Skip to main content

Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In
Article

Happy Lunar New Year Part 2: Vietnamese, Korean, and Pan-Asian Malls

By 
Caroline Wu
February 16, 2024
Happy Lunar New Year Part 2: Vietnamese, Korean, and Pan-Asian Malls
SHARE
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
The Lunar New Year provides an opportunity to dive into foot traffic to Asian-themed shopping centers to take a closer look at where revelers partook in the festivities.
Key Takeaways

There are so many ways to say Happy New Year in Asian languages, such as  “Gong Xi Fa Cai” in Mandarin, which means wishing you prosperity in the coming year, “Saehae Bok Mani Badeuseyo” in Korean, wishing you lots of luck, and “Chuc mung nam moi” in Vietnamese, with a similar meaning of wishing you a joyful year.  Along with these auspicious greetings are traditional foods such as dumpling soup, mung bean pancake, BBQ beef, sticky rice cakes, and candied fruits.  Within the melting pot that is the USA, one can often find an Asian-themed shopping center in which to partake of the festivities. In Westminster, CA, Asian Garden Mall is one of the largest Vietnamese shopping centers in the U.S. At The Source OC, Korean shops and eateries abound. In the Midwest, one can visit Asia Mall Minnesota, with a pan-Asian panoply of offerings.

Last year, Lunar New Year kicked off on Jan. 22, and we can see that Asian Garden Mall visits skyrocketed on that day (below)

During the summer, there is also a vibrant night market there, open from 7-11pm on the weekends. Finds include pork skewers and buns, grilled scallops, mini shrimp crepes, and sugar cane juice.

Asian Garden Mall Night Market 2.14.24

The night market takes place in the parking lot of Asian Garden Mall and draws accretive business. What would normally be empty during the Feb-May period without a night market becomes a thriving evening adventure during the summer months.

In comparing Feb-May visits (blue) versus Jun-Sept visits (red) below, the mall also draws from a much larger trade area when the night market is occurring.

Night Market Trade Area image
Asian Garden Venn diagram image

In terms of festivities, parades and food stalls abound at celebrations like the Tet festival in New Orleans, which takes place this year on Feb. 16-18 in the Village de l’Est neighborhood. There will be fireworks and a dragon dance and of course vats of simmering pho, crispy spring rolls, and puffy fried bananas. In San Jose, CA, home to one of the US’s largest Vietnamese populations, a Tet celebration will be held in the former Sears parking lot at Eastridge Center from Feb 16-18.  There will be a talent contest, a visit from Miss Vietnam California, carnival rides, and of course plenty of food booths and desserts.

One of the newer Korean-themed malls is the Source OC, which opened in 2019.  While the majority of the food options transport you to being in Korea, there is also Italian at Il Fiora, Japanese at Izakaya Ichie, and Mexican at La Huasteca.  One can indulge in Gangnam House Korean BBQ, Monday to Sunday shaved ice, and Cheesetella Japanese Cheesecake. We saw the Source OC dip during Covid like practically all retail, but it has bounced back and is now exceeding pre-Covid visitation levels. Besides the draw of the food, there is also an indoor golf-simulator, a VR experience, and a children’s playground.

Both Koreatown Plaza and Koreatown Galleria are long-standing stalwarts in the heart of LA, but as Americans of all ethnicities increasingly migrate to suburbs, we will no doubt see more shopping center options catering to ethnic tastes outside of downtowns.

The nation’s first enclosed shopping mall was Southdale Center in Edina, MN, a project that opened in 1956, by Victor Gruen, an Austrian-American who would henceforth be known as the “father of the shopping mall.” His original vision was a community hub with access to many shops as well as medical centers, schools, and even residences. This did not occur in the 50s, but three-quarters of a century later, many mall developers are re-envisioning malls to be places to live, eat, play, and shop as well as have access to essential services and to be that third space for community gatherings and celebrations. How fitting that another recent mall in Minnesota, the Asia Mall has been conceived as a reflection of the local community. It opened in November 2022, inspired by the desire for a one-stop pan-Asian mall to get all groceries as opposed to dashing around Minneapolis, St. Paul, Brooklyn Park, and Brooklyn Center to obtain the desired goods. Food and drinks are procured from various Asian countries, such as Vietnam, China, and Korea and anchored by grocery store Asian Mart 88. Dining includes Pho Mai, Hot Pot City with all-you-can-eat hot pot, Cruncheez Korean hot dogs, and Mochi Dough doughnuts.  As part of the trend for including essential services, this mall also has a hair salon, insurance company, and travel agency.

It also appears the concept of one-stop-shop, be it for Asian groceries or for warehouse-sized purchases, is prized by the inhabitants of Eden Prairie who really value efficiency. Asia Mall does half the visits of the nearby Costco, which is impressive. Besides home and work, visitors of Asia Mall are most likely to visit Costco before or after a shopping trip (below).

