Thanks for Visiting!

Register for free to get the full story.

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

Placer.ai Mall Index - June 2022 Update

by 
Ethan Chernofsky
 on 
July 5, 2022
Placer.ai Mall Index - June 2022 Update

About the Mall Index: The Index analyzes data from more than 100 top-tier indoor malls, 100 open-air lifestyle centers (not including outlet malls) and 100 outlet malls across the country, in both urban and suburban areas. Placer.ai uses anonymized location information from a panel of 30 million devices and processes the data using industry-leading AI and machine learning capabilities to make estimations about overall visits to specific locations. 

The wider retail landscape has been significantly impacted by the combination of inflation and high gas prices with visits taking a significant hit. We dove into the Placer.ai Mall Index to see how visits were faring ahead of a key summer season.

Year-over-Year Strength Diminishing

Visits for indoor malls continued to outperform the equivalent month from 2021, but the overall strength did wane. Visits were up 1.5% for indoor malls, and 0.5% for open-air lifestyle centers. And while this growth is important, the comparison is limited as overall mall visits were still in the early stages of the post-COVID recovery in June of 2021.

For June, outlet malls saw a decline of 6.7% year over  year (YoY), in line with the same gap seen in May. And the decline for outlet malls is especially important as it indicates the unique impact that high gas prices are having on visits. While outlet malls would normally thrive when consumers are looking to save money as a result of inflation, the distance needed to travel to many outlet malls is limiting performance. 

Visit Gaps Expanding

This perspective comes into sharper view when looking at visits compared to the same period pre-pandemic. From this perspective, visits to indoor malls were down 9.5%, open-air lifestyle visits down 9.4% and outlet malls down 14.3%. The expanding declines speak to the cumulative impact that inflation and gas prices are having on consumer visits. Critically, this does not necessarily mean a decline in purchasing as it could simply be driving a more efficient shopping experience where visitors look to accomplish more with each visit – a return of mission-driven shopping

Context and Recovery

And while the situation is certainly challenging, there were also positive trends as the month concluded. After seeing visits hit their lowest point the week beginning June 6th  from a year-over-three-year (Yo3Y) perspective, traffic has been steadily improving. Visits beginning the week of June 20th and June 27th were down just 5.3% and 6.8% for indoor malls, and 5.4% and 7.9% for open-air lifestyle centers respectively, bringing them in line with April and May numbers. This positive trend is critical heading into a very important July and August back to school season.

The challenges also require context to properly understand how strong top tier malls are truly performing. While indoor malls and open-air lifestyle centers saw declines of 3.7% and 2.4% respectively month-over-month (MoM), equivalent declines for even high performing segments like superstores, apparel, and grocery were down 5.8%, 3.7% and 6.1% respectively MoM. These declines speak to the wider impacts being felt across the retail landscape and make the relative performances from top tier malls look fairly impressive, especially considering the non-essential nature of these visits.

The result is a powerful indication that demand is clearly there, though it is being limited by the wider economic headwinds impacting the space.

Can the different mall segments continue to rebound? 

Visit Placer.ai to find out.

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 Placer.ai Free
Oops! Something went wrong while submitting the form.
It’s Showtime! Movie Theaters in the Spotlight
5 Limited Time Offers (LTOs) Driving Restaurant Traffic
Department Store Deep-Dive: Belk
Regional Grocery Chains Staying Ahead of the Competition
Five Chains that Rightsized for Success
Unlocking the Potential of Offline Retail Media Networks
Dining Out With Darden
What’s in Store for Self-Storage?
Nike + lululemon Update: Strong Performance Amid Expansion Plans
Many Ways to Win: Midwest Grocery Deep Dive
Retail, Reinvented: The Rise of the Pop-Up Shop
Navigating a New Normal in Business Travel & Commutes
Placer.ai Office Index: February 2023 Recap
Retail Categories Staying Strong in Volatile Environment
Ulta Beauty: Poised for Success into 2023
Placer.ai Mall Index February 2023: Reasons for Continued Optimism
Catching Up With DICK’s & Hibbett
The Miami-Dade Arena: An Advertising Slam Dunk
Car Washes Revving Up Visits
Tuesday Morning and Sunrises in Home Furnishing
Dining & Valentine’s Day Recap
2023: The Year of the Discount Store
Aldi’s Success Highlights Growing Demand for Value Groceries
5 Retail & Service Categories Holding onto Pandemic Gains in 2023
Visitor Insights from Super Bowl 2023
2023 First Look: Home Improvement Update
How Are Target, Walmart, and Wholesale Clubs Faring in 2023?
Department Store Deep-Dive: Nordstrom
Off-Price: Taking Off in Uncertain Times
Checking in On Middle-Class Hubs
Who Attends the Super Bowl?
Placer.ai Office Index: January 2023 Recap
Focusing On Fitness: Q4 and January Recap
Placer.ai Mall Index: January 2023 – Returning Mall Normalcy?
Location Intelligence Insights Into Concert Attendance
Winning Dining Strategies for 2023
In-N-Out Burger: What to Expect as the Brand Moves East
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Migration 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
Placer.ai’s Q4 2022 Quarterly Index
Placer.ai 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
Placer.ai 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
Announcing Placer.ai’s COVID RECOVERY DASHBOARD
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
Placer.ai 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
Placer.ai 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
Placer.ai Office Index: October 2022 Recap
Placer.ai 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
Placer.ai Spotlight: Pizza Players
What Drove COVID-Era Urban Migration Trends?
Kroger and Albertsons: A Merging of Strengths