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The Road Forward

We all know that COVID–19 wreaked havoc on historic traffic patterns as people stayed close to home. As life slowly starts returning to normal, bankers must continually assess the performance of the branch network in accordance with changing traffic patterns. These trends will continue to shift in coming months as consumers and employers make important decisions about lifestyle, real estate and work–from–home policies.

The COVID–19 impact on commerce continues to vary significantly by region…

% Change in U.S. Average Daily Store Visits vs January 27 – March 2, 2020

Birmingham
Atlanta
Philadelphia
Austin
New York
DC
Los Angeles

Source: Novantas Analysis, NovaLocation, PlaceIQ
Store definition: Commercial location in PlaceIQ database, including largest players and chains. Also includes BranchScape locations. Doesn’t include boutiques/mom and pops/small chains.

…and by market type within regions

% Change in U.S. Average Daily Store Visits vs January 27 – March 2, 2020

Source: Novantas Analysis, NovaLocation, PlaceIQ | includes DMAs: Birmingham, Atlanta, Philadelphia, Austin, New York, DC, Los Angeles
DMA breakdown: Feeder-250, Hybrid-262, Work Center-21

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