Thanks for Visiting!

Register for free to get the full story.

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

Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?

Retail trends continue to adapt to rising prices. We take a closer look at several superstores, including Walmart and Target, to see how their foot traffic has been affected by inflation.

By 
Shira Petrack
May 11, 2023
Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?
SHARE
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
Key Takeaways

Retail giants such as Walmart, Target, and Costco saw their traffic surge over the pandemic, as mission-driven shoppers gravitated to these one-stop-shops. And the strength continued in 2022, with inflation driving budget-conscious consumers to superstores and wholesalers. 

Now, although the economic headwinds appear to be holding back superstores and wholesalers traffic growth – the quality of visits may be improving even as the number of visits falls. To better understand the shift, we dove into the location analytics data to see what traffic patterns reveal about the state of superstore and wholesaler consumer behavior in 2023.

Traffic Dips Relative to 2022

Traffic to most superstore and wholesale chains was strong in 2022, with visits up relative to 2021. But now the growth seems to be stalling, with year-over-year (YoY) monthly visits in early 2023 down almost across the board. The one exception is Target, which saw a slight increase in both visits and visits per venue in Q1 2023 – perhaps thanks to its new larger-format stores which allow each venue to serve more customers. 

Impact of Seasonality 

Some of the visit dip of the recent months could be due to an exaggeration of regular seasonal trends. Superstore and wholesaler traffic tends to follow a cyclical pattern, with visits peaking around the holiday season before bottoming out at the beginning of each year. And in Q1 2023, traffic may have dipped slightly lower than usual as consumers tightened their belts in the face of the ongoing economic headwinds. 

But a couple of months of weaker visit data during a typically slower period is not enough to draw conclusions regarding the health of the wider superstore and wholesale space. 

Visit Numbers Don’t Capture the Full Story 

Visit numbers show the quantity of visits going to the superstore and wholesale sector, but they don’t reveal too much regarding the quality of the visits. To complete the picture, analyzing other location intelligence metrics such as visit length and cross-shopping shares can provide a more holistic understanding of current consumer behavior in the space. 

Diving into the visit quality metrics shows that median dwell time at leading superstores and wholesalers rose across the board between Q1 2022 and Q1 2023. Walmart saw the biggest increase, followed by Sam’s Club and Costco. The increase in median dwell time indicates that – although consumers may be visiting these chains less frequently – they seem to be doing more with each visit by filling larger carts and drawing out the time between each visit to save on gas costs. 

Cross-Shopping Trends Indicate Consumers Looking to Fill Larger Carts

Recent cross-shopping trends offer another indication that visit quality is improving even as quantity decreases. Between Q1 2022 and Q1 2023, the share of Target and Walmart consumers who visited superstores also increased across the board – which could mean that consumers are looking for ways to stretch their budgets by consolidating shopping trips and buying essentials in bulk.

The increase in cross-shopping from superstores to wholesalers combined with the rise in median dwell time indicates that consumers are still finding significant value in the superstore and wholesale space – despite the overall drop in visits. And even the traffic dip itself may be more a reflection of normal seasonal fluctuations than of waning consumer interest. 

As the economic headwinds continue taking a toll on consumer confidence, superstores and wholesalers are likely to maintain their advantage as one-stop-shops that help visitors stock up essentials while consolidating trips and saving on gas costs. 

For more data-driven retail insights, visit placer.ai/blog

Learn how downtown regions across US cities are measuring up with our free tools.
Check out the latest trends for
No items found.
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
SHARE
Get 3 brand & industry
breakdowns every week
Subscribe to the newsletter
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.

Recent Publications

Get 3 brand & industry breakdowns every week

Subscribe to the newsletter
Text Link
Superstores
Text Link
Walmart
Text Link
Target
Looking Ahead to the 2024 Holiday Season
Trader Joe's: Continuing to Thrive in 2024
Bowlero and AMF: A Ten-Pin Knockout
Recreational Retail: Store Performance in 2024
Placer.ai White Paper Recap – September 2024
A QSR and Fast-Casual Face-Off
Sam’s Club’s In-Store Retail Media Network Opportunity
The Rising Stars: Six Metro Areas Welcoming Young Professionals
Costco in 2024: A Deep Dive
Sherwin-Williams in 2024: Brighter Than a New Lick of Paint
Life Time and Orangetheory: Premium Fitness Flourishing
C-Stores: More Than A Pit Stop
Darden: Dining Dominance Undeterred 
Placer 100 Index for Retail and Dining: August 2024 Recap
Placer.ai Office Index: August 2024 Recap
Placer.ai Mall Index: August 2024 Recap – Back-To-School In Full Swing
Auto Parts Retailers: The Traffic Continues
Pumpkin Spice Works its Magic Once Again
School Season Sparks Retail Growth
Placer.ai White Paper Recap – July & August 2024
Big Lots’ Big Rightsizing Move in Four Data Points
Fun Away From The Sun: Checking in With Eatertainment
Domestic Migration and Population Growth: Strong Currents Off The Carolina Coast
The Civic Impact of Summer Events
Retail Trends in College Towns: A Back-to-School Snapshot
Five Below and Ollie’s Bargain Outlet: Consumers Still on the Hunt for Discounts
Macy’s & Bloomingdale’s: Into 2024 and Beyond
Limited Time Only: The Trend Continues
Beauty in 2024: Many Ways to Win
Dollar General & Dollar Tree: Powering Ahead in Q2 2024
The Home Depot and Lowe's Foot Traffic Remodel in Q2 2024
Superstore Update: Summer Savings Spree
Placer.ai Mall Index: July 2024 Recap – From Fourth of July to Back-to-School
Placer.ai Office Index: July 2024 Recap
Summer Movie Madness: Blockbuster Films Boost Foot Traffic
Driving Success: Toyota in 2024
Denny’s and IHOP: An All-Day Breakfast Matchup
Warby Parker: Seeing Clearly Now
Planet Fitness at the 2024 Halfway Point
Serving Summer 2024: RBI and Yum! Brands Q2 Foot Traffic
Starbucks, Dutch Bros., Dunkin’: Finding Summer Success
Fast Food and Fast Casual Favorites, Plus CosMc’s Takeoff
Chipotle and Sweetgreen: Fast-Casual in Q2 2024
First Watch, Texas Roadhouse, and Applebee’s: An FSR Roundup
Albertsons Companies: H1 2024 Recap
Teaming Up For Success: Sports Stadium Sponsorships
Limited Time Offers: Price Wars Boost Visits
Placer 100 Index for Retail & Dining: June 2024 Recap
Placer.ai Mall Index: June 2024 Recap
Placer.ai Office Index: June 2024 Recap
Inside Out 2: The New Blockbuster Bringing Crowds Back to Theaters
Petco and PetSmart: A Head to Head
Frozen Delights: Exploring Ice Cream Chains Across America
Placer.ai White Paper Recap – June 2024
Barnes & Noble: Writing a New Story
Small Format Stores - Sprouting, Blooming, and Expanding
Retail and Dining on Father’s Day
Thrift Store Visit Scores
Charting Value Grocery’s Visit Growth
Placer 100 Index for Retail & Dining: Introduction and May 2024 Recap
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024
Placer.ai Mall Index: May 2024 Recap – Mall Visits on the Rebound
Placer.ai Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In
Placer.ai Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth
Placer.ai Mall Index: March 2024 Recap – Malls Rise Again
Placer.ai Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!