GITNUX MARKETDATA REPORT 2024

Must-Know Mall Traffic Statistics [Recent Analysis]

With sources from: reuters.com, statista.com, us.jll.com, bloomberg.com and many more

In this post, we present a compilation of key statistics highlighting the trends and changes in mall traffic patterns across the United States. From significant declines in foot traffic to shifts in consumer behavior, these statistics provide valuable insights into the evolving landscape of retail shopping in malls. Let’s dive into the numbers and uncover the realities shaping the mall industry today.

Statistic 1

"In 2021, in-mall store traffic was down 28.3% compared to 2019 levels."

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Statistic 2

"As of June 2021, mall foot traffic increased by 86% compared to the same period in 2020."

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Statistic 3

"In 2018, the average mall shopper visited a mall 3.1 times per month, spending an average of 80 minutes at each visit."

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Statistic 4

"Mall traffic in the US reduced by an estimated 52% between 2010 and 2013."

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Statistic 5

"In 2017, the top 10% of best-performing malls attracted 72% of total mall visits in the US."

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Statistic 6

"Apparel stores in malls experienced a foot traffic decline of 24.6% between March 1, 2020 and March 31, 2020."

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Statistic 7

"In June 2021, the number of visits to enclosed malls in the US was up 200% compared to the same month in 2020."

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Statistic 8

"Malls with a higher proportion of non-retail tenants (restaurants, gyms, experience-oriented businesses) tend to have higher total foot traffic."

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Statistic 9

"Black Friday foot traffic decreased by 50% in 2020 compared to 2019."

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Statistic 10

"The average conversion rate for malls in the US is 22%; meaning only 22% of mall visitors make a purchase."

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Statistic 11

"In 2017, top-performing malls generated sales of over $1,000 per square foot."

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Statistic 12

"The total number of enclosed malls in the US has decreased by more than 300 malls since 2006."

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Statistic 13

"In 2020, 70% of Generation Z consumers visited a mall at least once per month, down from 79% in 2019."

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Statistic 14

"In 2021, mall vacancy rates reached 11.4%, the highest level since at least 2011."

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Statistic 15

"In 2018, the average annual sales per square foot for mall-based retail chains in the US was $325."

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Statistic 16

"In 2016, the average distance a consumer would travel to visit a mall was 8.7 miles."

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Statistic 17

"In 2020, Simon Property Group, the largest mall owner in the US, saw a 25% decline in overall foot traffic compared to 2019."

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Statistic 18

"According to a 2021 Placer.ai study, weekday traffic made up 52% of total mall traffic, while weekend traffic accounted for 48%."

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Interpretation

Overall, the statistics presented reflect the dynamic and evolving landscape of mall traffic in the US over recent years. The data highlights both challenges and opportunities within the industry, with shifts in consumer behavior, economic trends, and the rise of non-retail tenants impacting foot traffic and overall performance. Key insights include fluctuations in foot traffic due to external factors such as Black Friday sales, the importance of diverse tenant mixes for attracting visitors, and the varying performance levels among different mall categories. As mall operators continue to adapt to changing consumer preferences and market conditions, understanding and leveraging these statistics will be crucial for driving future success in the retail landscape.

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