Crexi: How Population Growth is Impacting Retail in Boise
Recently, Crexi released a report on six growing US cities including Boise, ID. According to Crexi, Ada County grew by a “whopping” 10.3%, which is the highest growth of the cities on the list. The other cities in the report are Phoenix, AZ, Fort Meyers, FL, Denver, CO, Las Vegas, NV, and Austin, TX.
The report highlights the factors contributing to Boise’s growth, such as desirable climate, access to nature, and the region’s family-friendly lifestyle. These are just a few of the many reasons Boise has landed on many “Top 10” lists over the last decade.
The Covid-19 Pandemic has only accelerated growth in the Boise Area over the last couple years.
The Retail Impact of Boise’s Population Growth Population increase is also generating demand for retail services in Boise. As an example, electronics stores in the city and its metro area enjoyed higher foot traffic recovery rates compared to the national average between March 2022 and August 2022, surpassing Idaho’s Yo3Y foot traffic recovery levels in most months as well.
The increase in visits is likely driven, at least in part, by migration. This means that retailers who understand how the recent migration wave is impacting local consumer habits and cater to the preferences of new Boiseans may be able to gain a leg up over the competition.
(Crexi.com “How Population Growth is Impacting Retail in 6 US Cities”)
Photo: Brett Wharton / Unsplash
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