{"id":6929,"date":"2024-09-13T06:45:31","date_gmt":"2024-09-13T06:45:31","guid":{"rendered":"https:\/\/grabon.com\/blog\/?p=6929"},"modified":"2025-01-29T02:44:54","modified_gmt":"2025-01-29T10:44:54","slug":"us-shopping-mall-statistics","status":"publish","type":"post","link":"https:\/\/grabon.com\/blog\/us-shopping-mall-statistics\/","title":{"rendered":"State Of US Shopping Malls In 2024"},"content":{"rendered":"<p>Back in the 70s, approximately <b>37,000<\/b> malls across America grew into centers with food courts, movie theaters, and even ice-skating rinks. However, due to online shopping trends, malls have taken a hit and only around <b>1,150 malls<\/b> are left in the country.<\/p>\n<p>This mall crisis took another hit during the Covid-19 lockdown. Despite various challenges, the remaining malls are making a comeback. High-end malls have experienced a <b>12%<\/b> increase in visitors since the pandemic, while regular malls have seen a <b>10%<\/b> increase.<\/p>\n<p>Let's look at the state of malls in the US through numbers. We will shed light on the decline in the number of malls over the years and how the ones that remain now are doing to tackle the issue of closing malls due to less footfall.<\/p>\n<h2><strong>US Shopping Mall Statistics and Trends 2024 (Top Picks)<\/strong><\/h2>\n<ul>\n<li>There are around 1,150 shopping malls in the US as of 2024.<\/li>\n<li>Nearly 4 out of 10 Americans no longer visit shopping malls.<\/li>\n<li>Around 40% of US malls had a 10% vacancy rate even before COVID-19.<\/li>\n<li>Foot traffic has increased by 12% in top-tier malls and 10% in lower-tier malls post-pandemic.<\/li>\n<li>Ala Moana Center in Honolulu, Hawaii, is the busiest shopping mall, attracting around 52 million visitors annually.<\/li>\n<\/ul>\n<h2><b>How Many Shopping Malls Are There In The US?<\/b><\/h2>\n<p>There are around <a rel=\"nofollow\" href=\"https:\/\/capitaloneshopping.com\/research\/mall-closure-statistics\/\"><b>1,150 malls in the US<\/b><\/a> in 2024. Predictions suggest that by 2032, only about <b>150 malls<\/b> will still be operating. Mall vacancies have been at their highest since 2007 and increased due to COVID-19 lockdowns. More people are shopping online, and stores are closing down, including big ones that usually draw shoppers to malls.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6942 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA.jpg\" alt=\"Number of Malls in USA\" width=\"1748\" height=\"856\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA.jpg 1748w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA-300x147.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA-768x376.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA-1024x501.jpg 1024w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Number-of-Malls-in-USA-1536x752.jpg 1536w\" sizes=\"(max-width: 1748px) 100vw, 1748px\" \/><\/p>\n<h2><strong>Mall Traffic Statistics<\/strong><strong> <\/strong><\/h2>\n<p>The slow decline in the number of malls led to higher vacancy rates and lesser footfall. With fewer new malls opening, by 2020, <a rel=\"nofollow\" href=\"https:\/\/www.statepress.com\/article\/2023\/04\/death-of-mall-culture\">vacancy rates went above <b>6%<\/b><\/a>. There were fewer shoppers and malls, with over <b>5,000 stores<\/b> closing as mall-based retailers went bankrupt.<\/p>\n<p><b>4 out of 10<\/b> Americans no longer visit shopping malls.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6944 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/1.jpg\" alt=\"As of 2020, approximately 4 out of 10\" width=\"743\" height=\"369\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/1.jpg 743w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/1-300x149.jpg 300w\" sizes=\"(max-width: 743px) 100vw, 743px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/gitnux.org\/us-shopping-mall-statistics\/\">Gitnux<\/a><\/p>\n<p>While COVID-19 contributed to the mall traffic decline, even before the pandemic, nearly <b>40%<\/b> of shopping malls in the US had a <b>10%<\/b> vacancy rate, as shown below.