Malls of all kinds are bustling this summer, with visits to indoor malls and open-air shopping centers up 2.5% and 2.4% year-over-year respectively in July. The growth in mall traffic was moderate compared with May and June, but still underscores continued strength within the segment, according to Placer.ai’s July mall index.
Outlet malls showed a slight decline during the month compared with July 2023, however, they showed strong performance during the Fourth of July holiday, drawing a 13.7% week over week increase when shoppers were less inclined to visit indoor malls and open-air shopping centers. Seeking festive treats and barbecue eats, shoppers drove outlet mall visits up 50.7% on July 4th compared to an average non-holiday Thursday.
All three mall segments showed an uptick in visits on a weekly basis starting in the last two weeks of July, likely driven by back-to-school shopping. Sales targeting back to school shoppers typically run from Mid-July through mid-September.
The Placer.ai index analyzes data from 100 top-tier indoor malls, 100 open-air shopping centers and 100 outlet malls in both urban and suburban areas across the country. The index historically has demonstrated the power of calendar milestones to drive spikes in shopping center visits, including the Independence Day holiday.
The July traffic figures follow a strong June for malls, which benefited from heat waves that prompted customers to spend time at malls, likely in search of air-conditioned spaces.