《Placer.ai：2023年商場消費者行為分析報告（英文版）（15頁）.pdf》由會員分享，可在線閱讀，更多相關《Placer.ai：2023年商場消費者行為分析報告（英文版）（15頁）.pdf（15頁珍藏版）》請在三個皮匠報告上搜索。

1、April 2023Navigating a ChangingMall:AnalyzingConsumer BehaviorMalls still play a key role in the wider retail landscape.Thisreport analyzes changes in shopping center visitor behavior tosee how malls are maintaining relevance in 2023.1Despite Naysayers,Malls Are Maintaining RelevanceWhen malls first

2、 emerged on the American retail scene,their value proposition wassimple.By combining specialty retailers and dining brands under one roof and addinganchor tenants to draw in a wide audience,shopping centers offered a venue thatboth facilitated socializing and provided a convenient one-stop shopping

3、experience.But with the rise of the web the ultimate one-stop-shop analysts beganquestioning the relevance of the format,with many calling on malls to reinventthemselves in order to survive.But while some shopping centers have succeeded in rising to the top throughinnovation,other malls are carrying

4、 on with business as usual.And although traffichas dipped slightly over the years,visits have not dropped as dramatically aspredicted.So who is still visiting malls?How do shopping centers visits today differfrom pre-pandemic trends?And which type of mall was most popular among 2022mall visitors?Thi

5、s white paper looks at recent location intelligence data to better understand thecurrent state of malls and shopping centers.First,we looked at data fromGrocery-Anchored Shopping Centers and from the Placer.ai Mall Indexes,which focuson top-tier Indoor Malls,Open-Air Lifestyle Centers(not including

6、outlet malls),andOutlet Malls.We analyzed visit numbers,dwell times,daily and weekly visitdistribution,and visitor journey information to see how actual visit patterns havechanged in recent years.We also zoomed out to the wider Shopping Center categorywhich includes thousands of shopping centers thr

7、oughout the country to understandhow inflation and high gas prices may have impacted shopping center traffic.How Have Mall Visits Changed Over The Last ThreeYears?The pandemic restrictions had a profound impact on malls.Online shopping soared,and predictions of the end of malls led many popular mall

8、-based brands to press onreconfiguring their store fleet and redirect their focus to off-mall venues.But despitethe extreme rhetoric surrounding the future of malls,mall traffic has rebounded,withyear-over-three-year(Yo3Y)visit gaps for all four shopping center segments analyzednarrowing below 10%.2

9、023 Placer Labs,Inc.|More insights at placer.ai|2Indoor Malls and Open-Air Lifestyle Centers posted similar 2022 visit trends,includinga similar dip in Yo3Y visits likely due to a stronger focus on bringing in the rightaudiences combined with the ongoing effects of economic headwinds like inflation.

10、YoY traffic also grew for both segments,which indicates that Indoor Malls andOpen-Air Lifestyle Centers are also still recovering from the COVID impact.Meanwhile,Grocery-Anchored Shopping Centers saw visits increase in 2022 relativeto both 2019 and 2021 perhaps thanks to the resurgence of necessity-

11、basedshopping,the growth of suburbs due to migration and professional shifts,andconsumers desire to consolidate trips during the gas price surge of 2022.Grocery-Anchored Shopping Centers sawvisit growth relative to both 2019 and 2021.Outlet Malls faced the most challenges in 2022,with visits down bo

12、th YoY and Yo3Y.Part of the traffic dip may be due to last years high gas prices leading some people tocut down on driving time,since most consumers tend to drive further to outlet mallsthan to the other three categories.Outlet Malls may also be facing increasedcompetition from other off-price brand

13、s and the increase in discount options attraditional retailers.The ongoing inflation may mean that outlet malls will continue to 2023 Placer Labs,Inc.|More insights at placer.ai|3feel the strain over the coming months as consumers continue to cut down onshopping sprees,limit travel costs,and focus o

14、n essentials.Consumer Behavior Patterns Across Mall TypesWhile Grocery-Anchored Shopping Centers have a distinct function,Indoor Malls,Open-Air Lifestyle Centers,and Outlet Malls also appear to serve different purposesin consumers shopping and recreation routines.Hourly and Weekly Visit Distribution

15、Visits to Indoor Malls,Open-Air Lifestyle Centers,and Outlet Mall are distributeddifferently throughout the day and week.Outlet Malls are not as plentiful as Indoor Malls or Open-Air Lifestyle Centers andgenerally demand more open space,which means that getting to an outlet mallusually requires a lo

