Shoppers Spend Less Time and More Money at Malls
By George Anderson
Consumers are making fewer trips to go shopping at the mall, but when they go, says a new report from the International Council of Shopping Centers (ICSC), they are spending more money.
According to the ICSC’s figures, as reported by the Chicago Sun-Times, shoppers made an average 2.9 visits a month to the mall in 2004, spending $86.30 per trip.
As might be expected, teenagers visit the mall more often and spend the most time when they are there.
Interestingly, men go to the mall more often than women, although females tend to be there longer when they make the trip.
Various other findings analyzed by demographic distinctions show Latinos spending the longest time in malls. Consumers in this group are also the biggest spenders in department stores, specialty stores and restaurants located in malls.
Older consumers tend to gravitate towards department stores. According to the ICSC, shoppers 45 to 64 have the greatest percentage of shoppers who prefer to department stores.
Sixteen percent of consumers who go to the mall do not go there to shop. Instead, their trip is for entertainment purposes, such as going out to see a movie.
Moderator’s Comment: As someone (theoretically) operating a store in a mall, what do you takeaway from the latest research from the ICSC?
This from the Chicago Sun-Times: “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.” –
George Anderson – Moderator