11/14/2022 0 Comments Free foot traffic dataThat’s a less steep decline than six months prior, when indoor mall foot traffic was down 21% and outdoor was down 8.4%, but it’s a fall nonetheless. Mall foot traffic was down 6.5% at indoor malls in September 2021 as compared to only down 5.2% at outdoor malls. Consumers display greater comfort in outdoor mallsĭata from Placer.ai unearths another geographic impact beyond urban vs. This all but disappeared in 2020, with the introduction of travel restrictions. In fact, according to JLL Retail, global visitors fueled more than $43.4 billion of shopping sales in 2019. Markets like New York have long relied on international visitors to boost retail sales. Though suburban foot traffic has recovered, urban shopping centers and malls are still seeing foot traffic 16% under pre-pandemic levels. As a result, s uburban shopping centers have seen faster recovery than urban retail in fact, suburban retail traffic has nearly returned to 2019 levels. As they no longer had to live where they worked, millions relocated to the suburbs or even further afield. Without the need to go to an office each day, consumers adopted new work-from-home lifestyles. The pandemic had other unforeseen impacts as well. Even as consumers yearn for socialization and emerge from isolation, the convenience and cost-saving of online shopping will change consumer behavior to some degree. In fact, the single biggest factor in the decline of foot traffic at shopping malls has been the rise of online shopping. Online shopping had been gaining share for years, but being kept at home in forced isolation accelerated this trend exponentially. Shopper analytics company Springboard noted that it gradually improved to being 66.8% below 2019 levels by the end of 2020. Looking at the impact of the pandemic on malls from the widest lens, it’s clear COVID-19 was a major challenge, as the average mall foot traffic dropped nearly 90% at the outset. Headwinds expected to continue Read more on all the ways retail foot traffic impacts you (and how to capture it!) with “ Retail Foot Traffic: The Essential Guide” The pandemic’s influence on mall foot traffic Summer 2021 surge toppled by supply chain issues The pandemic’s influence on mall foot trafficĬonsumers display greater comfort in outdoor malls We’ve assembled a broad range of data points and trends to explore the many factors impacting mall foot traffic, from the role played by distinct COVID-19 variants to supply chain disruptions, rising gas prices, and inflation fears. It’s therefore critical to explore more than a simple point of mall foot traffic data pre and post-pandemic. Shopping habits and trends have changed, and some changes will be here to stay, but the true picture of what happened, and is still happening, is much more nuanced. But the “death of the mall” was widely misrepresented. The global pandemic took a toll on retail, especially mall foot traffic.
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