Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Checking In On The Office Recovery - May 2022 Update

by 
Bracha Arnold
 on 
June 8, 2022
Checking In On The Office Recovery - May 2022 Update

About the Office Building Indexes: These indexes analyze foot traffic data from nearly 200 office buildings (53 in San Francisco, 72 in Manhattan, and 70 in Chicago). They only include commercial office buildings and commercial office buildings on the first floor (like an office building that might include a national coffee chain on the ground floor). They do NOT include mixed-use buildings that are both residential and commercial.

Office Recovery – May 2021 to May 2022

Even as pandemic restrictions continue to ease, the prevailing culture around coming into the office seems to have changed for good. In a recent article, 65% of workers said they would not return to full-time in-office work, and companies are adjusting their expectations accordingly, allowing for a more hybrid work model. 

A look at our most recent foot traffic data confirms these trends. Visits to office buildings in San Francisco, New York City, and Chicago are still significantly lower than they were three years ago. But while visit gaps have narrowed as we continue to move further into the “post pandemic” environment, the workplace recovery has not been consistent across cities. In May 2022, year-over-three year visits to office buildings in San Francisco were down by -67.8%, while the office foot traffic gap in New York and Chicago stood at a less dramatic 40.6% and 45.7%, respectively. 

Diving into each individual city’s data tells a story about the city itself. Like many major cities, San Francisco experienced a decrease in its population over the past few years, and this may be impacting a slower office recovery. Meanwhile, foot traffic to New York and Chicago office buildings seems to be slowly but surely bouncing back – and major companies are betting that offices in the city will continue their comeback. Google and Facebook just snatched up more office space in NYC, while in Chicago, Google is ready to finalize a massive office expansion project. 

Year over Year Continuing to Improve

While office foot traffic is still lower than it was three years ago, year-over-year (YoY) trends are strong, with May 2022 office visits to San Francisco, New York City, and Chicago up by 90.6%, 65.7%, and 57.6%, respectively. This shows that while the traditional, 9-to-5, five days a week office model may not be returning in the near future, workers haven’t fully abandoned office life. Businesses are also investing in bringing their employees back to their desks – many companies are offering incentives for workers who come into the office a few times a week. And managers are not the only ones in favor of (at least partial) office attendance. Younger workers, in particular, see the value of being able to collaborate with their coworkers, get face time with higher-ups, and learn and onboard in the tried-and-true ways. 

YoY data also highlights the correlation between office foot traffic patterns and overall COVID spikes. January and February 2022 saw overall lower traffic than November and December 2021, which is in line with the Omicron spike that hammered the country earlier this year. And in 2021, YoY office visits fell in September and October, around the time of the Delta surge. 

Month-over-Month Visits are Trending Up

Month-over-month (MoM) office traffic indicates that, despite the persistent Yo3Y gaps, office occupancy is trending up. In San Francisco, New York, and Chicago, MoM office foot traffic was up seven, eight, and ten out of the past 13 months, respectively. 

Although January 2022 did see a significant decrease in office visits – likely due to the spread of the Omicron variant – visits jumped up again in February, an impressive feat considering the lack of business days. And MoM office traffic in New York and Chicago was up again in April 2022, despite the month having less days than March and even though holidays may have kept office visits artificially low. So, while the popularity of hybrid work may be preventing office buildings from reaching their full pre-pandemic occupancy rates, foot traffic data indicates that a partial return to the office is definitely underway.

With many major companies continuing to offer work from home options for the near future, it may be quite a few years before visits catch up to pre-pandemic levels. However, as COVID concerns continue to wane, a ‘new office normal’ may soon find its equilibrium.

For more data-driven insights, visit placer.ai.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024?
Placer.ai White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy
Placer.ai Mall Index: February 2024
Placer.ai Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024: Placer.ai’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains
Placer.ai Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance
Placer.ai White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top
Placer.ai and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap
Placer.ai Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season
Placer.ai White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season
Placer.ai Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success
Placer.ai White Paper Recap – November 2023
Thanksgiving Travel 2023 Recap
Checking in With Nike and Lululemon
Black Friday 2023 Retail Recap
Starbucks’ 2023 Holiday Menu & Red Cup Day Performance
Turkey Wednesday 2023
Who Attended the 2023 Pickleball Championship? 
Three Surprising Holiday Shopping Trends
What’s in Store for Ulta Beauty This Holiday Season?
Best Buy and Department Stores: A Holiday Deep Dive
Discount & Dollar Stores: Strength Toward The End of the Year
The State of Off-Price Retail: Discounts Seal The Deal
Placer Mall Index Recap: October 2023
Placer.ai Office Index: October 2023 Recap
Retail Corridors Ahead of the 2023 Holiday Season
California, Here Gap Comes
Checking in With Home Improvement
Getting Into the Glasses Game: Warby Parker Takes Over
Fitness Positioned for a Strong 2023 Finish
White Paper Recap: October 2023
Coffee Giants Brewing Up Business
Popeyes and Burger King Lead the Way
Diving into Yum!
Looking Ahead to Black Friday 2023
Blockbusters Drive Movie Theater Comeback
Crocs and Boot Barn: Shoe-Ins for Success
McDonald’s and Chipotle's Winning Recipe
The State Of Steak: Checking in With Texas Roadhouse
Pleasant Pastimes: Pickleball Potential Proves Potent
Who’s Driving Downtown Manhattan’s Weekend Revival?
Diving into Downtown Manhattan Foot Traffic Trends
Rite Aid: Rightsizing Right
Major League Soccer: Its Die-Hard and Casual Fans
The Anchor Recap: September 2023
Placer.ai Office Index: September 2023 Recap