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Below is a brief excerpt from a complimentary research note written by our Consumables analysts Howard Penney and Daniel Biolsi. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more. |
According to Kastle Systems, its 10 cities' average occupancy rate for office buildings fell to 32.1% for the week ended Aug. 11, down 80bps from the prior week, as seen in the chart below.
Kastle’s occupancy barometer reflects access swipes to the office; it provides control systems. Kastle has customers in more than 2,600 buildings in 138 cities.
The largest drops in the last week were in Houston, Dallas, and Washington D.C. The Philadelphia area was the only one to see an increase in the most recent week, as seen below.
Office occupancy varies by region, with the largest Texas cities recently falling below 50% and the largest California cities below 30%.
The return to the office will determine how permanent the food consumption shift is from on-premise to off-premise.
Many companies have delayed plans to return to the office with the Delta variant. The return so far has been at a modest pace.
The headwind for grocers is lessened currently, but it will stretch at least into late 2022.
