The retail real estate industry is constantly changing, fueled by the significant changes the world markets continue to undergo during the COVID-19 pandemic. We believe some of the most important statistics you use to make decisions revolve around consumer sentiment and our team was surprised by many of the stats we dug up.
Catch a round-up of the most significant ones our team found while researching below:
- Three in five (63%) of Americans will do most of the shopping in person a year from now, compared with (37%) who said online. (source: The Harris Poll)
2. 76% of adults have already or soon plan to start thinking about shopping for the upcoming holiday season because of inventory and shipping concerns (source: ICSC)
- The Delta variant could stymie traffic to malls and department stores - as less than half (43%) of shoppers go to those locations. But that’s up from (32%) in March. (source: The Harris Poll)
28% of adults believe the economy is better now (Aug. 2021) than it was a month ago (source: ICSC)
- Nearly half of Americans (47%) say they are much or somewhat more sensitive to prices because of the pandemic. (source: The Harris Poll)
- Despite a health catastrophe and one of the worst economic downturns in modern history, startup business activity grew in the United States last year—business startups including small businesses grew from 3.5 million in 2019 to 4.4 million in 2020, a 24% increase. Fun fact – Resquared is one of them! (source: US Census)
- 40% of adults believe the economy will improve in the next 12 months (source: ICSC)
- Competitive salary (61%) is the top deciding factor to work at a company - except for Gen Z, among whom only (30%) say competitive salary would be a deciding factor. Instead, Gen Z values flexibility over money: (40%) want flexible working hours and (36%) the ability to work from home. (Source: Deloitte)
- 66% of adults agree businesses should be open in their state (source: ICSC)
- The top 3 measures retailers can implement to make shoppers feel more comfortable shopping in-store include frequent sterilization of store premises, curbside pickup, and requiring associates to wear masks (source: Power Reviews)
- 54% of Americans are dining indoors at a restaurant bar or other eating space (source: ICSC)
- 60% of Americans plan to immediately go back to a mostly normal (pre-pandemic) way of life once the current COVID-19 surge subsides (source: ICSC)
Were there any stats in the list that blew you away?! Our team loves to be nerdy when it comes to consumer stats, sign-up for a demo below and be sure to mention your favorite on the call!