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One aspect where cities are undeniably succeeding: 👉 Investing in parades, festivals, and other special events that draw crowds to their downtown shopping areas. While for malls, Black Friday is the busiest day of the year by far, visits to bustling downtowns appear to be propelled more by people seeking fun experiences than by holiday deal-hunters. Despite #retail vacancies and a 30.7% drop Yo4Y in Q3 2023 foot traffic on the Magnificent Mile, Chicago reversed the trend with an 8.3% YoY increase. Strategic special events played a crucial role in this turnaround. For instance, the St. Patrick's Day Parade, featuring the iconic green-dyed Chicago River, attracted 128.7% more visitors than the average day in the past year to North Michigan Avenue on March 11th, 2023, marking the busiest day in the past year. For the full #analysis into retail corridors ahead of the 2023 #holidayseason, check out the link provided in the comments below.

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