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Blog Retail Dining Civic Categories Retail Dining Civic Office Advertising Fitness Leisure Consumer Trends Exec Blogs More Categories Retail Dining Civic Office Advertising Fitness Leisure Consumer Trends Exec Blogs Resources Placer.ai HomeSign Up Free Placer.ai HomeSign Up Free WHERE DO WE GO FROM HERE? TRY PLACER FREE Gain hands on experience with the data Register SCHEDULE A DEMO Meet our advisors to learn more about Placer Schedule Now THANKS FOR VISITING! Register for free to get the full story. Sign Up Already have a Placer.ai account? Log In Already have a Placer.ai account? Log In JULY 2023 OFFICE INDEX RECAP by Lila Margalit on August 8, 2023 The Placer.ai Nationwide Office Building Index: The office building index analyzes foot traffic data from 800 office buildings across the country. It only includes commercial office buildings, and commercial office buildings on the first floor (like an office building that might include a national coffee chain on the ground floor). It does NOT include mixed-use buildings that are both residential and commercial. Return-to-office mandates continue to be the talk of the town. Earlier this month, the White House called on federal agencies to “aggressively” implement on-site work policies – and Google announced a special $99 deal for employees who choose to stay on campus to avoid their commutes. Even Zoom of all companies (ahem) jumped on the in-person bandwagon, calling workers back to the office for the first time since COVID. So with summer in full gear, we checked in with our Office Building Index. Did the signs of accelerated recovery we noted last month persist into July? And what differences can be observed between cities? TWO STEPS FORWARD, ONE STEP BACK On a nationwide level, return-to-office mandates appear to be slowly but surely moving the needle. Visits to office buildings in July 2023 were 0.8% lower than they were in June – but still higher than they’ve been during any other month since the pandemic. At the same time, July office foot traffic remained 37.0% below 2019 levels, indicating the continued strength of the hybrid model. SAN FRANCISCO IN FOR THE YEAR-OVER-YEAR WIN Regionally, Washington, D.C. continued to lead in overall office recovery, with the smallest year-over-four-year (Yo4Y) visit gap of any analyzed city – just 22.4% in July 2023. But San Francisco, where return-to-office has been particularly sluggish, saw the greatest year-over-year (YoY) jump in visits. While San Francisco office foot traffic dipped slightly in July 2023 compared to the month before, it remained higher than it’s been at any other time since COVID. Other cities too – including New York, Denver, Boston, and Chicago – saw the most office visits in July 2023 that they’ve seen since before the pandemic. LOOKING AHEAD But despite continued signs of accelerated recovery, the future still seems to be hybrid. Indeed, as if we needed additional reasons to bet on the staying power of hybrid work, WFH Research’s new study showing that fully remote work harms productivity – but that hybrid arrangements don’t – seems to be a clincher. The research, which generated plenty of media buzz, showed what we all know to be true: People communicate better in person and need human interaction to thrive. But that doesn’t mean they need to be in the office five days a week. And working from home part of the time can enhance employee satisfaction – while saving critical time and money. The study concluded that WFH, in some configuration, is here to stay. And while the recent push by many companies to get workers back to the office appears to have led to an increase in office visits, location intelligence continues to highlight the robustness of the hybrid model. For more data-driven real estate insights, visit Placer.ai. PREVIOUS NEXT GET 3 BRAND & INDUSTRY BREAKDOWNS EVERY WEEK Subscribe to the newsletter Great! Prepare your inbox for data-driven insights... Oops! Something went wrong while submitting the form. Lila Margalit View all posts OFF-PRICE: SUCCEEDING INTO SUMMER THE ANCHOR RECAP: JULY 2023 2023: HOME IMPROVEMENT AT THE HALFWAY POINT The Placer.ai Nationwide Office Building Index: The office building index analyzes foot traffic data from 800 office buildings across the country. It only includes commercial office buildings, and commercial office buildings on the first floor (like an office building that might include a national coffee chain on the ground floor). It does NOT include mixed-use buildings that are both residential and commercial. Return-to-office mandates continue to be the talk of the town. Earlier this month, the White House called on federal agencies to “aggressively” implement on-site work policies – and Google announced a special $99 deal for employees who choose to stay on campus to avoid their commutes. Even Zoom of all companies (ahem) jumped on the in-person bandwagon, calling workers back to the office for the first time since COVID. So with summer in full gear, we checked in with our Office Building Index. Did the signs of accelerated recovery we noted last month persist into July? And what differences can be observed between cities? TWO STEPS FORWARD, ONE STEP BACK On a nationwide level, return-to-office mandates appear to be slowly but surely moving the needle. Visits to office buildings in July 2023 were 0.8% lower than they were in June – but still higher than they’ve been during any other month since the pandemic. At