Does Foot Traffic Predict Business Performance?

Can human mobility data — foot traffic data, to be precise — predict business performance? Anecdotally, it makes sense in some sectors. But does the data back it up? To find out, we dove into the foot traffic and quarterly revenue of publicly traded companies, looking across a multitude of sectors and brands.

Does Foot Traffic Predict Business Performance?

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How foot traffic correlates with revenue in 2024

We first studied the relationship between foot traffic and revenue in 2021, and found many correlations across industries. That was a great start, but the world has changed a lot over the past few years. War rages in Ukraine and Gaza. There has been persistent, high inflation and threats of a recession in the U.S. economy. After peaking in late 2023, interest rates now seem poised for cuts in 2024, portending renewed economic activity and public sector growth.

How does all of this impact the relationship between foot traffic and revenue in 2024? What industries have a clear correlation, and which ones are weaker? Download the guide to learn more.

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