to major retail promotions, exploring both broad regional trends and more localized market-level nuances. Where is Black Friday most popular, and which areas see a bigger turnout on Super Saturday? Where are restaurants most packed on Mother’s Day, and where on Father’s Day? Which region kicks off back-to-school shopping – and where are August shoppers most likely to be college students? And also – which part of the country went all out on McDonald’s recent Minecraft LTO?
Read on to find out.
Promotions aimed at boosting foot traffic on key holiday season milestones like Black Friday and Super Saturday are central to retailers’ strategies across industries. The day after Thanksgiving and the Saturday before Christmas typically rank among in-store retail’s busiest days, last year generating foot traffic surges of 50.1% and 56.3%, respectively, compared to a 12-month daily average. And
But a closer look at regional data shows that these promotions land differently across the country. In the Midwest, Black Friday outperformed Super Saturday last year, fueling the nation’s biggest post-Thanksgiving retail visit spike – a testament to the milestone’s strong local appeal. Meanwhile, in the Western U.S. Black Friday trailed well behind Super Saturday, though both milestones drove smaller upticks than in other regions. And in New England and the South Central states, Super Saturday achieved its biggest impact, suggesting that last-minute holiday specials may resonate especially well in that area.
Digging deeper into major Midwestern hubs shows that even within a single region, holiday promotions can produce widely different responses.
In St. Louis, Indianapolis, and Minneapolis, for example, consumers followed the broader Midwestern pattern, flocking to stores on Black Friday exhibiting less enthusiasm for Super Saturday deals. By contrast, Chicago and Detroit saw Super Saturday edge ahead, with Chicago’s Black Friday peak falling below the nationwide average of 50.1%. examples highlight the power of local preferences to shape holiday campaign results.
Holiday promotions don’t just drive visit spikes; they also spark subtle but significant changes in the demographic profiles of brick-and-mortar shoppers, expanding many retailers’ audiences during peak periods. And these shifts, too, can vary widely across regions.
Outlet malls, department stores, and beauty & self-care chains, for instance, which typically attract higher-income consumers, tend to see slight declines in the median household incomes (HHI) of their visitor bases in December. This dip may be due to promotions drawing in more mid- and lower-income shoppers during the peak holiday season. Electronics stores and superstores, on the other hand, which generally serve a less affluent base, see modest upticks in median HHI in the lead-up to Christmas.
But once again, drilling further down into regional chain-level data reveals more nuanced regional patterns. Take Best Buy, a leading holiday season electronics destination. In some of the chain’s biggest, more affluent markets – including New York, Los Angeles, and Chicago – the big-box retailer sees small dips in median HHI during December. But in Atlanta and Houston – also relatively affluent, but slightly less so – December saw a minor HHI uptick, hinting at a stronger holiday rush from higher-income shoppers in those cities.
Back-to-school promotions also play a pivotal role in the retail calendar, with superstores, apparel chains, office supply stores and others all vying for shopper attention. And though summer markdowns drive increased foot traffic nationwide, both the timing of these shifts and the composition of the back-to-school shopping crowd differ among regions.
Analyzing weekly fluctuations in regional foot traffic to clothing and office supplies stores shows, for example, that back-to-school shopping picks up earliest in the South Central region, likely due to earlier school start dates.
But the biggest visit peaks occur in the Northeast – with clothing retailer foot traffic surging in New England in late August, and office supplies stores seeing an even bigger surge in the Middle Atlantic region in early September. Retailers and advertisers can plan their back-to-school deals around these differences, targeting promotions to local trends.
Though K-12 families drive much of the back-to-school rush, college student shoppers also play a substantial role. And here, too, their participation varies by region.
For instance, the “Collegians” segment accounted for 2.2% of Target’s shopper base nationwide over the past year – rising to 3.0% in August 2024. But regionally, the share of “Collegians” soared as high as 4.0% in New England versus just 2.2% in the West. So while retailers in New England may choose to lean into the college vibe, those in Western states may place greater emphasis on families with children.
