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Malls and shopping centers aren’t dead yet, Retail Brew has previously reported. Although their role has shifted over the past few decades, they continue to play a key role in the American retail landscape.
Historically, malls and shopping centers have been community hubs, but foot traffic declined during the pandemic. Rising costs of consumer goods, gas prices, and inflation fears haven’t helped.
But a recent report from foot traffic analytics firm Placer.ai has found that “states with lower-than-average inflation are also experiencing stronger-than-average YoY visits” to shopping centers, Placer.ai spokesperson Jesse Kent told Retail Brew.
“By understanding regional trends, format based behaviors and more, shopping center owners can better optimize their fleet to drive success and meet shifting consumer demands.” — Total Retail
Source: Total Retail