GITNUX MARKETDATA REPORT 2024

US Shopping Mall Statistics And Trends in 2024

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The US shopping mall industry has undergone significant changes recently. Between 2010 and 2019, retail space in malls grew by 11.6%, but department stores, occupying 30% of this space, saw apparel sales halve. In 2020, total shopping center sales dropped to $385.7 billion from $495.3 billion, accompanied by 9,300 store closures nationwide.

As of 2021, the US has around 1,000 malls with 7.7 square feet per capita. Of these, 24% are high-performing, but 46% had vacant anchors and a 52% decrease in foot traffic. Simon Property Group, owning over 200 properties including the 400k square-foot Mall of America, faces potential closures of half their department store tenants by the end of 2021. These trends are crucial to understanding the future of American shopping and retail as we head into 2022 and beyond.

US Shopping Mall Statistics Overview

In 2020, mall square foot sales were $325, down from $373 in 2019.

This statistic is a telling indication of the impact of the pandemic on the shopping mall industry. It shows that despite the efforts of many malls to remain open and offer services, the overall sales have decreased significantly from the previous year. This is a clear sign that the pandemic has had a major effect on the shopping mall industry, and it is important to consider this statistic when discussing the overall state of the industry.

As of 2020, 24% of malls were considered high-performance malls.

This statistic is a crucial indicator of the current state of the US shopping mall industry. It reveals that a significant portion of malls are performing well, despite the challenges posed by the pandemic. This statistic is important for understanding the overall health of the industry and provides insight into the strategies that are working for malls across the country.

In 2019, US mall vacancies reached a 20-year high of 9.3%.

This statistic is a stark reminder of the changing landscape of US shopping malls. It highlights the fact that, despite the continued popularity of online shopping, physical stores are still struggling to keep up with the times. This statistic serves as a warning to mall owners and shoppers alike that the traditional shopping mall experience may soon become a thing of the past.

Simon Property Group is the largest mall operator in the US, with 200+ properties.

The fact that Simon Property Group is the largest mall operator in the US is a testament to the strength of the US shopping mall industry. With over 200 properties, it is clear that the US shopping mall sector is thriving and continues to be a major player in the retail landscape. This statistic is a reminder of the importance of shopping malls in the US and the potential for growth in the sector.

In 2019, 9,300 stores in malls closed across the United States.

This statistic is a stark reminder of the changing landscape of shopping malls in the United States. It highlights the fact that the traditional shopping mall model is no longer as viable as it once was, and that retailers are having to adapt to the changing consumer habits. This statistic is an important indicator of the current state of the US shopping mall industry, and is essential for understanding the current trends and challenges facing the sector.

50% of mall-based department stores could close by the end of 2021.

This statistic is a stark reminder of the impact the pandemic has had on the retail industry. With 50% of mall-based department stores potentially closing by the end of 2021, it is clear that the US shopping mall landscape is undergoing a dramatic transformation. This statistic is a wake-up call for those in the retail industry to take action and adapt to the changing environment.

In 2020, US mall foot traffic decreased by 52.3%.

This statistic is a stark reminder of the impact the pandemic has had on US shopping malls. It highlights the dramatic decrease in foot traffic that malls have experienced in 2020, demonstrating the need for malls to adapt to the changing landscape of consumer behavior.

The Mall of America in Minnesota is the largest shopping mall in the United States.

This statistic is significant in the context of a blog post about US Shopping Mall Statistics because it highlights the sheer size and scope of the Mall of America. It serves as a reminder of the immense popularity of shopping malls in the US, and the fact that the Mall of America is the largest of them all speaks volumes about the success of the shopping mall industry in the country.

From 2010 to 2019, retail space in US shopping malls increased by approximately 11.6%.

This statistic is indicative of the growth of the US shopping mall industry over the past decade. It shows that despite the rise of online shopping, retail space in US shopping malls has still seen a steady increase, suggesting that the industry is still thriving. This is an important statistic to consider when discussing US shopping mall statistics, as it provides insight into the current state of the industry.

Walmart is the largest tenant of U.S. shopping malls and shopping centers, followed by CVS and Walgreens.

