A sharp decline in consumer traffic for indoor malls, and a slightly less impactful reduction in outdoor mall traffic, hit retailers hard during the pandemic, but it wasn't enough to knock either medium down for the count, a new study from consumer data analytics company Placer.ai found.
The study looking at the data from 10 indoor malls and 10 outdoor malls across the country found that while significant reductions in traffic were expected and found, the shopping centers are rebounding nicely, and could learn some lessons from each other moving forward.
The week of May 4, indoor shopping centers were down 74.6% year-over-year, while outdoor centers were down 74.5%. As of June 8, those numbers rebounded, showing a decline of 41.7% for indoor malls and 33.5% for outdoor venues.
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Patrick Smith
Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, M&A and corporate work, leadership and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd