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6934 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/u.s.-retail-market_-data-detail-vacancy-rate-mall-.jpg\" alt=\"u.s. retail market_ data detail - vacancy rate - mall ()\" width=\"1124\" height=\"976\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/u.s.-retail-market_-data-detail-vacancy-rate-mall-.jpg 1124w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/u.s.-retail-market_-data-detail-vacancy-rate-mall--300x260.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/u.s.-retail-market_-data-detail-vacancy-rate-mall--768x667.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/u.s.-retail-market_-data-detail-vacancy-rate-mall--1024x889.jpg 1024w\" sizes=\"(max-width: 1124px) 100vw, 1124px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.atlantafed.org\/economy-matters\/banking-and-finance\/2021\/05\/07\/commercial-real-estate-update-mall-vacancy-rates-keep-climbing?item=8c9bcc53-8be9-41ce-9a35-9f6046f1ad2d\">Atlanta Federal Reserve<\/a><\/p>\n<p>However, by 2022, more consumers were visiting malls, with <b>40.3%<\/b> reporting visits within just two weeks.<\/p>\n<p>Foot traffic increased by <b>12%<\/b> in top-tier malls and <b>10%<\/b> in lower-tier malls compared to 2019, indicating a significant recovery.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6939 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Change-in-Mall-Traffic-Compared-to-Pre-Pandemic-2019-Levels-.jpg\" alt=\"Change in Mall Traffic Compared to Pre-Pandemic 2019 Levels ()\" width=\"1124\" height=\"627\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Change-in-Mall-Traffic-Compared-to-Pre-Pandemic-2019-Levels-.jpg 1124w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Change-in-Mall-Traffic-Compared-to-Pre-Pandemic-2019-Levels--300x167.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Change-in-Mall-Traffic-Compared-to-Pre-Pandemic-2019-Levels--768x428.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Change-in-Mall-Traffic-Compared-to-Pre-Pandemic-2019-Levels--1024x571.jpg 1024w\" sizes=\"(max-width: 1124px) 100vw, 1124px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/coresight.com\/research\/the-state-of-the-american-mall-competitive-attractive-and-here-to-stay\/\">Coresight Research<\/a><\/p>\n<h3><strong>Trends In Mall Traffic And Visitor Behavior<\/strong><\/h3>\n<p>Mall traffic in March 2024 grew by <b>9.7%<\/b> for indoor malls, <b>10.1%<\/b> for open-air shopping centers, and <b>10.7%<\/b> for outlet malls compared to March 2023.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6935 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Visits-to-Malls-Positive-Across-Formats-For-Second-Month-in-a-Row.jpg\" alt=\"Visits to Malls Positive Across Formats For Second Month in a Row\" width=\"1124\" height=\"602\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Visits-to-Malls-Positive-Across-Formats-For-Second-Month-in-a-Row.jpg 1124w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Visits-to-Malls-Positive-Across-Formats-For-Second-Month-in-a-Row-300x161.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Visits-to-Malls-Positive-Across-Formats-For-Second-Month-in-a-Row-768x411.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Visits-to-Malls-Positive-Across-Formats-For-Second-Month-in-a-Row-1024x548.jpg 1024w\" sizes=\"(max-width: 1124px) 100vw, 1124px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.placer.ai\/blog\/placer-ai-mall-index-march-2024-recap---malls-rise-again\">Placer.ai<\/a><\/p>\n<h3><strong>Factors That Encourage People To Visit Malls<\/strong><\/h3>\n<p><b>1 in 4 people<\/b> who go to indoor malls like to eat at the mall. Additionally, around <b>20%<\/b> of indoor mall visitors also shop at other nearby stores.