Top-tier malls experience steady recovery since the start of 2021
Top-tier malls across the country have been experiencing a steady recovery since the start of 2021. The recovery culminated in July when visits to indoor malls rose 1 percent above the same month in 2019, with outdoor mall visits rising 1.8 percent, according to data by Placer.ai. Pent-up demand, a lack of travel, general excitement around the retail reopening and the back-to-school retail season combined to drive an impressive month.
Looking at the Mall Index through September showed a further expansion of the visit gap, with indoor malls down –6.5 percent compared to September 2019 and outdoor malls down –5.2 percent. Rising COVID cases and the end of the unique confluence of factors that drove the summer visit surge all came together to expand the visit gap.
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