What: Placer.ai reviews the state of US malls thanks to its geolocalized data.

Why it is important: In the US, malls have attracted a more affluent clientele, especially in the open-air locations, and urban malls are recovering faster than suburban ones: is this the dawn of a new era for US cities?

The report analyzes consumer behaviour and trends related to different types of malls in the US, including indoor malls, open-air lifestyle centres, and outlet malls.

• Visits to malls are increasing again after declining during the pandemic, with open-air lifestyle centers seeing the strongest growth.

• Malls attract more affluent visitors compared to the general population. Open-air lifestyle centres draw the wealthiest shoppers.

• Mall visits tend to be higher in summer months when the weather is warmer, especially in hot southern states where shoppers take advantage of the air conditioning.

• Urban malls are recovering faster than suburban malls, with urban visits up 3% year-over-year compared to a 1.7% decline in suburbs. However, suburban malls remain popular weekend destinations.

• Each mall format serves a different purpose and caters to distinct demographics. For example, outlet malls attract value-driven shoppers while open-air lifestyle centers cater to high-income shoppers seeking an experience.

• Location, layout, and proximity to shoppers impact how malls are used, whether as part of a leisure outing or for quick errands. Suburban malls tend to be destinations while urban malls provide more convenience.

Overall, the report shows malls remain highly relevant spaces with a unique role in retail, though they must cater experiences to their target demographics based on location, format, and seasonality.

The state of US malls