16、nger drive.This may explain why Outlet Malls receive the largestshare of weekend visits 44.1%,compared to 40.0%and 37.8%for Indoor Malls andOpen-Air Lifestyle Centers,respectively.Perhaps due to the larger share of weekendvisits,traffic to Outlet Malls also peaks earliest in the day,with the majorit

17、y(54.3%)ofvisits taking place before 3 PM,another indication of the day-trip nature of the visitand the opportunities that entails.Open-Air Lifestyle Centers had the lowestrelative share of weekend visits,perhapsbecause consumers visit these formats formore routine afterwork recreation.The hourly vi

18、sit distribution for Indoor Malls was relatively similar to that of OutletMalls,with Indoor Malls seeing slightly fewer morning visits and slightly more lateafternoon and evening visits.Meanwhile,Open-Air Lifestyle Centers had the largestshare of late visits 22.3%of traffic to Open-Air Lifestyle Cen

19、ters was between 7 PMand 10 PM,compared to just 17.3%of evening visits for Indoor Malls and 13.6%ofvisits for Outlet Malls.Open-Air Lifestyle Centers also had the lowest relative share of 2023 Placer Labs,Inc.|More insights at placer.ai|4weekend visits,which may indicate that consumers turn to visit

20、 these formats formore routine afterwork recreation rather than for weekend outings.Differences in Visitor JourneyConsumers dont just visit the different types of malls during different times and ondifferent days of the week they also often arrive at the various types of malls fromdistinct places.Ma

21、ll-goers tend to arrive at Indoor Malls and Open-Air Lifestyle Centers directly fromhome,while Outlet Malls see a relatively high proportion of visitors coming fromdining venues perhaps shoppers make more pit stops during the longer drive.Outlet Malls also see more visits coming from other shops and

22、 services(such as petstores and car shops),perhaps because consumers take advantage of the longerdrive Outlet Malls to run other errands on the way.This is also an indication of one ofthe strengths of Indoor Malls and Open-Air Lifestyle Centers as these formats bringthose shops and services and dini

23、ng options into one unified experience.2023 Placer Labs,Inc.|More insights at placer.ai|5Seasonal Visitation PatternsVisits to the different mall types also follow different seasonal patterns although allfour categories saw their 2022 weekly visits peak in December.Outlet Malls had more traffic peak

24、sthroughout the year than the other formats another indication of the added allure ofOutlet Malls when there is time on hand.Visitation patterns to Outlet Malls were the most volatile,with traffic peaking not justover Black Friday and during the holiday shopping season,but also between mid-Julyand m

25、id-August for Back to School shopping another indication of the added allureOutlet Malls have when there is time on hand.Meanwhile,Grocery-AnchoredShopping Centers expectedly had the most stable seasonal pattern,with the onlymajor peaks taking place the week of Thanksgiving and the week before Chris

26、tmas perhaps driven by home cooks prepping for big family dinners.2023 Placer Labs,Inc.|More insights at placer.ai|6Indoor Malls and Open-Air Lifestyle Centers also exhibited relative seasonal stability,without any major peaks between January and October 2022.Visits to both categoriesthen surged the

27、 week of Black Friday and the weeks surrounding Christmas.Thespikes were more pronounced for Indoor Malls,which may be more conducive tomission-driven holiday shopping.Outlet Malls See Largest Black Friday BoostComparing Black Friday visits to different types of malls in 2019,2021,2022 revealsthat w

28、hile the day may have lost some of its centrality the retail holiday stillmanages to drive visit peaks to the sector.Outlet Malls in particular seem to benefit from the day,perhaps thanks tobargain-hunters looking to take advantage of the double markdown of Black Fridaypromotions on top of already d

29、iscounted outlet prices.2023 Placer Labs,Inc.|More insights at placer.ai|7Indoor Malls also received a significant Black Friday traffic bump,while Open-AirLifestyle Centers received a more moderate boost.Grocery-Anchored ShoppingCenters saw the smallest spike during the week of Black Friday,with at

30、least some ofthe already-small increase likely due to a grocery-led Turkey Wednesday bump ratherthan to shoppers looking for post-Thanksgiving deals.Diving Into Indoor Malls and Grocery-AnchoredShopping CentersIndoor Malls were deeply impacted by the COVID closures,while Grocery-AnchoredShopping Cen

