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.
Text Link
Indoor Malls
Text Link
Outlet Malls
Pent-Up Demand Ahead of October Sales Events
4 Strategies Retailers are Using to Drive Traffic to Their Venues
5 Key Regional Grocery Players Impressing in 2023
Upscale Kitchenware Trending Up
Costco Finds More Room for Growth
Four C-Store Chains Making an A-Grade
National Parks + Outdoor Summer Activities
Diving Into Darden: Summer 2023 Update
The Summer Event Effect
Messi: Massive in Miami
Looking Back on Back to School 2023
The Anchor Recap: August 2023
Placer.ai Office Index: August 2023 Recap
Placer.ai Mall Index: August 2023 Recap
Placer.ai White Paper Recap: August 2023
Starbucks Pumpkin Spice Latte Strikes Again
Big Scoop: We All Scream For Ice Cream
Sports Away: Lululemon & Nike’s Momentum Continues
Summer Visits Heat Up For Recreation and Outdoor Gear Chains
No CSS overwrite - July 2023 Office Index Recap
Staging - August 2023 Mall Indec
Mid-Atlantic Grocery Deep Dive
Experiential Chains Heating Up This Summer
Petco Goes Big by Going Small
Ulta Beauty: Leading the Discretionary Pack
Discount and Dollar Chains Continue to Thrive
Summer of Sports: DICK’s Sporting Goods and Hibbett Sports
Off-Price: Succeeding Into Summer
The Anchor Recap: July 2023
Superstores Maintaining Pandemic Gains Amidst Economic Headwinds
2023: Home Improvement at the Halfway Point
July 2023 Office Index Recap
Placer.ai Mall Index: July 2023 Recap
widget test
The Taylor Swift Visit Lift
Southwestern Grocery Dive
July 2023 White Paper Recap: Halfway Point Review & Quarterly Index
Yum! Brands: Driving Dining Visits
Slurpees and Summer Movies Stimulate Consumer Foot Traffic
Cool Beans: Summer Coffee Update
Checking In on Back to School 2023
Crocs and New Balance Tip The Scales
Burger Bliss: Shake Shack and In-N-Out Stacking Visits
Chipotle & McDonald's Continue to Reign Supreme
Vibenomics and Placer.ai Partner to Enhance Retail Media In-Store Measurement
California Grocers Here We Come!
Marriott’s Different Audiences
Bonchon and Kura Sushi Thrive in the Fast-Casual Scene
A Shoe In: Footwear Climbs to the Top
Cheers! Raising a Glass to Beverage Retail
Placer.ai Office Index: June 2023 Recap
Placer.ai Mall Index June 2023 Recap – A Turn of the Tide and a Dive into Open-Air Lifestyle Centers
Local Kitchens: Redefining the Restaurant
Unlocking Urban Insights: The Value in Manhattan’s Employees
Ohio State Parks On The Rise
How is Inflation Impacting the High-Income Shoppers?
Five Fast-Growing Dining Chains
What To Expect From Prime Day and July Sales Events in 2023
The State Of Fashion: How Are Apparel Retailers Faring in 2023?
2023’s Latest Dining Success Story: GEN Korean BBQ House
The NBA Finals: A Location Intelligence Perspective
Moving the Market: The Impact of Domestic Migration on Housing Costs
Post-Pandemic Museum Update
The Darden-est Things
The Enduring Demand for Urban and Suburban Retail
Leveraging Data to Evaluate the Impact of Municipal Investments
Trader Joe's Success Amidst Food Inflation and Changing Consumer Behavior
Placer.ai Office Index: May 2023 Recap
Fitness at its Fittest: Staying Strong in 2023
Movie Theaters, Off-Price, and Home Improvement: May 2023 Recap
Placer.ai Mall Index - May 2023 Recap
What’s Working for Bath & Body Works?
Why Are Specialty Grocers Thriving in 2023?
The CAVA Craze: A Location Intelligence Perspective on the Mediterranean Marvel
How Will Primark’s US Expansion Impact Target?
All Eyes on Eyewear
Northwestern U.S. Grocery Dive
Return of the Lunch: Salad Chains Are Thriving
Retail Media Networks – Off the Beaten Track
Bet Your Bottom Dollar: Discount and Dollar Stores Drive Foot Traffic
Ulta & Lululemon: Discretionary Spending On The Up
The Score After Q1: Sporting Goods Chains
Who Uses NYC Airports: Biting Into The Big Apple’s Main Transport Hubs
Off Price: Strength in The Face of Retail Challenges
Visits Improve for Home Improvement
Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?
Department Store Roundup: Q1 2023
Placer.ai Office Index: April 2023 Recap
Placer.ai Mall Index, April 2023 – A Rebound on the Horizon?
How Will Bed Bath & Beyond’s Bankruptcy Impact the Retail Space?
Buffet Restaurants: Filling Up on Foot Traffic
Thrift Stores: Vintage Visits Drive New Age in Apparel
The Windy City: A Hub of Post-Pandemic Opportunity
Diving into Dining Traffic - Q1 2023
Bring On The Joe
A Dollar (or more) For Your Thoughts: Five Below and pOpshelf
Dining Out With The Cheesecake Factory
Retail Foot Traffic Recap – March 2023
Digging Into 2023: McDonald’s and Chipotle Update
Placer.ai Office Index: March 2023 Recap