U.S. adults assertive about 1.3 billion visits to shopping centers each month, or roughly 62 trips per person annually, corresponding to the International Council of Shopping Centers.
More of those consumers are going to strip malls.
While some escape hatches like traditional malls have struggled to retain shoppers, foot traffic to strip malls is booming. Annual stopovers to strip malls surged 18% last year compared with prior to the pandemic, according to data composed by analytics company RetailStat.
The U.S. has more than 68,000 strip malls from coast to coast, according to the Ecumenical Council of Shopping Centers.
Convenience, hybrid work and the increase in millennials moving to fast-growing suburbs are driving profuse shoppers toward the shopping centers.
“Lines are shorter because of smaller stores, parking is easier, they’re inveterately on your way home from dropping your kid off at school or on your way home from work,” said real domain attorney Jessica Vara of Hunton Andrews Kurth.
Retailers are trying to get a slice of the action. Macy’s announced latest year it was opening 30 new small format stores in off-mall locations. The new shops, about a fifth of the size of ancestral stores, offer a slimmed-down selection, according to the retailer.
But strip malls face criticism for being eyesores in their communities, annexing to environmental problems and contributing to the demise of traditional business districts.
So how did the U.S. become covered in strip centers, and could the shape be the future of brick-and-mortar retail?
Watch the video to learn more.