31、ters benefited from their anchors“essential business”status and fromthe pandemic grocery boom and continued to draw visits.Now,with inflation havingreplaced COVID as consumers primary concern,we dove into the data to betterunderstand where the Indoor Mall and Grocery-Anchored Shopping Center sectors

32、stand today.2023 Placer Labs,Inc.|More insights at placer.ai|8Indoor Malls the Strong Get StrongerAs overall mall traffic continues its recovery trajectory,some malls are still succeedingin standing out from the pack and many of these top malls are seeing an increase inboth visit numbers and visit l

33、ength.Analyzing 2022 visit data for the 100 malls in Placer.ais Indoor Mall Index reveals apositive correlation between annual visit volume and median dwell time.For example,the Mall of America,Westfield Valley Fair,and Westfield Topanga all saw higher visitnumbers and longer visit durations than th

34、e Indoor Mall Index average of 9.1 millionvisits and 58 minutes of median visit duration.Analyzing data Placer.ais Indoor Mall Indexreveals a positive correlation betweenannual visit volume and median dwell time.The fact that the more popular malls also tend to have longer visit durations mayindicat

35、e that those malls are offering a particularly attractive and generally holisticexperience that draws in more visitors and invites them to stay longer.This is likely 2023 Placer Labs,Inc.|More insights at placer.ai|9driven by a wider shift to broaden tenant mix to create a more comprehensive,dayaway

36、 experience.Grocery Stores Drive Shopping Center VisitsWhile some malls are leaning on unique experiential offerings to attract visitors,othershopping centers are counting on their anchor tenants to drive visits but the anchoroften looks different than a couple decades ago.Grocery stores as mall anc

37、hors arenothing new,but the trend has accelerated recently thanks to the strength of thegrocery category over the past couple of years.Location intelligence suggests that grocerys success is helping Grocery-AnchoredShopping Centers stay ahead of more traditional Open-Air Lifestyle Centers.BetweenJul

38、y 2022 and February 2023,Grocery-Anchored Shopping Centers outperformedOpen-Air Lifestyle Centers on a Yo3Y basis,perhaps thanks to the strong visit trendsin the wider Grocery category.2023 Placer Labs,Inc.|More insights at placer.ai|10More Repeat Visits at Grocery-Anchored Shopping CentersAnd groce

39、ry anchors arent just driving visits to shopping centers theyre alsoincreasing visit frequency.Analyzing February 2023 data indicates that the share of repeat visitors wassignificantly higher for four leading Grocery-Anchored Shopping Centers than for thewider Open-Air Lifestyle Center sector.The la

40、rger share of repeat visitors could beattributed to consumers visiting these centers on routine grocery runs and stoppingby additional stores or dining venues in the center along the way.Regional Differences Across Shopping CentersSo far,our analysis focused on venues included in the Placer.ai Mall

41、Indexes top-tierIndoor Malls,Open-Air Lifestyle Centers,Outlet Malls,and Grocery-AnchoredShopping Centers.But the shopping center space also includes“B”malls,strip malls,and a wide variety of other types of local and regional shopping centers that play animportant role in shaping the industry.So to

42、adopt a wider lens,we looked at visittrends for the Placer.ai Shopping Center Industry,which analyzes thousands ofshopping centers or all types of sizes throughout the country.2023 Placer Labs,Inc.|More insights at placer.ai|11How is Inflation Impacting Visits to Shopping Centers Across Regions?Whil

43、e visits to Shopping Centers nationwide dipped 3.1%in February 2023 relative toFebruary 2022,some states saw statewide Shopping Center visits increase on a YoYbasis.And comparing YoY traffic and inflation indicates a correlation between stateswith lower-than-average inflation and states with stronge

44、r-than-average visit trends.Comparing YoY traffic and inflationindicates a correlation between states withlower-than-average inflation and stateswith stronger-than-average visit trends.In Vermont,for example,where February 2023 YoY inflation stood at 5.1%,statewidevisits to Shopping Centers increase

45、d 6.2%in the same period.And many states withhigh inflation are seeing relatively large visit gaps for example,Utah had a 6.7%inflation rate in February 2023 and an 11.0%drop in Shopping Center visits.2023 Placer Labs,Inc.|More insights at placer.ai|12Did Regional Car Culture Impact Shopping Center