When it comes to dining, Mother’s Day and Father’s Day are the busiest days of the year for the full-service restaurant (FSR) category, as families treat their parents to a hassle-free meal out. And eateries nationwide capitalize on this trend by offering a variety of deals and promotions that add a little extra charm (and value) to the experience.
Nationwide, Mother’s Day drives more FSR foot traffic than Father’s Day – except in parts of the Pacific Northwest, where Father’s Day traditions run especially deep. Still, the size of these holiday boosts varies substantially by region.
This year, for instance, Mother’s Day (May 11, 2025) drove the largest FSR surge in the Middle Atlantic, with the South Atlantic and Midwest not far behind. Father’s Day, by contrast, saw its biggest lift in the South Atlantic. Mother’s Day proved least resonant in the West, whereas Father’s Day had its smallest impact in New England.
Dining behavior also differs between the two occasions. Mother’s Day celebrants display a slight preference for morning FSR visits and a bigger one for afternoon visits, while Father’s Day crowds favor evenings – perhaps reflecting a preference for sports bars and later dinners with dad. Another interesting nuance: On Mother’s Day, a larger share of FSR visits originate from between 3 and 50 miles away compared to Father’s Day, suggesting that families go the extra mile – sometimes literally – to celebrate mom.
While established dates like Black Friday or Mother’s Day naturally spur promotions, brands can also craft their own moments with limited-time offers (LTOs). And much like holiday campaigns, these retailer-led events can produce varied outcomes across different regions.
Fast food restaurants, for example, have leaned heavily on limited-time offers (LTOs) and pop-culture tie-ins to fuel buzz in what remains a challenging overall market. And McDonald’s recent Minecraft promotion, launched on April 1, 2025 to coincide with the April 3 release of A Minecraft Move, shows just how impactful the practice can be.
Nationally, the Minecraft promotion (featuring offerings for both kids and adults) drove a 6.9% lift in visits during the movie’s opening week. But the impact of the promotion was far from uniform across the U.S. Many of McDonald’s Western markets – including Utah, Idaho, Nevada, California, Texas, Arizona, Colorado, and Oregon – recorded visit lifts above 10.0%. Meanwhile, Kentucky saw a 2.1% dip, and several other Eastern states registered modest gains below 3.0%. The McDonald’s example illustrates the power of regional tastes to shape the success of even the most creative pop-culture collabs.
Whether it’s properly timing holiday and back-to-school discounts, recognizing where Mother’s Day or Father’s Day will resonate more, or pinpointing markets that respond best to pop-culture tie-ins, the data reveals that effective promotions depend heavily on local nuances. And by analyzing regional and DMA-level trends, retailers and advertisers can craft compelling, relevant campaigns that heighten engagement where it matters most.
1. Experiential and niche retailers can deliver anchor-level traffic. At Towne East Square Mall, the addition of a Scheels in 2023 significantly increased foot traffic and long-distance travelers, while Barnes & Noble at Coronado Center in Albuquerque has become a key driver of both foot traffic and higher-spend demographics.
2. Size isn’t everything – especially for dining venues. At Glendale Galleria and Northridge Fashion Center, smaller restaurants attracted more foot traffic than some traditional anchors.
3. Refocusing on tenants’ actual traffic contributions enables a flexible anchor approach. Balancing weekend draws like Scheels with weekday favorites such as Costco or Chick-fil-A can help maintain steady visitor flow throughout the week. Similarly, onsite fitness clubs can shift traffic to earlier in the day – an opportunity to adjust store hours and capture additional morning shoppers.
4. Temporary pop-ups can form an integral part of a visit-focused anchor strategy. The Barbie Dreamhouse Living Truck Tour generates mall visit spikes well above typical Saturday levels. Operators can integrate these events into their overall anchor strategies, offering preferential terms to high-performing pop-ups.
5. New tenants can boost traffic for existing stores in similar categories. After Aldi joined Green Acres Commons in February 2020, visits to an existing BJ’s Wholesale Club trended upwards. This synergy highlights how overlapping audiences can become a strength, creating a larger overall customer base.
