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Consumers are returning to shopping malls across the country, showing that the worst of the recession caused by the Covid pandemic – 09 has passed for this retail industry.
I agree with a study by the firm Placer.ai, the mobility of people in 50 shopping malls in March increased by 86% compared to the same month last year.
Although that movement was 24% lower that in March of that your business has turned upside down . Buyers are eager to get out again.
This has a lot to do with the giving of stimulus checks. Many not only look for stores, but go out to dinner and return home with bags full of new purchases .
“There is no doubt that things are better. Sales are also better than expected four months ago, ”said Bill Taubman, president and chief operating officer of Taubman Co.
Simon Property Group Inc. shares, who recently acquired Taubman, raised a 45% this year. That’s more than three times this year’s gain on the S&P 500.
The looming rebound in the shopping center industry echoes the progress achieved by other types of real estate , such as hotels , which were disrupted by the pandemic.
But shopping malls and accommodation have been improving since the launch of the Covid vaccine – 19 and recent reopening of much of the US economy .
Some retailers and restaurants saw big sales spikes on Valentine’s Day, so they said they expect consumer interest persists during the summer .
Still, the recovery of shopping centers seems uneven l. Shopping centers in places with an overabundance of stores and limited population growth are likely to continue to struggle.
Mall retailers have also not benefited equally from the increase. of the traffic. Customers spend more on casual wear, accessories, jewelry and watches, analysts say.
But sales of men’s formal dresses and suits have lagged behind , and Few people have big weddings or return to the office full time.
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