SafeGraph Retail Scorecard

Every day, businesses open, close, and relocate. They sometimes change names, or get acquired by larger brands. At the same time, consumers are constantly changing the way they interact with retail businesses based on their own personal financial situation, and the larger economy.

SafeGraph retail scorecard shows how many businesses open and close each month in the US and consumer spending behavior trends.
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In such a dynamically changing world, it can be difficult to stay on top of these trends and truly understand what the retail market landscape looks like. With accurate and fresh points of interest (POI) data, data scientists can easily understand how many businesses opened in a given month, at any level of geographic granularity. Enriching each of these store locations with consumer behavior data provides the necessary context for understanding the full picture, enabling data scientists to measure how economic trends impact the retail market.

SafeGraph’s retail scorecard is updated monthly to reflect US market changes and provide insight into how consumer behavior is impacted by economic trends. Check out the latest stats and then download a sample of SafeGraph data to get started building your own retail analytics.

Retail categories with the most store openings per state

According to the National Retail Foundation, more than 8,100 new retail store locations opened across the United States in 2021. Whether a result of a new brand opening, an existing brand expanding its market footprint, or a store choosing to relocate to a new space across town, stores open each and every day.

Each month, we use the SafeGraph Places dataset to see how many retail store locations opened and any regional trends in store openings. We specifically measure NAICS codes beginning with 44 or 45 so that we isolate our findings to categories in the retail industry. From those NAICS codes, we identify the top retail category in each state that has seen the largest number of store location openings every month using the opened_on column in SafeGraph Places.

Retail categories with the most store closings per state

According to the National Retail Foundation, around 3,950 retail store locations closed in 2021. This was a significant drop in closures compared to 2020, which saw over 10,700 retail store locations close. Businesses close every day in every type of economy, but the closure rate can fluctuate due to factors like the pandemic, stimulus checks, or recession.

Each month, SafeGraph measures how many retail store locations closed using our Places dataset. To understand the state of the retail industry and how that differs regionally, we specifically look at NAICS codes that begin with 44 or 45. We identify the top retail category in each state that has seen the largest number of store location closings every month using the closed_on column in SafeGraph Places.

Retail brands with the most store openings nationwide

Store openings can be the result of many factors, such as an increase in demand for certain products or services in an area, or the success and expansion of a particular brand. For example, in times of recession consumers may choose to shop more at bargain outlets, resulting in a boom in demand for those store locations. Analyzing retail store location openings by brand can reveal interesting insights related to consumer demand and economic health.

To see which retail brands experienced the most growth in the US each month, we measure the amount of store location openings by brand each month. We then identify the five brands with the most POIs opened in the US last month, using the opened_on column in SafeGraph Places.

Retail brands with the most store closings nationwide

Store closures can occur for a variety reasons, including increased competition in a particular area, or a decrease in consumer demand for specific retail goods. As an example, during a recession consumers may choose to spend less money on luxury goods, resulting in a decrease in demand and a need for brands to close store locations that are underperforming.

To understand which retail brands contracted the most in the US each month, we measure the amount of store location closings by brand each month. We then identify the five brands with the most POIs closed in the US last month, using the closed_on column in SafeGraph Places.

Retail brands with the biggest decrease in transaction volume nationwide

Consumer behavior fluctuates throughout the year based on factors like seasonality and popular trends, but also over time as a result of the larger economy. Looking at transaction data associated to specific points of interest (POIs) helps reveal these patterns in consumer spending and how it impacts different retail brands. 

To see which retail brands see the biggest decrease in transaction volume each month in the US, we use SafeGraph Spend data to compare the number of transactions month over month at brands with NAICS starting in 44 or 45. With these insights, data scientists can attribute a retail brand’s performance to larger economic or regional trends.

Retail brands with the biggest increase in transaction volume nationwide 

Consumers often change how they interact with retail brands based on what time of year it is, what is popular among their friends and family at the moment, and also how the economy is doing. Transaction data for individual places shows how consumer spending changes over time, and also across regions. 

Every month we use SafeGraph Spend data to compare the number of transactions at POIs with NAICS starting in 44 or 45 with the previous month. Identifying the retail brands with the biggest increase in transaction volume month over month can help indicate how the economy is impacting consumer spending behavior and overall brand health.

Retail brand affinities in the US

Consumers spend money at multiple retail brands, and understanding these relationships is critical to profiling customers and building trade areas. While two stores may be competitors of each other, their customers may actually frequent different stores. These types of insights can help retailers understand how best to serve their customers and better compete in the market.

Using cross-shopping columns in SafeGraph Spend, every month we choose two competitive brands and identify the top three other brands customers shop at. We do this by counting the number of times each brand’s POIs shows any spend with a related brand, reflecting the number of POIs where a customer had spent money at that specific location and the related brand.

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