Malls, it seems, are cool once again. After languishing in the wake of the pandemic, shopping centers across the country are thriving – reinventing themselves as prime “third places” where people can hang out, shop, and grab a bite to eat.
One key driver behind this resurgence is a shift in how malls view their anchor tenants. While traditional mainstays like Macy’s and JCPenney still play an important role, specialized offerings – from popular eateries to fitness centers and immersive retailtainment destinations – are increasingly taking center stage. These attractions maximize the experiential value that brick-and-mortar venues can deliver, driving visits and sales for the center as a whole.
Against this backdrop, this report leverages the latest location intelligence data to explore the types of tenants that can function as mall anchors in 2025. Should mall operators still focus on general merchandisers to draw crowds, or can dining chains and more niche retailers also do the job? How important is square footage in identifying the anchor-like tenants in a shopping center? And how can a visit-focused approach help mall operators select effective anchor or anchor-like tenants – whether to fill big-box spaces or to leverage the leasing perks traditionally reserved for major large-format chains?
One of the most important functions of a mall anchor is to ensure steady visitation – providing its smaller tenants with a constant flow of potential customers. And as the role of the mall continues to evolve, analyzing the actual foot traffic impacts of different types of businesses can help identify the kinds of non-traditional anchors best suited to fulfill that purpose.
Experiential venues, for example, are particularly well-poised to serve as powerful anchors in today’s retail environment – as illustrated by the visit surge experienced by Towne East Square Mall in Wichita, KS following the addition of a Scheels in July 2023.
By blending traditional retail with immersive experiences, Scheels has emerged as a true experiential destination. And this pull has also helped the mall draw more long-distance visitors willing to travel to enjoy Scheels’ offerings. In 2024, 41.9% of the mall’s customers traveled more than 50 miles to visit, compared to 35.8% back in 2018 when Sears occupied the same lot.
Traditionally, anchors aimed to please the widest possible audiences – with department stores, big-box chains, and grocery stores leading the way. But visitation data shows that niche concepts can also deliver anchor-level traffic if they’re compelling enough to attract dedicated fans.
The experience of the Barnes & Noble at Coronado Center in Albuquerque, NM is a case in point. After being written off as all but obsolete, Barnes & Noble has staged an impressive comeback in recent years, finding success through a more curated, localized approach to book selling. And despite not being a formal anchor, the Coronado Center Barnes & Noble accounted for 7.9% of visits to the mall in 2024 – outperforming both Macy’s and JCPenney.
Year-over-year data also shows foot traffic surging at the Coronado Center Barnes & Noble, lifting overall visitation to the mall. And demographic data reveals that the bookstore draws a more affluent audience than either the center as a whole or the two department stores – attracting a crowd with more spending power.
This example also illustrates how smaller tenants can sometimes draw larger crowds. Even though Barnes & Noble occupies a smaller onsite space than either Macy’s or JCPenney, it is proving a powerful visit driver out of proportion to its physical size.
Dining chains are also adept at punching above their square footage – often attracting crowds disproportionate to their size.
Despite its relatively small footprint, for example, the In-N-Out Burger at Glendale Galleria drew an impressive 8.6% of visits to the mall complex in 2024, outpacing some of the mall’s official anchors like DICK’s Sporting Goods, Macy’s, and JCPenney. Still, the onsite Target drew even larger crowds at 14.4% of visits.
A similar pattern emerged at Northridge Fashion Center, where Porto’s Bakery and Cafe captured a notable 15.6% of visits to the complex in 2024 – more than some of the center’s traditional department stores.
These examples underscore the potential for dining chains, which typically require less space, to serve as micro-anchors by consistently attracting outsized crowds – a key consideration for mall operators looking to sustain visitor traffic.
Refocusing on tenants’ actual foot traffic contributions also opens the door to a more flexible and dynamic approach to anchor selection and management – one that considers each venue’s unique visitation patterns.
Seasonal factors, for example, can make certain anchors more powerful at specific times of the year, while different venues shine on particular days of the week.
