Market Watch Daily Digest, May 5: COVID-19 Impact on US Parking Industry
* Data from 500 randomly selected parking garages, 500 on-street parking zones/blocks, and 400 surface parking lots across USA.
Nationwide Year-To-Date Stats compared to 2019 same date
Commuter/Monthly Parking Activities: -12%
Off-Street Visitor/Transient Parking Activities: -42%
Off-Street Visitor/Transient Parking Revenue: -55%
On-Street Parking Activities: -46%
On-Street Parking Revenue: -39%
US Online Parking Demand Indexes - Powered by Smarking's Partner, Arrive
A contactless, digital parking experience is critical during and post COVID-19 pandemic. Online parking data may signal the market recovery faster than offline, drive-up data. Our partner, Arrive has made stats available by sampling 3500 locations in 15 top US markets, using Jan 2020 demand as the market norm baseline.
YTD US Online Parking Searches Index: -45%
YTD US Online Booking Parking Transactions Index: -49%
YTD US Online Booking Parking Revenue Index: -51%
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We hope this data has provided insight on the impact of COVID-19 in real time. We welcome your feedback and suggestions for what you'd like to see in the Market Watch Daily Digest.