“Get in losers, we’re going shopping.”
That’s a reference from the movie “Mean Girls” in case you were wondering. Retail experts have long said that U.S. malls are dying out. But a recent market analysis paints a different picture.
According to a report from Coresight Research published in June, foot-traffic in top-tier malls was up 12 percent in 2022 compared to before the pandemic. Last year, these same malls had more than 95 percent occupancy rates.
Younger shoppers are in part driving this resurgence. Approximately 73 percent of Gen-Z shoppers said they visited a mall in the past month.That’s compared to 65 percent of Millennialsaccording to the International Council for Shopping Centers.
Why are malls making a comeback now? And as our shopping habits go increasingly online, how are they keeping up?We get into this and more.
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