I was briefly in the PATH today. and the uptick in pedestrian traffic was small but noticeable. Definitely at least 35% of normal now, and maybe as high as 40%.
I had to drop off some items at the dry cleaners to have alterations done, and I got to chat with the owner of the one I have used for the past decade. She has owned the shop for about 15 years. It is a quasi franchise, as like most in the PATH, the dry cleaning isn't actually done on site, it's all picked up in the morning and brought back in the afternoon from a central dry cleaning service provider they contract with as the storefront. She makes quite a low margin on dry cleaning, with it paying the bills only by high volume, however she said the real money maker is the alterations, specifically women's alterations, mostly because women are more willing to have clothes altered, even for small imperfections or fitting changes. The theory is their work clothes are more expensive and difficult (with a lot of time consuming shopping) to replace, so small alterations, repairs, and patches are more sensible than buying a new garment outright, and she makes a really big margin on small alterations.
Basically, she said her gross income is still only about 15 to 20% of pre-pandemic, and it's the lack of women back in the office that has done her in. She said she is at the end of the credit line now, so if there isn't a big surge in business in the immediate next few weeks she's throwing in the towel and shutting down, which is heart-breaking as she's made it so far into this mess already.
I found this interesting as the demographics of who goes back to the office will be something to monitor. Will it skew by age and by gender in one direction, and how will that impact business in the PATH? It will be a topic to follow.