Asia Mall Visitor Journey to Costco 2.16.24

Learn how downtown regions across US cities are measuring up with our free tools.
Check out the latest trends for
No items found.

Related Topics

Stay Anchored: Subscribe to Insider & Unlock more  Insights
Subscribe
SHARE
Get 3 brand & industry
breakdowns every week
Subscribe to the newsletter
Oops! Something went wrong while submitting the form.
Recent Publications
INSIDER
Report
Retail Trends to Watch in 2026
Explore how value, luxury, and authenticity will define 2026 retail — and how brands are winning across digital, dining, and suburban markets.
Placer Research
November 14, 2025
Article
Four Black Friday Signals for the 2025 Holiday Season 
Black Friday 2025 foot traffic trends show a holiday season defined by value-driven decisions, regional price sensitivity, and shifts toward budget-conscious categories. Longer in-store visits and standout gains for convenient, low-ticket coffee chains highlight shoppers’ deliberate, mission-focused approach to spending.
Shira Petrack
December 5, 2025
4 minutes
Article
Will Upscale Dining Lead the Holiday Season Again?
Holiday dining patterns highlight upscale and fine-dining restaurants as the strongest seasonal performers, with coffee, casual dining, and eatertainment showing targeted lifts. Emerging YoY trends point to premium full-service concepts leading demand again this December.
Bracha Arnold & Lila Margalit
December 4, 2025
4 minutes
Recent Publications
INSIDER
Report
Retail Trends to Watch in 2026
Explore how value, luxury, and authenticity will define 2026 retail — and how brands are winning across digital, dining, and suburban markets.
Placer Research
November 14, 2025
Article
Four Black Friday Signals for the 2025 Holiday Season 
Black Friday 2025 foot traffic trends show a holiday season defined by value-driven decisions, regional price sensitivity, and shifts toward budget-conscious categories. Longer in-store visits and standout gains for convenient, low-ticket coffee chains highlight shoppers’ deliberate, mission-focused approach to spending.
Shira Petrack
December 5, 2025
4 minutes
Article
Will Upscale Dining Lead the Holiday Season Again?
Holiday dining patterns highlight upscale and fine-dining restaurants as the strongest seasonal performers, with coffee, casual dining, and eatertainment showing targeted lifts. Emerging YoY trends point to premium full-service concepts leading demand again this December.
Bracha Arnold & Lila Margalit
December 4, 2025
4 minutes
INSIDER
Stay Anchored: Subscribe to Insider & Unlock more Foot Traffic Insights
Gain insider insights with our in-depth analytics crafted by industry experts
— giving you the knowledge and edge to stay ahead.
Subscribe
Is lululemon Poised for a Holiday Rebound?
Placer.ai November 2025 Mall Index: Early Strength Offsets a Softer Black Friday
Four Black Friday Signals for the 2025 Holiday Season 
Will Upscale Dining Lead the Holiday Season Again?
Did Fewer Franchise Films Limit Thanksgiving’s Movie Theater Lift?
Darden Heads Into Holiday Season With Strong Visit Trends
How Did Grocery Stores Perform This Turkey Wednesday?
Short Visits Surge as Kroger Bets on Store-Based Fulfillment
How Do Holiday Shopping Patterns Differ for Off-Price and Traditional Apparel?
Dollar Tree and Dollar General Thrive Amid Inflation Fatigue
DICK's Sporting Goods Riding Positive Visit Trend into the Holidays
October 2025 Placer.ai Office Index: Continued Momentum
Red Cup Day 2025 Outperforms Last Year With Bigger Crowds Than Bearista
Gap and Urban Outfitters See Visit Increases in Q3
Back to the Future of Retail: Why Technology Is Bringing Us Full Circle
Department Stores Ahead of the Holidays 
Superstores and Warehouse Clubs Find Early Holiday Momentum
Lowe’s and The Home Depot See the Future of Home Improvement in the Next Generation
TJX, Burlington, and Ross Gear Up for a Blockbuster Holiday Season
Is Turkey Wednesday the Only Big Day for Grocers?
Placer.ai October 2025 Mall Index: Shoppers Return to Malls
How Starbucks Proved That Free Isn’t Everything
Denny’s Goes Private: What’s Next for America’s Diner
Three Retailers to Watch Ahead of the Holidays
Serving Those Who Served: How Restaurants Honor Veterans Day
High-Street Retail Poised for Another Holiday Rush
Offline Growth Drives Engagement for Warby Parker
Grocery Outlet Bargain Market & WinCo Still Thriving Amidst Inflation Fatigue