<\/p>\n<p>The presence of diverse shops and services near open-air shopping centers and outlet malls significantly encourages visits, with about <b>13%<\/b> of open-air shopping center visitors and <b>14%<\/b> of outlet mall visitors engaging with these offerings.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6936 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/34.jpg\" alt=\"Indoor mall index\" width=\"1124\" height=\"1074\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/34.jpg 1124w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/34-300x287.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/34-768x734.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/34-1024x978.jpg 1024w\" sizes=\"(max-width: 1124px) 100vw, 1124px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.placer.ai\/blog\/placer-ai-mall-index-march-2024-recap---malls-rise-again\">Placer.ai<\/a><\/p>\n<h2><b>Average Monthly Rent For <\/b><b>US<\/b><b> Shopping Malls<\/b><\/h2>\n<p>In the western states, the average rent for malls in the U.S. has reached <b>$26.84<\/b> per square foot. Between 2020 and 2024, the average monthly rent for shopping centers in the United States increased by approximately <b>17.89%<\/b>. This trend was seen across all regions, with the West having the highest rents at <b>$29 per square foot<\/b> in the first quarter of 2024.<\/p>\n<p>The table below shows the rising trend in average monthly rents for shopping centers across U.S. regions from 2020 to 2024 &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Year<\/strong><\/td>\n<td><strong>United States<\/strong><\/td>\n<td><strong>Northeast<\/strong><\/td>\n<td><strong>Midwest<\/strong><\/td>\n<td><strong>South<\/strong><\/td>\n<td><strong>West<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>2020<\/td>\n<td>$20.34<\/td>\n<td>$21.48<\/td>\n<td>$16.11<\/td>\n<td>$19.79<\/td>\n<td>$24.01<\/td>\n<\/tr>\n<tr>\n<td>2021<\/td>\n<td>$21.13<\/td>\n<td>$22.35<\/td>\n<td>$16.4<\/td>\n<td>$19.82<\/td>\n<td>$25.22<\/td>\n<\/tr>\n<tr>\n<td>2022<\/td>\n<td>$22.13<\/td>\n<td>$22.69<\/td>\n<td>$17.16<\/td>\n<td>$21.48<\/td>\n<td>$26.84<\/td>\n<\/tr>\n<tr>\n<td>2023<\/td>\n<td>$23.16<\/td>\n<td>$23.18<\/td>\n<td>$17.82<\/td>\n<td>$22.69<\/td>\n<td>$28.11<\/td>\n<\/tr>\n<tr>\n<td>2024*<\/td>\n<td>$23.98<\/td>\n<td>$24.21<\/td>\n<td>$18.26<\/td>\n<td>$23.3<\/td>\n<td>$29.01<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6941 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/More-us-marketers-use-instagram-reels-than-tiktok-for-influencer-marketing-1.jpg\" alt=\"More us marketers use instagram reels than tiktok for influencer marketing\" width=\"1132\" height=\"739\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/More-us-marketers-use-instagram-reels-than-tiktok-for-influencer-marketing-1.jpg 1132w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/More-us-marketers-use-instagram-reels-than-tiktok-for-influencer-marketing-1-300x196.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/More-us-marketers-use-instagram-reels-than-tiktok-for-influencer-marketing-1-768x501.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/More-us-marketers-use-instagram-reels-than-tiktok-for-influencer-marketing-1-1024x668.jpg 1024w\" sizes=\"(max-width: 1132px) 100vw, 1132px\" \/><\/p>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.statista.com\/statistics\/1200208\/asking-rent-shopping-center-real-estate-united-states\/\">Statista<\/a><\/p>\n<p>In 2024, the average monthly rent for shopping centers in top U.S. markets ranged from <b>$13 to $48<\/b> per square foot. In the first quarter, Hawaii had the highest rent at <b>$48.03<\/b> per square foot. Overall, the West region had the highest rents.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6937 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-monthly-asking-rent-for-shopping-center-space-in-the-retail-real-estate-market-in-the-US.jpg\" alt=\"Average monthly asking rent for shopping center space in the retail real estate market in the US\" width=\"1132\" height=\"1002\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-monthly-asking-rent-for-shopping-center-space-in-the-retail-real-estate-market-in-the-US.jpg 1132w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-monthly-asking-rent-for-shopping-center-space-in-the-retail-real-estate-market-in-the-US-300x266.