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: December 2022 Recap

We take a look back at 2022 data to understand how malls of all kinds - indoor, open-air, and outlet - closed out the year and what lies ahead for 2023.

By 
Ethan Chernofsky
January 5, 2023
Placer.ai Mall Indexes: December 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. 

Last year (2022) marked a significant opening up of retail as the wider landscape enjoyed the first true post-pandemic period. Yet, the upside of finally moving beyond pandemic-driven limitations was quickly offset by a myriad of economic challenges including inflation and high gas prices.

Analyzing our Mall Indexes over the past year has shown the impressive resilience of top-tier malls across the three sub-segments throughout the year. But with the holiday season now in the rear view, we dove into the 2022 data one last time to understand how malls closed out the year and what it could mean for their potential in 2023.

Holiday Peaks, Challenging Comparisons

While holiday visits were clearly limited across segments when looking at visits year-over-year (2022 vs 2021) or compared to pre-pandemic, the holiday season peaks were still significant. Visits on the week of Black Friday rose high above the annual average with outlet malls seeing their strongest visit week of the year. Indoor malls and open-air lifestyle centers also saw strong visits that week, though the final week of December actually brought in more overall visits for both segments. 

And the impact of these final weeks was indeed significant. 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 (MoM). 

December’s relative is significant as the month marked the clear visit high points for all three segments – indicating the ongoing importance of the holiday season. Essentially, while the absolute visits declined, the relative importance of the holiday period to mall and retail visits remained hugely important.

While the relative importance of this period remained, there were still visit declines in December. Visits for indoor malls, open-air lifestyle centers, and outlet malls were down 8.2%, 6.2%, and 5.6%, respectively, compared to pre-pandemic 2019 and down 2.7%, 3.9% and 4.5% YoY. 

Yet, the declines – both YoY and compared to 2019 – shrunk in December when compared to November. Compared to 2021, there was a 4.3% decrease in the YoY visit gap for indoor malls between November and December, while open-air lifestyle centers and outlet malls saw their visit gaps shrink by 1.5% and 3.7%, respectively. And this relative improvement looks likely to continue - not to mention the boost considering returns could be higher than normal.

Foundation for a Strong Start to 2023

One of the key trends called out in our 2023 Retail Trends Forecast white paper was the potential for very strong YoY results in brick-and-mortar retail in Q1. This was due to the ongoing recovery, the potential for declining economic headwind effects and, most importantly, the comparison to an Omicron-hampered January and February of 2022. 

The earliest results from 2023 indicate that this could be even more significant than expected. Visits the week beginning December 25th were up 12.3% YoY for indoor malls and up 9.1% and 10.6% for open-air lifestyle centers and outlet malls, respectively. The aforementioned factors alongside a Christmas week that featured a more extended shopping opportunity – the holiday itself fell on the weekend, meaning days off were on non-holiday days – combined to drive major visit jumps across these segments.

And it wasn’t just the visits, but the increases in repeat visits that grew. The clear effect was that audiences weren’t just shopping again, but were increasing their rate of visits, an incredibly positive sign amid lingering economic challenges.

Will malls kick off 2023 with an extended surge amid a more positive environment? 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
Black Friday
Text Link
Outlet Malls
Five Below and Ollie’s Bargain Outlet: A Pre-Holiday Snapshot
Kroger: Getting into The Seasonal Swing 
Avison Young Launches Office Busyness Index Powered by Placer.ai to Provide Unmatched Insights on Office Utilization Across Major U.S. Markets
Off-Price Ahead of the 2024 Holiday Season
A Beautiful Season Ahead: Ulta and Sally Beauty Supply
Sportswear Ahead of the 2024 Holiday Season 
Placer 100 Index: October 2024 Recap 
Placer.ai Office Index: October 2024 Recap
Placer.ai Mall Index: October 2024 Recap 
Halloween’s 2024 Retail & Dining Impact – Party City Carries the Season
Checking in With Department Stores: Nordstrom and Macy’s
Superstores and Wholesale Clubs Ahead of the Holidays
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