Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In
Retail

Placer.ai Mall Indexes - August 2022 Recap

We looked at August data to see if back-to-school could provide a foot traffic boost to malls, which experienced visit declines in June and July.

By 
Ethan Chernofsky
September 6, 2022
Placer.ai Mall Indexes - August 2022 Recap
SHARE
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
Key Takeaways

About the Placer.ai Mall Indexes: These Indexes analyze data from more than 100 top-tier indoor malls, 100 open-air lifestyle centers (not including outlet malls) and 100 outlet malls across the country, in both urban and suburban areas. Placer.ai uses anonymized location information from a panel of 30 million devices and processes the data using industry-leading AI and machine learning capabilities to make estimations about overall visits to specific locations. 

The lingering challenges posed by inflation and high gas prices made a demonstrable impact on the mall sector throughout the summer. After experiencing a steady run of consistent year-over-year (YoY) growth, the Placer.ai Mall Indexes saw visits down across indoor malls, open-air lifestyle centers and outlet malls segments in June and July.

Yet, there was optimism that a more favorable YoY comparison and an improving retail environment could buoy the segment at the end of the Back-to-School season. So how did malls perform in August 2022?

Continued Declines

The indoor mall and open-air lifestyle centers indexes both saw increases in the visit gap when looking at visits compared to 2021. The indoor mall gap increased by 1.1% between July and August, while the gap for open-air lifestyle centers increased by 0.9%. This shows the ongoing effects of wider economic headwinds and the limitations they have placed on retail visits, but also the unique strength of the brick and mortar retail environment in 2021 that serves as the comparison.

On the bright side, the YoY visit gap for outlet malls declined by 1.1%, the first positive movement for this segment since April 2022. The shift serves as the latest indication that the ongoing impact of high gas prices could be dissipating – an effect that had a particular impact on outlet malls. 

In addition, foot traffic declines for indoor malls and open-air lifestyle centers also require context. The difficult comparison to a uniquely strong 2021 alongside the unique challenge of facing a variety of economic headwinds were always going to present a significant obstacle for August 2022 visit numbers. However, even with those issues, visits were only down 4.3% and 2.3% for the two formats respectively – a sign of continued relative strength, especially when comparing to certain retail segments that were traditional mall anchors. This indicates that steps malls have taken to diversify their tenant mix and push for more experience and dining oriented options are resonating with audiences.

Signs of a Rebound

And while the monthly view paints a picture of overall struggles, diving into a weekly view indicates a far more positive situation. All three segments ended August on a high note.

On the week beginning August 22nd, indoor malls and open-air lifestyle centers had their strongest week compared to 2021 since the week beginning June 27th, with visits to open-air lifestyle centers up 3.0% YoY. Outlet Centers – which saw visits down just 0.5% that week – showed its strongest YoY performance since the week beginning April 18th. 

With Labor Day weekend ahead and the three mall segments all trending in the right direction, there is real reason for optimism. The sector could be en route to a recovery from the unique effects of the economic headwinds that have limited retail performance in 2022. The timing, ahead of a critical holiday retail season, could mean that malls and their tenants end 2022 on a high.

How will malls end 2022? Visit Placer.ai to find out. 

Learn how downtown regions across US cities are measuring up with our free tools.
Check out the latest trends for
No items found.
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
SHARE
Get 3 brand & industry
breakdowns every week
Subscribe to the newsletter
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.