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-monthly-asking-rent-for-shopping-center-space-in-the-retail-real-estate-market-in-the-US-768x680.jpg 768w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-monthly-asking-rent-for-shopping-center-space-in-the-retail-real-estate-market-in-the-US-1024x906.jpg 1024w\" sizes=\"(max-width: 1132px) 100vw, 1132px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.statista.com\/statistics\/1466582\/asking-rent-shopping-center-real-estate-united-states\/#:~:text=The%20average%20monthly%20asking%20rent,highest%20in%20the%20West%20region.\">Statista<\/a><\/p>\n<h2><b>Which<\/b><b> Is The Biggest Mall In The USA?<\/b><\/h2>\n<p>The Mall of America is the largest mall in the United States, covering <b>5.6 million<\/b> square feet and featuring over <b>520 retail stores<\/b>. The American Dream Mall is also notable, with <b>3 million<\/b> square feet of Gross Leasable Area (GLA) and over <b>450 retail stores<\/b>.<\/p>\n<p>Here is a table showing the biggest malls in the US:<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Mall Name<\/strong><\/td>\n<td><strong>Location<\/strong><\/td>\n<td><strong>Size (sq ft)<\/strong><\/td>\n<td><strong>Retail Stores<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mall of America<\/td>\n<td>Minnesota<\/td>\n<td>5.6 million<\/td>\n<td>520+<\/td>\n<\/tr>\n<tr>\n<td>American Dream<\/td>\n<td>New Jersey<\/td>\n<td>3 million<\/td>\n<td>450+<\/td>\n<\/tr>\n<tr>\n<td>King of Prussia Mall<\/td>\n<td>Pennsylvania<\/td>\n<td>2.793 million<\/td>\n<td>450<\/td>\n<\/tr>\n<tr>\n<td>Aventura Mall<\/td>\n<td>Florida<\/td>\n<td>2.7 million<\/td>\n<td>300+<\/td>\n<\/tr>\n<tr>\n<td>South Coast Plaza<\/td>\n<td>California<\/td>\n<td>2.8 million<\/td>\n<td>270<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/en.wikipedia.org\/wiki\/List_of_largest_shopping_malls_in_the_United_States\">Wikipedia<\/a><\/p>\n<h3><b>Largest Gross Leasable Area in US Malls<\/b><\/h3>\n<p>When it comes to the Gross Leasable Area (GLA), the American Dream Mall in New Jersey is the largest mall in the United States, boasting <b>3 million square feet<\/b>. Managed by the Triple Five Group, it exceeds the Mall of America, which, despite its larger total area of <b>5.6 million square feet<\/b>, has a retail space of <b>2.87 million square feet<\/b>.<\/p>\n<p>The below table features leading shopping malls in the US as of December 2023, ranked by Gross Leasable Area &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Mall<\/strong><\/td>\n<td><strong>Gross Leasable Area (GLA) in million square feet<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>American Dream (East Rutherford, NJ)<\/td>\n<td>3.00<\/td>\n<\/tr>\n<tr>\n<td>Mall of America (Bloomington, MN)<\/td>\n<td>2.87<\/td>\n<\/tr>\n<tr>\n<td>South Coast Plaza (Costa Mesa, CA)<\/td>\n<td>2.80<\/td>\n<\/tr>\n<tr>\n<td>King of Prussia Mall (King of Prussia, PA)<\/td>\n<td>2.67<\/td>\n<\/tr>\n<tr>\n<td>Del Amo Fashion Center (Torrance, CA)<\/td>\n<td>2.51<\/td>\n<\/tr>\n<tr>\n<td>Destiny USA (Syracuse, NY)<\/td>\n<td>2.40<\/td>\n<\/tr>\n<tr>\n<td>Roosevelt Field (Garden City, NY)<\/td>\n<td>2.35<\/td>\n<\/tr>\n<tr>\n<td>Ala Moana Center (Honolulu, Hawaii)<\/td>\n<td>2.27<\/td>\n<\/tr>\n<tr>\n<td>Millcreek Mall (Erie, PA)<\/td>\n<td>2.20<\/td>\n<\/tr>\n<tr>\n<td>Palisades Center (West Nyack, NY)<\/td>\n<td>2.20<\/td>\n<\/tr>\n<tr>\n<td>Woodfield Mall (Schaumburg, IL)<\/td>\n<td>2.15<\/td>\n<\/tr>\n<tr>\n<td>Aventura Mall (Miami Beach, FL)<\/td>\n<td>2.13<\/td>\n<\/tr>\n<tr>\n<td>The Galleria (Houston, TX)<\/td>\n<td>2.01<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.statista.com\/statistics\/260259\/largest-shopping-malls-united-states-gross-leasable-area\/\">Statista<\/a><\/p>\n<h3><b>Which Are the Busiest Malls in America?