Experiential tenants are increasingly breathing life into a resurgent retail sector as consumers venture out to dine, socialize, and work out in person, with traffic to experiential destinations like bars, theaters, and entertainment attractions ticking up by 40% year-over-year in 2022.

These experiential concepts — which run the gamut from large fitness centers to adventure and sensory experiences like American Ninja Warrior in Santa Ana, Calif.'s MainStage Mall — are also a boon to adjacent retailers, according to analysts from JLL. Data from Creditntell shows that a retailer in a shopping center or mall that also has a fitness center gets 2.5% more visits than it does in a center without a fitness tenant.

"We predict that average shopping budgets will remain intact this year, despite inflation. In fact, if inflation continues its downward trend we may see consumers spending even more than they did last year," says Keisha Virtue, a senior retail research analyst at JLL. "Barring any major shocks, it's fairly certain that consumers will do more dining out, entertainment activities and traveling than in 2021."