Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a account? Log In

Mall and Shopping Center Trends For 2023

Bracha Arnold
December 9, 2022
Mall and Shopping Center Trends For 2023

Brick-and-mortar retail has had a tumultuous few years, from the lockdowns of 2020 to the high gas prices and inflation of 2022. Yet, consumer demand for in-person retail and services has remained strong, with key categories bouncing back after each new challenge.

Our latest white paper dives into some of the key trends likely to shape the retail landscape in 2023. We examined foot traffic data, migration trends, and office recovery patterns to better understand what the coming year may have in store. Keep reading to find out what retail and retail services in the brick-and-mortar consumer space need to know going into the new year. For the full report, read the white paper here.    

The Tenant Diversity Trend Picks Up Pace

Pre-pandemic, the defining narrative in brick-and-mortar retail was the retail apocalypse, driven heavily by widespread store closures from top retailers like Sears and K-Mart. Yet, while many previously strong anchors were shutting their doors, a far more significant trend was emerging where retail-oriented centers and malls were embracing new tenant types. From gyms to co-working spaces to medical practices, the growing presence of non-retail tenants has made a lasting and significant impact on the brick-and-mortar retail landscape.

These tenants provide a range of benefits. They increase opportunities for retailers by generating new off-peak traffic and reducing competition between retail tenants. Non-retail tenants also allow shopping center visitors to have a more holistic, immersive experience which extends visit durations and gives consumers more reasons to frequent a shopping center. And non-retail tenants dramatically increase optionality for landlords by empowering shopping center operators to identify the ideal tenant without the standard limitations dictated by traditional understandings of fit. 

The result is a unique win-win-win situation that benefits landlords, tenants, and visitors. Expect landlords to be particularly fond of this trend as it increases their optionality in a period where demand for space in top tier centers is only increasing.

The Rise of the B Mall

The idea that the U.S. is fundamentally overmalled is almost as widespread as the retail apocalypse narrative. But while there is truth to this argument, a key trend indicates that the narrative may be exaggerated. 

The wider diversity of tenants coming to top tier malls and the growing number of brands jostling for these now limited openings has increased competition for space, driving many potential tenants to look elsewhere. Alternatives include open-air lifestyle centers, downtown areas, and strip centers, as well as shop-in-shops and pop-ups.

But there is also the very real potential for retailers to look at less popular malls for their next location – and the opportunity here is significant. Retailers that had struggled to stand out within a packed top-tier mall may find that their role in a lower-class mall is actually elevated, giving them a stronger position within the market and more sales. And if these malls shift their focus from competing with the regional supermalls to focusing on specific audiences or providing differentiated experiences, the potential symbiosis can be powerful.

Critically, the rise of lower-tier malls demands that these shopping centers embrace the opportunity and focus on differentiation and audience targeting as means of driving necessary visits – especially considering the strength of top tier malls is increasing, not diminishing. But, if this shift does take place, it will prove that the magnitude to which we are in fact overmalled is far less than previously expected.

The past few years have seen the retail world undergo more than one significant and far-reaching transformation – yet, brick-and-mortar is proving its resilience and ability to adapt to new circumstances. 

For more insight and a closer look at how retailers can adapt to new challenges, read the white paper here

