Malls are experiencing something of a renaissance after struggling through the pandemic. Shopping centers across the country are thriving again as they reinvent themselves into places where people can hang out, shop and grab a bite to eat, according to a Placer.ai analysis.
The impetus behind this resurgence is a shift in how malls view anchor tenants, those destinations that drive steady visitation and provide smaller tenants with a constant flow of potential customers. Traditional anchors like Macy’s and JCPenney are still important, but restaurants, fitness centers and immersive ‘retailtainment’ destinations are increasingly driving visits and sales.
Take, for example, the addition of a Scheels location to Towne East Square Mall in Wichita, Kansas. Scheels combines traditional retail with immersive experiences, which is effective at drawing visitors from greater distances. Placer.ai noted a surge in visits to the mall after the location opened in 2023, with 42% of the mall’s customers traveling more than 40 miles to visit, compared with 36% in 2018 when Sears occupied that spot.
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Niche concepts also can be effective at delivering anchor-level traffic, said the analysis. Barnes & Noble at Coronado Center in Albuquerque accounted for 7.9% of visits to the mall in 2024, outperforming both Macy's and JCPenney. This buoyed traffic throughout the center, bringing in a more affluent audience with greater spending power than traditional department store anchors, said the report.
Like bookstores, dining chains can also be effective at attracting crowds that are disproportionate to their square footage. In-N-Out Burger at Glendale Galleria, for example, drew 8.6% of visits to the mall complex last year, which outpaced official anchors, although the onsite Target drew even larger crowds at 14.4% of visits. Similarly, Porto’s Bakery and Cafe captured 15.6% of visits to the Northridge Fashion Center complex in 2024, more than some of the center’s traditional department stores.
These trends suggest an evolving mall anchor profile that considers actual foot traffic contributions and unique visitation patterns, said the analysis. Seasonal factors can make certain anchors more powerful at different times of the year, while some venues are strong on particular days of the week. For example, at a mall in Iowa, Scheels drew bigger crowds on weekends while Costco was the center’s primary weekday destination.
“Understanding differences like these can help operators optimize their tenant mix to maintain a balanced flow of shoppers throughout the week,” said Placer.ai.
Traffic can even fluctuate through the day, as evidenced by malls with fitness centers as experiential anchors. Many people work out in the morning, which can have a significant impact on the distribution of mall visits throughout the day. This may encourage malls to adjust opening hours to accommodate early-morning patrons and capitalize on relevant tenants, including health-focused retailers and sporting goods stores.
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Kristen Smithberg
Kristen Smithberg is a Colorado-based freelance writer who covers commercial real estate, insurance, benefits and retirement topics for BenefitsPRO and other industry publications.
