
As promised, today GM presents his compiled numbers for his survey of Georgetown. In the course of cleaning up the data, he revised (yet again) some of the preliminary numbers he shared earlier this week. So without further ado, the results:
Well, sorry, some more ado. GM would like to insert his normal caveats here. First, it’s important to know that it’s more of an art than a science. The term “shop” as used here refers to just about all commercial establishments: retail stores, restaurants, salons, gyms, etc. GM doesn’t count pure office space. The rule of thumb GM uses is if you can walk in without an appointment, it’s a shop. But again, sometimes it’s a close call (for instance, he counts realtors but not lawyers). ¯\_(ツ)_/¯.
Overall Picture
GM counted 451 shops this year. That is a sharp drop from the historic numbers. It was 509 when GM counted in 2019 right before Covid. It hasn’t been below 500 since GM counted 498 in 2016. The last time GM counted so few shops was back in 2010 when he counted 443, but that was one of the first couple years GM did the survey and was missing a ton of shops from his count.
There’s always a bit of an error rate. GM missing some shops that opened or closed each time he goes out (sometimes is genuinely hard to tell whether a business is still in business or not!) But that would only account for a handful of shops in either direction. The drop from 2019 to 2022 was 58, or over 11%. This was a genuinely sharp decline.
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