the same time, July office foot traffic remained 37.0% below 2019 levels, indicating the continued strength of the hybrid model. SAN FRANCISCO IN FOR THE YEAR-OVER-YEAR WIN Regionally, Washington, D.C. continued to lead in overall office recovery, with the smallest year-over-four-year (Yo4Y) visit gap of any analyzed city – just 22.4% in July 2023. But San Francisco, where return-to-office has been particularly sluggish, saw the greatest year-over-year (YoY) jump in visits. While San Francisco office foot traffic dipped slightly in July 2023 compared to the month before, it remained higher than it’s been at any other time since COVID. Other cities too – including New York, Denver, Boston, and Chicago – saw the most office visits in July 2023 that they’ve seen since before the pandemic. LOOKING AHEAD But despite continued signs of accelerated recovery, the future still seems to be hybrid. Indeed, as if we needed additional reasons to bet on the staying power of hybrid work, WFH Research’s new study showing that fully remote work harms productivity – but that hybrid arrangements don’t – seems to be a clincher. The research, which generated plenty of media buzz, showed what we all know to be true: People communicate better in person and need human interaction to thrive. But that doesn’t mean they need to be in the office five days a week. And working from home part of the time can enhance employee satisfaction – while saving critical time and money. The study concluded that WFH, in some configuration, is here to stay. And while the recent push by many companies to get workers back to the office appears to have led to an increase in office visits, location intelligence continues to highlight the robustness of the hybrid model. For more data-driven real estate insights, visit Placer.ai. GET A DEMO Please enter your first name Please enter your last name Please provide a valid email Please enter your email Please enter company name THANKS FOR REACHING OUT! One of our experts will be in touch soon Try Placer.ai Free Oops! Something went wrong while submitting the form. Get Started with Placer.ai Location Analytics Free SignupGet a DemoFree ToolsAPIXtraOur DataPricingResourcesWhite PapersWebinarsGuidesSuccess StoriesBlogThe Anchor Industry Solutions Get to Know Us RetailersShopping CentersBrokerage FirmsMunicipalitiesFinanceHospitalityConsumer Packaged GoodsCustomersTrust CenterPressCareersContact UsAbout Us © 2023 Placer Labs, Inc. Terms of ServicePrivacy Policy Do not sell/share my personal data Manage Settings Text Link Office Buildings Text Link Return To Work Off-Price: Succeeding Into Summer The Anchor Recap: July 2023 Superstores Maintaining Pandemic Gains Amidst Economic Headwinds 2023: Home Improvement at the Halfway Point July 2023 Office Index Recap Placer.ai Mall Index: July 2023 Recap widget test The Taylor Swift Visit Lift Southwestern Grocery Dive July 2023 White Paper Recap: Halfway Point Review & Quarterly Index Yum! 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All Eyes on Eyewear Northwestern U.S. Grocery Dive Return of the Lunch: Salad Chains Are Thriving Retail Media Networks – Off the Beaten Track Bet Your Bottom Dollar: Discount and Dollar Stores Drive Foot Traffic Ulta & Lululemon: Discretionary Spending On The Up The Score After Q1: Sporting Goods Chains Who Uses NYC Airports: Biting Into The Big Apple’s Main Transport Hubs Off Price: Strength in The Face of Retail Challenges Visits Improve for Home Improvement Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping? Department Store Roundup: Q1 2023 Placer.ai Office Index: April 2023 Recap Placer.ai Mall Index, April 2023 – A Rebound on the Horizon? How Will Bed Bath & Beyond’s Bankruptcy Impact the Retail Space? Buffet Restaurants: Filling Up on Foot Traffic Thrift Stores: Vintage Visits Drive New Age in Apparel The Windy City: A Hub of Post-Pandemic Opportunity Diving into Dining Traffic - Q1 2023 Bring On The Joe A Dollar (or more) For Your Thoughts: Five Below and pOpshelf Dining Out With The Cheesecake Factory Retail Foot Traffic Recap – March 2023 Digging Into 2023: McDonald’s and Chipotle Update Placer.ai Office Index: March 2023 Recap How Did Key Retail Categories Perform in Q1 2023? Northeastern USA Grocery Dive Movie Theaters Storylines for 2023 Ollie's Bargain Outlet: Discounters are Evolving Leveraging Brick-and-Mortar Retail in 2023 America’s Evolving Work Patterns: A Deep-Dive into New York and Chicago Placer.ai Mall Index March 2023 Tuning Into Record Stores Five Franchises To Watch in 2023 What’s Next For Domestic Tourism? It’s Showtime! Movie Theaters in the Spotlight 5 Limited Time Offers (LTOs) Driving Restaurant Traffic Department Store Deep-Dive: Belk Regional Grocery Chains Staying Ahead of the Competition Five Chains that Rightsized for Success Unlocking the Potential of Offline Retail Media Networks Dining Out With Darden What’s in Store for Self-Storage? Nike & lululemon Update: Strong Performance Amid Expansion Plans Many Ways to Win: Midwest Grocery Deep Dive Retail, Reinvented: The Rise of the Pop-Up Shop Navigating a New Normal in Business Travel & Commutes Placer.ai Office Index: February 2023 Recap Retail Categories Staying Strong in Volatile Environment Ulta Beauty: Poised for Success into 2023 Placer.ai Mall Index February 2023: Reasons for Continued Optimism Catching Up With DICK’s & Hibbett COOKIE CHOICES By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. 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