Thanks for Visiting!

Register for free to get the full story.

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

Placer.ai Mall Indexes: November 2022 Update

by 
Ethan Chernofsky
 on 
December 6, 2022
Placer.ai Mall Indexes: November 2022 Update

About the Placer.ai Mall Indexes: These Indexes analyze 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. 

When we last looked at malls, there was an expectation that declines compared to 2021 in October could actually signal potential strength in November and on Black Friday. Yet, that potential failed to materialize, with Black Friday and the corresponding weekend seeing visit declines compared to a pre-pandemic 2019 and even 2021. 

But there’s more to the mall story in 2022, and this could have very interesting implications for retail strategies moving forward.

Holiday Pattern Shifts

In November, visits for the indoor malls were down 6.4% year-over-year (YoY), while visits to open-air lifestyle centers were down 5.4%. These were essentially the same metrics as were seen in October, which shows a flattening of the current visit rates. Yet, while October visits were being compared to an especially strong month in 2021, November visits were going against a relatively easier comparison to a more challenged month in 2021. 

November also marked the second straight month of month-over-month (MoM) visit growth for all three formats, with outlet malls seeing the strongest jump of 16.4%. These jumps – on the back of a strong early shopping season in October – show the continued demand for November mall visits as part of the wider holiday retail season. 

However, when seen in historical context, it also shows the impact of the extended holiday season and new shopping behaviors. From 2017 through 2019, the average increase in visits between October and November for indoor malls was 21.7%, while average MoM increase during that time was 12.1% for open-air lifestyle centers and 34.0% for outlet malls. In 2021 and 2022, the average MoM increase between October and November was 8.8% for indoor malls, 3.0% for open-air lifestyle centers and 18.3% for outlet malls. This shows a significant shift in the overall centrality of November shopping within the wider holiday retail context – a reality that has benefits and risks for retail.

The Bright Side for Malls

While the combination of the YoY drops alongside November’s declining centrality could be cause for concern, there are also important signs that show retail’s evolving, and in some ways, improved position. Indoor malls saw a 6.0% increase in median visit duration between October and November – indicating that while visits may have decreased, the value of each of those visits likely increased. 

This is also a testament to the more ‘well-rounded’ experience top tier malls are aimed at providing and to their ability to bring in the right customer for a more comprehensive visit.

And it touches on overall spend too. According to Salesforce, Average Order Volumes online were up over 5% on Black Friday and the Saturday that followed, even though both days saw online visits either flat or down. These increases in order value alongside the decreases in overall visits online and offline indicates that shoppers are coming with more intent and more focus than before. This is likely happening in brick and mortar as well making each visit more significant for offline and online sales, especially since physical retail visits are playing an ever increasing role in the product discovery process. 

Another sign of the evolving strength is the larger declines being seen in ‘traditional’ mall anchors like department stores and apparel. Visits to those segments were down even more than malls, indicating that the shifts malls have been making to broaden their tenant mix are helping to offset holiday shopping changes. 

It’s also important to note that the holiday season isn’t over – and malls often get a significant foot traffic boost closer to the end of the year, as last-minute gift shoppers head to the mall to make some final purchases before the holidays. So while visit numbers remained muted over Black Friday, there is still an entire month to this year’s holiday retail season – and the pre-Christmas gift scramble may well bring the category’s foot traffic levels up in December. 

Will super Saturday drive last minute visit spikes to malls this year? 

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.
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
Texas Roadhouse Innovations Dishing Up Success
Holidays on the Horizon: Mid-Range and Luxury Shopping
McDonald's and Chipotle's Post-Pandemic Success
Announcing Placer.ai’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
Placer.ai Spotlight: Wawa’s QSR Pivot
Placer.ai Mall Indexes: September 2022 Recap
Placer.ai 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  
Placer.ai Office Building Indexes: August 2022 Recap