Pre-Holiday Shopping Statistics Are Lazy – Connect CRE | Jobs Reply


Visits to shopping centers have shown a significant decline year-on-year, according to statistics released by Placer.ai. Metrix showed that inbound mall visits were down 6.4% year over year, while outbound mall visits were down 5.4%. Foreign stores showed the biggest decline, down 8.0%.

The report also noted that Black Friday “and the accompanying weekend” visits are down, especially compared to “pre-2019 and 2021 pandemics.”

“The previous premise of Black Friday was based on unique deals that could only be found on that given day and the culture of shopping on that day,” Ethan Chernofsky, vice president of marketing at Placer.ai told Connect CRE. “Although the latter trend remains, the rise of the early shopping season and many other ‘holidays’ at the same time reduce the demand for Black Friday shopping. Seen through this lens, the numbers posted on Black Friday actually seem impressive given the proliferation of non-Black Friday deal days. “

When asked about the mall’s year-over-year performance, Chernofsky cited high gas prices. “This is a limited need for the long journeys they often need,” he added. “Also, while inflation certainly benefits the value orientation that retail stores rely on, broader perceptions of restrictions on ‘deals’ can impact visitation.”

The news was not pleasant at all. November was the second month in a row for monthly visits to indoor malls, outdoor living spaces and shopping malls.

Chernofsky also hopes that December could see an overall increase in shopping mall visits, given the month’s typical historical strength. This may also be the case for those who “focus less on the largest audience, and instead target the right audience,” he said.

“This change enables shopping centers and supermarkets of all types to serve key groups,” Chernofsky continued. “The concept of audience targeting is important and will likely have an ongoing impact on everything from marketing to events, and pop-ups to supermarket launches.”



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