Retail Foot Traffic Falls Amid Spike in Gas Prices, Report Shows

The sudden surge in the price of gas in the United States, up an average of more than 70 cents a gallon from a month ago, has had an adverse impact on retail foot traffic, Placer.ai reports.

Overall visits to physical retailers dropped by 4.3% during the week of March 7, 2022, compared to the equivalent week in 2019, the company found. That is the steepest drop in weekly retail foot traffic over the past 12 months that can't be attributed to the coronavirus pandemic or holiday shopping patterns.

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