Walmart, Costco and Target experienced a surge in store visits in the Northeast and Midwest during the first half of the year, even as high inflation roiled the economy.
Notably, Target recorded the greatest yearly growth in visitor traffic in that time, boasting a 5.9% rise in the Northeast and a 3.1% increase nationwide, according to data from traffic analytics firm Placer.ai, though Costco has been a top performer since May.
Walmart experienced a 3.4% annual rise in visits in those six months within the Northeast, while Costco was at 4.8%. In the Midwest, the increases were more modest, with 0.6% for Walmart, 4.2% for Costco and 3.3% for Target.
In the West, however, foot traffic for both Walmart and Costco fell this year from last year, and Walmart even saw a 2.9% decline in the South during the same time.
The stronger growth in foot traffic in the Northeast and Midwest can be attributed to their comparatively lower year-over-year consumer price increases and moderate inflation rates. This upward trend could signal a potential opportunity for further expansion initiatives in these regions, Placer.ai said.