BY SANDRA GUY Business Reporter
Chicago Sun-Times
Shoppers are making fewer visits to malls, but they're spending more per trip, according to a report released Tuesday.
The findings confirm analysts' mixed outlook for traditional shopping malls anchored by department stores, but offer insights into keeping loyal shoppers. The results were tallied before recent spikes in gasoline prices.
The number of visits shoppers made in 2004, the latest data available, is the lowest since the research began 10 years ago, according to the International Council of Shopping Centers, which compiles the data.
Shoppers made 2.9 visits a month, or about 35 trips each year, in 2004. That compared with 3.4 visits a month in 1998-99, the highest in the survey history.
They spent $86.30 per visit, the highest amount so far. That compared with the previous high of $83.30 in 2003.
The survey showed that teen-agers indeed visit the mall more than anyone else -- four times a month -- and stay the longest. Surprisingly, men visit malls more often than women, but women stay longer.
Other findings:
-- Latino shoppers spend the longest time in the mall, and spend the most money at department stores, mall shops and restaurants.
-- Contrary to some analysts' dreary outlook on department stores, the data showed shoppers spent the most money in the survey's history at department stores and mall shops.
-- Department stores are most popular among shoppers 45 to 64 years old.
-- Sixteen percent of people in the mall were there solely to go to the movies or a special event, rather than to shop.
Some retail experts believe that department stores will split into two types -- big national chains such as Macy's, J.C. Penney and Sears, and upscale stores in niche markets, such as Nordstrom, Neiman Marcus and perhaps Saks Fifth Avenue.
They call it the "supersize or specialize" model of 21st century retail success.
Honestly? I think it's all about the food court, and that giant tv from comcast viewing star wars and other favorites.
ReplyDeleteNobody's shopping; everybody's posing. Those middle kiosk's probably do as well as everybody else, since they prey on the 2-second, non-committal shopper more forceably than the adjoining stores....... but I could be wrong.
I like: "men visit more often, but women stay longer." The porn industry would have a field day with that one .... not that there's anything sexual about visiting the mall... no way, not even. .....shut up!!!
The food court is the heart of the modern mall, to be sure. In the last few malls I've been to, it's the place with the highest traffic count and and the great amount of participation.
ReplyDeleteThose little carts are like crack dealers. The rent's almost as high as inline spaces, so the people who run them are always on your ass tying to get you to buy their "miracle from the dead sea" or computer or whatnot.
Men do show up there more. Mostly to malls with food, video game stores, and sneaker stores. We also go to check out girls, who are apparently cleaning up at Charlotte Russe or The Gap when they occasionaly come out to the mall.
The hook-up is possible at the mall, but I'm not as lucky in that regard. I mostly leave with bags. Shopping bags that is.