Does CAVA Still Have Growth Potential?
Catching Up With 2021’s Dining IPOs
Wendy’s Bets on Fewer, Bigger Deals in Q3 2025
Yum! & RBI: QSR in Q3 2025
Shake Shack & Wingstop: Navigating Q3 Waters
Sips Of Success: Coffee in Q3 2025
Texas Roadhouse and Chili’s: Strong Q3 Traffic and a Secret Sauce of High-Income Diners
October Promotions Aimed to Capture Demand From Value-Seeking Consumers In-Store and Online
Retail Outlook: A Tale of Two Consumers Heading into Holiday 2025
McDonald’s and Chipotle Face Headwinds in Q3 2025
Manufacturing Foot Traffic Signals Continued Caution
September 2025 Placer.ai Office Index: A Fall Resurgence
Placer.ai September 2025 Mall Index: Summer Slowdown Extends Into Fall
Summer Surge for Sturgis as Motorcycles Vroom En Masse
K-Beauty & Personalization Drive Beauty Traffic 
All the Things I Think I Think About Retail Over the Last Quarter: Amazon, Walmart & Why the Box May Soon Be on the Other Porch
The Geography of BevAlc Retail Growth
The Comeback Blueprint for Kirkland’s and Bed Bath & Beyond
Distinct Playbooks Driving Growth in Premium Home Retail
Do QSR Value Promotions Still Resonate With Consumers?
Who’s Losing Grocery Share to Dollar General – and What Consumer Habit Is Driving Its Growth?
Exploring Barnes & Noble’s Recent Acquisitions 
3 Factors Driving Dillard’s Department Store Success
Expansion Into New Categories Signals Shift for Gap Inc. 
Beauty and Fitness Foot Traffic: From Post-Pandemic Correction to New Normal
Hobby Lobby and Michaels Defy Discretionary Spending Headwinds
Black Rock Coffee's Post-IPO Growth Potential  
How Asian Grocers Are Redefining the Grocery Experience
Affluent Shoppers Sustain Luxury, But Growth Potential May Be Limited
Costco Early Openings Reshape Store Traffic Patterns
Q2 2025 Restaurant Recap: A Cautious Consumer Shapes Dining Trends 
Is Costco’s Momentum Built to Last?
The US Open: A Comparison of Visitors to Fan Week and the Main Draw
Republic Square’s Summer Programming Proves to be a Hit
Darden Restaurants’ Portfolio Powers Through Consumer Headwinds
Are Cracks in Consumer Resilience Beginning to Show? 
Placer.ai Manufacturing Index: Traffic Dips in August
Will Delayed Car Purchases Fuel a Surge in Aftermarket Maintenance?
August 2025 Placer.ai Office Index: An End-of-Summer Slump? 
What Are the Fast-Growing QSR Categories in 2025?
Placer.ai August 2025 Mall Index: Is Consumer Caution Weighing on Mall Performance? 
Subscriptions Drive Eatertainment Visits for Topgolf, Dave & Buster’s, and Chuck E. Cheese 
Has Starbucks' Pumpkin Spice Latte Retained Its Appeal in 2025? 
Thrift Store Visit Growth Outpaces Apparel as Tariffs Loom
America’s Parks Are Calling: Later, Longer, Busier
How Economic Realities Are Redefining Vegas Tourism
Nordstrom Anniversary Sale: An Event that Continues to Find Success Amid Reinvention
Manufacturing Visits Drop Post-Tariff Implementation
Semi-Annual Sale Drives Visit Surge For Bath & Body Works 
Ulta's Post-Target Future Looks Strong
Where Can Dollar General & Dollar Tree Still Expand? 
Five Below & Ollie's Traffic Signals Growth for Value Retail
Gap Inc. Q2 2025: Old Navy Leads Foot Traffic Gains as Middle-Income Shoppers Return
Best Buy H1 2025 Traffic Data Suggests a Recovery Is Underway
How Athletic Retailers are Weathering the Storm in Q2 2025. 
Expansions Drive Visit Gains for Wholesale Clubs
Discretionary Slowdown Impacts Kohl's & Macy's Mid-Market Brands
Value-Driven Shoppers Still Fueling Off-Price Growth at Burlington, Ross, & Citi Trends
Home Depot & Lowe's: Navigating Challenges & Finding Growth in 2025
Lollapalooza Supercharges Summer Tourism in Chicago
What Walmart and Target's Q2 2025 Traffic Reveals About Future Performance
TJX Q2 2025 Visit Data Points to Strong Performance
The Summer Slowdown: Why Consumers Are Pumping the Brakes on Travel
Placer.ai Office Index: July 2025
Placer.ai Mall Index: July 2025
Retail’s Balancing Act: What the First Half of 2025 Reveals About Evolving Consumer Priorities
Din Tai Fung: Sky High Average-Unit-Volume is a Recipe for Success
Bracing for Impact: July's Manufacturing Surge Reveals Tariff Anxiety
How EAT, TXRH & BLMN Are Navigating the Q2 2025 Dining Market
Life Time & Planet Fitness Q2 2025 Visit Recap
Growth vs. Optimization: A Q2 2025 Analysis of First Watch, Denny's, & Dine Brands
Scaling Fast-Casual: CAVA's Depth vs. Sweetgreen's Breadth in Q2 2025