With the holiday season in rear view, Placer.ai has analyzed data to showcase the month of December and its significant impact on brick-and-mortar retail, specifically malls.
Holiday season peaks were significant with Black friday leading the pack – rising high above its annual average. The last week of December also served as a notable time for indoor malls and open-air lifestyle centers. Visits in December rose 40.3% for indoor malls compared to November visits while open-air lifestyle centers and outlet malls saw increases of 27.7% and 31.6% respectively month-over-month.
These trends have laid the framework for a very strong start to 2023. Early results indicate that these numbers are even stronger than initially expected. Visits the week beginning December 25th were up 12.3% year-over-year for indoor malls and up 9.1% and 10.6% for open-air lifestyle centers and outlet malls. Christmas week featured an extended shopping opportunity with the holiday falling on a Sunday.
Repeat visits have also been growing, showing that consumers aren’t just shopping, but also increasing the rates of their visits to malls.