This statistic is significant in the context of US Shopping Mall Statistics because it highlights the immense influence that Walmart has on the shopping mall industry. It demonstrates that Walmart is a major player in the sector, and that CVS and Walgreens are also important tenants. This information can be used to inform decisions about the future of shopping malls and shopping centers, and to understand the current state of the industry.

In 2020, department stores accounted for about 30% of shopping center space.

This statistic is a telling indication of the importance of department stores in the shopping mall landscape. It highlights the fact that department stores are a major component of shopping centers, and that they occupy a significant amount of space. This is important information for anyone looking to gain insight into the current state of shopping malls in the US.

As of 2020, approximately 4 out of 10 Americans no longer visit shopping malls.

This statistic is a telling indication of the changing landscape of shopping in the United States. It shows that the traditional shopping mall experience is no longer the go-to for many Americans, and that other options are becoming increasingly popular. This statistic is important to consider when discussing the current state of shopping malls in the US, as it provides insight into the changing habits of shoppers.

In 2019, approximately 44% of US consumers said that they no longer visit shopping malls.

This statistic is a telling indication of the changing landscape of US shopping habits. It suggests that more and more consumers are turning away from traditional shopping malls and towards other options, such as online shopping or smaller, local stores. This shift in consumer behavior has major implications for the future of shopping malls, and is an important factor to consider when discussing US shopping mall statistics.

46% of U.S. shopping centers had anchors that were vacant in 2020.

This statistic is a stark reminder of the impact the pandemic has had on the U.S. shopping mall industry. It highlights the fact that nearly half of all shopping centers had to close their anchor stores due to the economic downturn, leaving many shoppers without access to their favorite stores. This statistic is a powerful indicator of the current state of the U.S. shopping mall industry and the challenges it faces in the coming years.

In 2020, estimated total shopping center sales were $385.7 billion, down from $495.3 billion in 2019.

This statistic is a stark reminder of the impact of the pandemic on the shopping mall industry. It highlights the significant decline in sales from 2019 to 2020, demonstrating the financial strain that the pandemic has had on the sector. This data is essential for understanding the current state of the shopping mall industry and the challenges it faces in the future.

Conclusion

The statistics presented in this blog post demonstrate the current state of US shopping malls. In 2021, there are approximately 1,000 malls across the country with an average size of 400,000 square feet and 7.7 square feet per capita. Despite having a large presence in many communities, mall sales have decreased significantly since 2019 due to store closures and reduced foot traffic caused by COVID-19 restrictions. Department stores account for 30% of total space but could close 50% by the end of 2021 as consumer preferences shift away from traditional brick-and-mortar retail locations towards online shopping options. As such, it is clear that US shopping malls must adapt their strategies if they wish to remain competitive in today’s market landscape.

References

0. – https://www.shopassociation.org

1. – https://www.simon.com

2. – https://www.businessinsider.com

3. – https://www.compass-commercial.com

4. – https://www.fortune.com

5. – https://www.cnbc.com

6. – https://www.statista.com

7. – https://www.ai-cio.com

8. – https://www.morningconsult.com

9. – https://www.cnn.com

10. – https://www.businesswire.com

11. – https://www.retailleader.com

12. – https://www.mallofamerica.com

FAQs

What is the total number of shopping malls in the United States?

As of 2021, there are approximately 1,100 shopping malls in the United States.

What is the largest shopping mall in the United States in terms of total floor area?

The largest shopping mall in the United States is Mall of America in Bloomington, Minnesota, with a total floor area of 5.6 million square feet.

What percentage of malls in the U.S. are considered 'A' (high performing) malls?

Approximately 20-30% of malls in the U.S. are considered 'A' malls, meaning they have the highest sales per square foot and attract top-quality retailers.

How much retail space is abandoned in the United States, often due to declining mall traffic?

As of 2021, over 370 million square feet of retail space is abandoned in the United States.

What is the main reason behind the decline of shopping malls in the United States?

The primary reason for the decline of shopping malls in the U.S. is the increase in e-commerce, as online shopping has become more convenient for consumers, leading to declining foot traffic and sales for traditional brick-and-mortar stores in malls.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

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