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1、June 20232023s Top RegionalRetail HubsDiscover four metro areas where retail is thriving despite thewider macroeconomic challenges and find out the uniquefactors driving success in each region.Table of ContentsTable of Contents2Retail is Rallying31.New York,NY:Resurgence of Retail Visits with the Re

2、turn to Office42.San Jose,CA:Upscale and Luxury Retailers Attract the Right Customers83.New Haven,Bridgeport,and Hartford,Connecticut:New Residents Lead to Surgesin Home Improvement Retail114.Washington,D.C.:DTC Brands and Retailers Seizing Opportunities to Captivate aYounger Audience15Final Thought

3、s18Key Takeaways18Retail is RallyingThe retail segment has experienced a dramatic few years.Visits to stores spiked in thesecond half of 2021 as shoppers engaged in revenge shopping but the rally wasshort-lived as the Omicron wave of early 2022 followed by record gas prices andsubsequent inflation h

4、ampered the burgeoning recovery.Still,consumer demand forin-person shopping remains strong although foot traffic data indicates thatbrick-and-mortar retail performance in 2023 exhibits significant regional variations.This white paper takes a closer look at four regions that exhibited strongyear-over

5、-year(YoY)retail growth between January and May 2023 to see whatsdriving their recovery.We analyzed three CBSAs(core-based statistical areas)NewYork-Newark-Jersey City,NY-NJ-PA;San Jose-Sunnyvale-Santa Clara,CA;andWashington-Arlington-Alexandria,D.C.-VA-MD-WV as well as one region consisting of 2023

6、 Placer Labs,Inc.|More insights at placer.ai|2three additional CBSAs(the New Haven-Milford,Bridgeport-Stamford-Norwalk,andHartford-West Hartford-East Hartford CBSA).The analysis leverages locationintelligence to explore what the office recovery means for local businesses,wherevalue-priced chains are