<\/b><\/h3>\n<p>In 2019, the Ala Moana Center in Honolulu, Hawaii, was the busiest shopping mall in the United States, attracting around <b>52 million<\/b> visitors annually. It was closely followed by the Mall of America in Bloomington, Minnesota, which recorded approximately <b>40 million visitors<\/b> during the same year.<\/p>\n<p>Check out the annual footfall rankings of leading US malls in the table below &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Mall, city, state<\/strong><\/td>\n<td><strong>Annual footfall<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Ala Moana Center, Honolulu, HI<\/td>\n<td>52 million<\/td>\n<\/tr>\n<tr>\n<td>Mall of America, Bloomington, MN<\/td>\n<td>40 million<\/td>\n<\/tr>\n<tr>\n<td>Houston Galleria, Houston, TX<\/td>\n<td>31 million<\/td>\n<\/tr>\n<tr>\n<td>Aventura Mall, Miami, FL<\/td>\n<td>28 million<\/td>\n<\/tr>\n<tr>\n<td>Del Amo Fashion Center, Torrance, CA<\/td>\n<td>27.6 million<\/td>\n<\/tr>\n<tr>\n<td>Woodfield Mall, Schaumburg, IL<\/td>\n<td>27 million<\/td>\n<\/tr>\n<tr>\n<td>Sawgrass Mills, Sunrise, FL<\/td>\n<td>26 million<\/td>\n<\/tr>\n<tr>\n<td>Palisades Center, West Nyack, NY<\/td>\n<td>24 million<\/td>\n<\/tr>\n<tr>\n<td>Gurnee Mills, Gurnee, IL<\/td>\n<td>23 million<\/td>\n<\/tr>\n<tr>\n<td>King of Prussia Mall, King of Prussia, PA<\/td>\n<td>22 million<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.statista.com\/statistics\/1197959\/shopping-malls-annual-footfall-united-states\/\">Statista<\/a><\/p>\n<h3><b>Which Malls in America Have the Most Stores?<\/b><\/h3>\n<p>The Mall of America in Bloomington leads with over <b>520 stores<\/b>, offering extensive shopping and entertainment options. In East Rutherford, the American Dream has <b>450+ stores<\/b>, making it a top destination for shopping and leisure.<\/p>\n<p>Some of the busiest malls in America with the highest number of stores are listed below &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Mall Name<\/strong><\/td>\n<td><strong>Number of Stores<\/strong><\/td>\n<td><strong>City\/Area<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Mall of America<\/td>\n<td>520+<\/td>\n<td>Bloomington, Minnesota<\/td>\n<\/tr>\n<tr>\n<td>American Dream<\/td>\n<td>450+<\/td>\n<td>East Rutherford, New Jersey<\/td>\n<\/tr>\n<tr>\n<td>King of Prussia Mall<\/td>\n<td>450+<\/td>\n<td>King of Prussia, Pennsylvania<\/td>\n<\/tr>\n<tr>\n<td>Aventura Mall<\/td>\n<td>300+<\/td>\n<td>Aventura, Florida<\/td>\n<\/tr>\n<tr>\n<td>South Coast Plaza<\/td>\n<td>270+<\/td>\n<td>Costa Mesa, California<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/en.wikipedia.org\/wiki\/List_of_largest_shopping_malls_in_the_United_States\">Wikipedia<\/a><\/p>\n<h2><strong>US Shopping Mall Vacancy Rates<\/strong><\/h2>\n<p>The number of malls dropped by <b>16.7%<\/b> each year from 2017 to 2022. It is estimated that up to <b>87%<\/b> of large shopping malls might close in the next 10 years. In 2021, high-end shopping malls had an average vacancy rate of <b>11.4%<\/b>, which improved to <b>8.6%<\/b> by the end of 2023.<\/p>\n<p>However, the nationwide mall vacancy rate is <b>110%<\/b> higher than the average retail vacancy rate.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6943 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/retail-real-estate-vacancy-rates.jpg\" alt=\"retail real estate vacancy rates\" width=\"1012\" height=\"601\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/retail-real-estate-vacancy-rates.jpg 1012w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/retail-real-estate-vacancy-rates-300x178.