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ICSC: Regional Mall Sales Strong

NEW YORK CITY-Sales productivity for regional malls rose for the 24th consecutive month, with electronics and home entertainment leading the charge.

By Dana Dubriwny | Updated on April 19, 2005

NEW YORK CITY-While lifestyle centers and destination retailers make ongoing headlines, a recent report by the International Council of Shopping Centers (ICSC) disproves a perception that enclosed malls are a thing of the past. Patrice Duker, spokesperson for ICSC, admits that shoppers visit new retail concepts out of curiosity, but many still enjoy the comfort of a familiar retail layout.

“It goes to whole psyche of consumer patterns,” Duker says. “Some consumers are so comfortable in closed malls because they can go into their favorite store, and they know four stores down is the Gap. It’s our habit-forming behavior, and the enclosed mall allows that.”

According to US Mall Monthly Merchandise Index released Monday, sales productivity rose for the 24th consecutive month. The healthiest tenant group was furnishings, which increased by 9.6% from the same time last year. Electronics and home entertainment comprised the biggest increase in this category with sales productivity soaring 14%. Consumer demand coupled with a steady flow of new product releases has sustained this segment for some time.

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