46、Performance in 2022?A shopping centers region determines not just the impact inflation is having on itsvisitors budgets it can also affect its trade area size.Different metro areas tend tohave different car cultures due to differences in urban planning,publictransportation,sprawl,gas prices,and a ho

47、st of other factors that determine how farmost people drive to work,school or the mall.An analysis of 16 major metro areas throughout the country with trade areas rangingfrom over 150 square miles to 68.7 square miles reveals an interesting correlationbetween trade area size and COVID visit recovery

48、.Shopping centers in CBSAs with larger trade area sizes tended to have lower Yo3Yvisits than Shopping Centers in CBSAs with smaller trade area sizes.Shopping Centersin the Detroit-Warren-Dearborn CBSA,for example,had a trade area size of 153.7square miles,on average,and saw a 10.2%decrease in Yo3Y v

49、isits in 2022.Meanwhile,Shopping Centers in the Boston-Cambridge-Newton CBSA,with theiraverage trade area size of 81.2 square miles,saw 0.4%more visitors in 2022 than in2019.Perhaps the high gas prices of 2022 kept some visitors from driving to furtherShopping Centers.2023 Placer Labs,Inc.|More insi

50、ghts at placer.ai|13Malls Continue to Draw in VisitorsAlthough the role of malls has shifted over the past decades,shopping centerscontinue to play a key role in the American retail landscape,with different types ofcenters serving different purposes.Indoor Malls,Outlet Malls,Open-Air ShoppingCenters

51、,and Grocery-Anchored Shopping Centers all perform a specific function inconsumers shopping and recreation routine and display specific visitation patterns.As the wider retail space adapts to changing consumer behavior,the role of shoppingcenters may shift further.But if the past couple of years are

52、 any indication,malls areunlikely to become obsolete any time soon.Instead,shopping centers will continue toevolve along with the American consumer to maintain relevance in 2023 and beyond.Key Takeaways1.Regional Inflation correlates with Shopping Center visit trends:Comparing statewide year-over-ye

53、ar(YoY)Shopping Center traffic and inflationindicates that states with lower-than-average inflation are also experiencingstronger-than-average YoY visits to their Shopping Centers.The impact onvisits indicates that a dissipation of inflationary impact could signal a rapid risein consumer foot traffi

54、c.2.The different shopping center types have different COVID recovery rates:Although year-over-three-year(Yo3Y)visit gaps for all four shopping centersegments analyzed have narrowed below 10%,Grocery-Anchored ShoppingCenters have seen Yo3Y visit growth,while Outlet Malls saw visit gaps bothYo3Y and

55、YoY.Indoor Malls and Open-Air Lifestyle Centers,meanwhile,sawpositive YoY visit trends coupled with Yo3Y dips.The relative strength,especially in the face of significant economic headwinds is noteworthy and actsas the latest signal of the growing power of top performers in these spaces.3.The differe

56、nt shopping center types have different visitor journeys anddifferent hourly and daily visit distribution patterns:Indoor Malls,Open-Air Lifestyle Centers,and Outlet Malls appear to serve differentpurposes in consumers shopping and recreation routines.Outlet Malls seemore early afternoon and weekend

57、 visits,while Open-Air Lifestyle Centers see 2023 Placer Labs,Inc.|More insights at placer.ai|14more evening and weekday visits.Outlet Malls also see the greatest share ofvisitors coming from dining venues and from specialty retailers and serviceproviders.4.The different shopping centers types have

58、different seasonal visitationpatterns:All four shopping center segments saw their weekly visits peaks overBlack Friday and during the holiday season,although Grocery-AnchoredShopping Malls saw the smallest spikes.Outlet Malls received an additionalboost during the summer Back-to-School shopping seas

59、on.5.Different opportunities define the roads forward for each shoppingcenter type:By understanding regional trends,format based behaviors andmore,shopping center owners can better optimize their fleet to drive successand meet shifting consumer demands.6.Grocery anchors likely drive more shopping ce

60、nter visits:Grocery-Anchored Shopping Centers are experiencing a stronger Yo3Yrecovery than Open-Air Lifestyle Centers,and several shopping centers withgrocery stores also seem to see a larger share of repeat monthly shoppers.There is a likely benefit from their suburban orientation,but the ability to drawregular visits represents an ongoing strength for these centers.2023 Placer Labs,Inc.|More insights at placer.ai|15