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Free
Oops! Something went wrong while submitting the form.
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Trends
A Location Intelligence Perspective on Macy’s Rightsizing
Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?
Cold Weather, Hot Visits: Diving into Winter Resorts
Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”
2022 and Beyond: Catching Up With McDonald’s & Chipotle
Let’s Have Some Fun! Going Out Is In’s Q4 2022 Quarterly Index Adds Industry Executives to Leadership Team To Drive Company's Next Phase of Growth
5 Emerging Retail Formats: 2023’s Brick-and-Mortar Evolution
Grocery Update: Zooming in on the Lone Star State
2022 Office Recap: The Year of the TGIF Work Week
What Lies Ahead for Brick-and-Mortar Luxury in 2023 Mall Indexes: December 2022 Recap
Looking Back on 2022’s Holiday Shopping Season
Post-Pandemic Migration Trends in New York
Top Retailers for 2023
The Live Sports Advertising Opportunity
Domestic Migration to the Mountain States: Small Shifts with Big Implications
New Year, New Food: 5 Dining Trends For 2023
This is Why Shop-in-Shops Are Everywhere
Super Saturday 2022 Recap
The San Francisco Shift
Grocery Year-End Update: Publix in the Spotlight
Three Ways Retailers Can Think Small to Increase Store Impact
Offline Beauty Is on an Upswing
The Evolving Migration Patterns of New York’s Florida Snowbirds Office Index: November 2022 Recap
How Viral Social Media Trends Can Drive Offline Engagement
Are You Ready for Some Football? Experiential Marketing Shows Promise
Mall and Shopping Center Trends For 2023
Retail Corridors and Indoor Malls: A Holiday Head-to-Head
Placer Bytes: Nike, lululemon, and GameStop Update Mall Indexes: November 2022 Update
Black Friday 2022: Consumers Hear the Call
Digitally Native Brands: Taking Off, Offline
Discount and Dollar Stores Leading the Pack
Turkey Wednesday 2022
Retail’s Evolving Holiday Season
Placer Bytes: Starbucks and Department Stores Ahead of Black Friday
Ulta: A Force to be Reckoned With
College Towns Drive Dining Growth
Foot Traffic Trends Reveal Consumers Ready for Holiday Cheer
How Retailers Can Win Big By Going Small
How Are Consumers Feeling Ahead of Black Friday 2022?
Off-Price, Hibbett, and Dick’s Pre-Holiday Check-in
Ho, Ho, Wholesale: Costco, Sam’s Club, and BJ’s
October 2022’s Retail Rebound
Target and Walmart Ahead of the Holidays
Home Improvement: Leave it to the Pros
Despite Inflation, Holiday Season is Off to a Good Start Office Index: October 2022 Recap Mall Indexes- October 2022 Update
Americans Double Down on Fitness
The State of Grocery
CVS and Walgreens: The Wave Continues
Coffee Chains Brewing Up Visits Spotlight: Pizza Players
What Drove COVID-Era Urban Migration Trends?
Kroger and Albertsons: A Merging of Strengths
Texas Roadhouse Innovations Dishing Up Success
Holidays on the Horizon: Mid-Range and Luxury Shopping
McDonald's and Chipotle's Post-Pandemic Success
Announcing’s Q3 2022 Quarterly Index
5 Hot Restaurant Brands for 2023
Target Finds a Winning Deals Day Formula
Five Trends to Watch for 2022’s Holiday Shopping Season
September 2022 Analysis: A Difficult Month and Time for Optimism
Inflation’s Retail Winners
Five Apparel Retailers to Watch Ahead of the Holidays Spotlight: Wawa’s QSR Pivot Mall Indexes: September 2022 Recap Office Indexes: September 2022 Recap
The Impact of Population Growth on Commercial Real Estate 
Starbucks' New Makeover
There's Somethin' About Pumpkin
Expanding Offline Reach
Breakfast Restaurants are Rising in Popularity
The Power of Labor Day 2022
Tourism in Miami Heating Up
Citi Trends on the Rise
Reaching Rural Consumers Through Retail Media Network
Darden Restaurants Cooking Up Success
The Home Improvement Sector: A Sign of Consumer Confidence
QSR Is Having a Northeastern Growth Spurt
Domestic Migration’s Ripple Effects
A Look Back at Back To School 2022
Kroger Digital Tell-All
The Return of In-Person Networking
The Reinvention of the American Mall Office Building Indexes: August 2022 Recap Mall Indexes - August 2022 Recap
Five Below’s Back to School Success
Plus-Size Fashion’s Staying Power
Placer Bytes: Best Buy & GameStop 
Petco Barking Up the Right Tree
Lipstick Effect Boosts Ulta’s Growth