Philly Retail is Looking Upward Despite Remaining Challenges

2023 in Review: Philadelphia retail on the upswing, but challenges remain

Following the resurgence of leasing activities and pedestrian flow in Center City after the Covid-19 pandemic’s impact in 2022, this positive trend continued to propel retailers in Philadelphia throughout the past year.

As of September, retail occupancy in the Center City District stood at 84.5%, steadily regaining ground toward the pre-pandemic 89% mark observed in 2019. By October, daily foot traffic within the core of Center City—spanning from Pine to Vine streets between the Delaware River and the Schuylkill—reached 82% of the levels seen in 2019.

Simultaneously, comparisons with 2019 figures for pedestrian levels on weekday evenings (87%) and weekends (95%) indicate a downtown rebound as a bustling hub for retail, dining, and entertainment, according to the Center City District’s report.

*Article courtesy of Philadelphia Business Journal

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