A blizzard is more than inconvenient. It costs governments and businesses series amounts of money. When the streets are covered in snow, shoppers stay home, as did those in the Northeast on Sunday and Monday. In fact, according to recent estimates, the Northeast blizzard cost retainers $1 billion, according to ShopperTrak, a company providing shopper-traffic counting technology and data analysis. ShopperTrak found that Dec. 26 foot traffic was 11.2% off from what they had forecasted, CNN Money reports.
"As expected, the 2010 blizzard throughout the Northeast halted nearly all retail visits and spending during a period that is fairly crucial for retailers," ShopperTrak founder Bill Martin said in a statement, the Boston Herald reports. Martin added that according to their analysis, Northeast malls and stores dropped over 6% from last year on the day after Christmas, as well as almost 43% on Monday, when potential shoppers were virtually snowed in.