The reality of the pandemic’s “second wave” has thrown everyday Americans, economists, and business owners alike for a loop. Figures that were once projected and planned for no longer make sense.
Take in-store foot traffic trends, for example. In June, the data experts from Zenreach, the walk-through marketing company, utilized a 100% data-driven model. Their forecasted percentage of normalization to determine when our nation’s businesses (retail, restaurants and bars, spas, event venues, etc.) would see normal traffic patterns again projected date was September 9, 2020.
Because traffic has significantly declined in recent weeks, we see a reverse effect on the return to normal, with no intersection in 2020. As of July 31, the forecast should reach 55% of normal by the end of the year.
Take a look at the graphs below.
June 2020 Forecasted Return to Normal
Similarly, there is no projection computed for states like Texas, Florida, and Georgia, where Coronavirus cases have spiked. In contrast, others like New York, Illinois, and Washington, who have taken a more cautious approach to the virus, may reach closer to normal levels by December.