Key days such as Cinco de Mayo, the Kentucky Derby, and even sporting events such as the Formula 1 Miami Grand Prix have driven velocity uplifts across key cities and states across the U.S., according to CGA.
On Thursday May 5, Cinco De Mayo provided a 19% increase versus the average Thursday in the year to date. Texas saw increases of 30% versus the average Thursday YTD, driven largely by traffic which was up +24% while California experienced an uplift of +17%, with traffic up by +12%.
The Kentucky Derby on Saturday, May 7, had a positive impact on both the state of Kentucky and its host city of Louisville. Kentucky saw trends of +16% versus the average Saturday in the year to date, driven by check value increase of +18%. While in Louisville, check value increases of +34% lead to a velocity uplift of +23% on the day. Over in Miami, the most recent weekend saw the first Formula 1 Miami Grand Prix take place, with the city experiencing a double-digit uplift across Thursday, Friday and Saturday versus average, with both traffic and check value positive.
For the entire U.S. after a slight decline in the week to April 30 (-1%), velocity in the latest week improves as both check value (+2%) and traffic (+1%) drive growth of +3% to May 7.
All key states remain positive vs 2021, resulting in trends of +18% for the US vs last year. States which still had COVID-19 restrictions in place last year are currently performing strongly in comparison. In New York velocity is up +39%, with Illinois up +32% and California up +23% vs 2021.
Meanwhile the states that had little to no restrictions in 2021 growth is slower but still slightly positive (Florida +2%, Texas +4%) vs 2021