Mall Traffic Steadily Returning
New York, NY, April 27, 2021-Vaccinated shoppers are heading back to the mall, offering hope that the worst of the pandemic downturn is over for this beleaguered industry, reports the Wall Street Journal.
“Foot traffic at a representative sample of 50 malls in March was up 86% from the same month last year, according to mobile-device location data from analytics firm Placer.ai.
“While that foot traffic was 24% lower than in March 2019, mall owners are suggesting that their business has turned a corner. Shoppers are eager to get out again, often armed with cash from the latest round of government stimulus checks. Many aren’t just browsing shops but dining out and returning home with bags full of new purchases.
“The budding rebound in the mall industry echoes progress made by other types of real estate, such as hotels, that were upended by the pandemic. But shopping centers and lodging have been on the mend since the Covid-19 vaccine rollout and the recent reopening of much of the U.S. economy.”