Recent Publications

Get 3 brand & industry breakdowns every week

Subscribe to the newsletter
Text Link
Indoor Malls
Text Link
Outlet Malls
Home Depot and Lowe’s Heading Into the Holidays
Starbucks and Dutch Bros: Short Visits Lead the Way
Planet Fitness: Raising the Bar(bell)
Checking in With Full-Service Restaurants: First Watch, Chili’s, and Outback Steakhouse
RBI and Yum!: QSR Resilience in 2024
Boot Barn and DSW: Stepping Up Their Game
Target’s October Circle Week: A Data-Driven Snapshot
Chipotle, Shake Shack & Wingstop: Dining Success in Q3 2024
Playa Bowls and Tropical Smoothie Cafe: Berry Big Business
Cheesecake Factory & BJ’s Restaurants: Full-Service Success
Checking in on McDonald's and Wendy's 
Sprouts Farmers Market: A Specialty Grocer With a Traditional Twist
CAVA: The Craze Continues
Placer.ai Reaches $100M Annual Recurring Revenue
Catching Up With Carter's 
A Texas Roadhouse and LongHorn Steakhouse Showdown
Placer.ai Mall Index: September 2024 Recap – Labor Day Peaks and Holiday Season Predictions
Albertsons Q3 Check-In
Looking Ahead to the 2024 Holiday Season
Trader Joe's: Continuing to Thrive in 2024
Bowlero and AMF: A Ten-Pin Knockout
Recreational Retail: Store Performance in 2024
Placer.ai White Paper Recap – September 2024
A QSR and Fast-Casual Face-Off
Sam’s Club’s In-Store Retail Media Network Opportunity
The Rising Stars: Six Metro Areas Welcoming Young Professionals
Costco in 2024: A Deep Dive
Sherwin-Williams in 2024: Brighter Than a New Lick of Paint
Life Time and Orangetheory: Premium Fitness Flourishing
C-Stores: More Than A Pit Stop
Darden: Dining Dominance Undeterred 
Placer 100 Index for Retail and Dining: August 2024 Recap
Placer.ai Office Index: August 2024 Recap
Placer.ai Mall Index: August 2024 Recap – Back-To-School In Full Swing
Auto Parts Retailers: The Traffic Continues
Pumpkin Spice Works its Magic Once Again
School Season Sparks Retail Growth
Placer.ai White Paper Recap – July & August 2024
Big Lots’ Big Rightsizing Move in Four Data Points
Fun Away From The Sun: Checking in With Eatertainment
Domestic Migration and Population Growth: Strong Currents Off The Carolina Coast
The Civic Impact of Summer Events
Retail Trends in College Towns: A Back-to-School Snapshot
Five Below and Ollie’s Bargain Outlet: Consumers Still on the Hunt for Discounts
Macy’s & Bloomingdale’s: Into 2024 and Beyond
Limited Time Only: The Trend Continues
Beauty in 2024: Many Ways to Win
Dollar General & Dollar Tree: Powering Ahead in Q2 2024
The Home Depot and Lowe's Foot Traffic Remodel in Q2 2024
Superstore Update: Summer Savings Spree
Placer.ai Mall Index: July 2024 Recap – From Fourth of July to Back-to-School
Placer.ai Office Index: July 2024 Recap
Summer Movie Madness: Blockbuster Films Boost Foot Traffic
Driving Success: Toyota in 2024
Denny’s and IHOP: An All-Day Breakfast Matchup
Warby Parker: Seeing Clearly Now
Planet Fitness at the 2024 Halfway Point
Serving Summer 2024: RBI and Yum! Brands Q2 Foot Traffic
Starbucks, Dutch Bros., Dunkin’: Finding Summer Success
Fast Food and Fast Casual Favorites, Plus CosMc’s Takeoff
Chipotle and Sweetgreen: Fast-Casual in Q2 2024
First Watch, Texas Roadhouse, and Applebee’s: An FSR Roundup
Albertsons Companies: H1 2024 Recap
Teaming Up For Success: Sports Stadium Sponsorships
Limited Time Offers: Price Wars Boost Visits
Placer 100 Index for Retail & Dining: June 2024 Recap
Placer.ai Mall Index: June 2024 Recap
Placer.ai Office Index: June 2024 Recap
Inside Out 2: The New Blockbuster Bringing Crowds Back to Theaters
Petco and PetSmart: A Head to Head
Frozen Delights: Exploring Ice Cream Chains Across America
Placer.ai White Paper Recap – June 2024
Barnes & Noble: Writing a New Story
Small Format Stores - Sprouting, Blooming, and Expanding
Retail and Dining on Father’s Day
Thrift Store Visit Scores
Charting Value Grocery’s Visit Growth
Placer 100 Index for Retail & Dining: Introduction and May 2024 Recap
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024
Placer.ai Mall Index: May 2024 Recap – Mall Visits on the Rebound
Placer.ai Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In
Placer.ai Office Index: April 2024 Recap – Recovery Continues