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Satellite imagery indicates boom in shopping

US: Data from Thomson Reuters and Remote Sensing Metrics shows that the holiday shopping season in the US  is in full swing. US shopping malls had a 42.3 percent fill rate on November 20. That’s up from 36.5 percent on the third Saturday of November last year and 30.6 percent reading in 2008.

The report, which uses high-resolution satellite imagery to analyse vehicle traffic, has shown a steady pickup since the beginning of the month. On November 6, for instance, malls were 38 percent full, up dramatically from 22.8 percent reading a year earlier.

The Thomson Reuters data echo estimates from the National Retail Federation, which said that nearly 60 million Americans plan to hit the stores over the weekend, while an additional 78 million might join the crowds of shoppers. The total number of possible shoppers is 4 million more than last year’s forecast.

The Thomson Reuters analysis was based on more than 500 satellite observations of car counts from Remote Sensing Metrics.

Source: Reuters