At Jordan Creek Town Center in West Des Moines, Iowa, for instance, Scheels and Costco each delivered just under 20.0% of the complex’s overall visits in 2024. But the two retailers’ daily patterns differed significantly: Scheels saw bigger crowds on weekends, while Costco was the primary weekday destination.
Understanding differences like these can help operators optimize their tenant mix to maintain a balanced flow of shoppers throughout the week.
Another example of the impact of differing weekday traffic patterns is offered by the impact of mall-based Chick-fil-A locations on the distribution of mall visits throughout the week.
Despite its relatively small size, Chick-fil-A draws substantial traffic to malls. And after adding Chick-fil-A locations, both Northridge and Miller Hill Malls saw meaningful drops in the share of visits to the centers taking place on Sundays – even as the wider indoor mall segment saw slight upticks.
Recognizing this trend could prompt mall operators to compensate by adding more weekend-friendly traffic drivers – or to lean into this distinction by taking additional steps to bolster the mall’s role as a go-to weekday destination.
The power of different mall traffic magnets also varies throughout the day. Increasingly, shopping centers are turning to fitness centers as experiential anchors. And since many people work out early in the morning, these gyms are having a significant impact on the distribution of mall visits across dayparts.
The addition of gyms to Northshore Mall in Peabody, MA and Jackson Crossing in Jackson, MI, for instance, led to a significant rise in visits between 7:00 AM and noon. And though the rest of the stores in these malls typically open at 10:00 or 11:00 AM, this shift presents the centers with a significant opportunity.
By adjusting opening hours to accommodate these early-morning patrons, malls can capitalize on this added traffic, driving up visits and sales for relevant tenants – especially health-focused retailers such as juice bars and sporting goods stores.
Adopting a broader, visit-focused view of anchoring also allows mall operators to apply some of the strategies typically reserved for anchors to non-conventional traffic-generating businesses, to ensure a consistent flow of traffic year-round.
Pop-up stores and events, for example, generally don’t follow the same seasonal trends as other retailers – instead, they generate short-term visit boosts during their runs, whenever in the year that may be. And a visit-focused anchor strategy can leverage some of the perks traditionally reserved for anchor tenants – such as preferential leasing terms – to complement traditional full-time anchors during slower retail periods.
The Barbie Dreamhouse Living Truck Tour is a prime example of a traffic-driving pop-up. By bringing exclusive merchandise to malls across the U.S., the truck generates plenty of buzz, drawing crowds eager to snatch up limited-edition items and immerse themselves in all things Barbie. As a result, malls hosting the tour often see significant visit spikes, with foot traffic surging well above typical Saturday levels. Well-timed pop-ups like these can help balance out traffic throughout the year, offsetting traditional slow periods.
A visit-focused approach to anchor management can also help mall operators assess the potential impact of new tenants on existing stores operating in similar categories. For example, mall owners often worry that new tenants operating in similar categories might cannibalize existing businesses. But a visit-focused anchor approach reveals that a well-chosen addition can sometimes benefit current tenants – especially if they cater to similar audiences.
In February 2020, for instance, value supermarket Aldi opened at Green Acres Commons in Valley Stream, NY – a center that already hosted budget-friendly BJ’s Wholesale Club. While BJ’s visits were relatively flat in 2018 and 2019, they began to rise after Aldi’s opening (and following a pandemic-induced dip). Cross-shopping data also shows that Aldi customers were more likely to visit BJ’s than the average Green Acres patron last year.
This synergy may be due in part to the two retailers’ similar visitor bases: In 2024, the Aldi and BJ’s stores in Green Acres Common drew shoppers with comparable economic profiles. This suggests that overlapping audiences can become a strength if aligned brands attract new shoppers, who then explore multiple stores in the same center.
Looking ahead, effective mall anchors will be defined less by physical footprint and more by their capacity to maintain consistent, valuable foot traffic. While traditional department stores remain pivotal, smaller or niche brands can often rival – or surpass – large-format retailers. And by thinking out of the anchor box and choosing tenants that cultivate a balanced visitor flow and align with local preferences, operators can position their centers as true go-to destinations.