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/retail-real-estate-vacancy-rates-768x456.jpg 768w\" sizes=\"(max-width: 1012px) 100vw, 1012px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/capitaloneshopping.com\/research\/mall-closure-statistics\/\">CapitalOne Shopping<\/a><\/p>\n<h3><b>Vacancy Rate Improvements In Shopping Malls<\/b><\/h3>\n<p>From early 2021 to early 2024, shopping centers successfully reduced their vacancy rates from <b>7.3%<\/b> to a predicted <b>5.4%<\/b>. This shows how malls have adapted to new market demands and maintained high occupancy levels.<\/p>\n<p>Check out the below table to see how vacancy rates in shopping centers have changed from early 2021 to early 2024 &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Year<\/strong><\/td>\n<td><strong>Vacancy Rate (%)<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Q1 2021<\/td>\n<td>7.3<\/td>\n<\/tr>\n<tr>\n<td>Q2 2021<\/td>\n<td>7.1<\/td>\n<\/tr>\n<tr>\n<td>Q3 2021<\/td>\n<td>6.8<\/td>\n<\/tr>\n<tr>\n<td>Q4 2021<\/td>\n<td>6.5<\/td>\n<\/tr>\n<tr>\n<td>Q1 2022<\/td>\n<td>6.2<\/td>\n<\/tr>\n<tr>\n<td>Q2 2022<\/td>\n<td>6.0<\/td>\n<\/tr>\n<tr>\n<td>Q3 2022<\/td>\n<td>5.8<\/td>\n<\/tr>\n<tr>\n<td>Q4 2022<\/td>\n<td>5.6<\/td>\n<\/tr>\n<tr>\n<td>Q1 2023<\/td>\n<td>5.6<\/td>\n<\/tr>\n<tr>\n<td>Q2 2023<\/td>\n<td>5.4<\/td>\n<\/tr>\n<tr>\n<td>Q3 2023<\/td>\n<td>5.4<\/td>\n<\/tr>\n<tr>\n<td>Q4 2023<\/td>\n<td>5.3<\/td>\n<\/tr>\n<tr>\n<td>Q1 2024*<\/td>\n<td>5.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.statista.com\/statistics\/1201411\/vacancy-rate-shopping-center-real-estate-usa\/\">Statista<\/a><\/p>\n<h3><b>Mall Space Demolition Trends<\/b><\/h3>\n<p>From 2021 to 2022, the highest mall space demolitions occurred in Q1 2021 at <b>1.3 million<\/b> square feet and in Q4 2022 at <b>1.2 million square feet<\/b>, indicating significant periodic transformations in mall spaces. However, 2023 saw a decrease in net retail mall occupancy by <b>406 thousand<\/b> square feet.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6940 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Mall-space-demolished-per-quarter.jpg\" alt=\"owever, 2023 also saw a decrease in net retail mall occupancy by 406 thousand square feet.\" width=\"1012\" height=\"551\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Mall-space-demolished-per-quarter.jpg 1012w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Mall-space-demolished-per-quarter-300x163.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Mall-space-demolished-per-quarter-768x418.jpg 768w\" sizes=\"(max-width: 1012px) 100vw, 1012px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/capitaloneshopping.com\/research\/mall-closure-statistics\/\">CapitalOne Shopping<\/a><\/p>\n<h2><strong>Occupancy Rate Of American Malls<\/strong><\/h2>\n<p>By the end of 2022, malls were occupied at <b>95.1%<\/b>, up from about <b>92%<\/b> in 2020. Deborah Weinswig, founder and CEO of Coresight Research, noted that occupancy above <b>92%<\/b> means the mall is fully used, leaving room for new tenants and ensuring a steady flow of changes, which helps malls operate effectively.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-6938 size-full\" src=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-Occupancy-Rate_-Top-Tier-vs.-Non-Top-Tier-Malls-.jpg\" alt=\"Average Occupancy Rate_ Top-Tier vs. Non-Top-Tier Malls ()\" width=\"1012\" height=\"581\" srcset=\"https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-Occupancy-Rate_-Top-Tier-vs.-Non-Top-Tier-Malls-.jpg 1012w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-Occupancy-Rate_-Top-Tier-vs.-Non-Top-Tier-Malls--300x172.jpg 300w, https:\/\/cdn.grabon.com\/gograbonus\/blog\/wp-content\/uploads\/Average-Occupancy-Rate_-Top-Tier-vs.-Non-Top-Tier-Malls--768x441.jpg 768w\" sizes=\"(max-width: 1012px) 100vw, 1012px\" \/><\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/coresight.com\/research\/the-state-of-the-american-mall-competitive-attractive-and-here-to-stay\/\">Coresight Research<\/a><\/p>\n<h2><strong>Mall Visitor Trends and Market Impact Post-Pandemic<\/strong><\/h2>\n<p>In 2022, top-tier malls had <b>11%<\/b> more long-distance visitors, showing a strong recovery and renewed interest from visitors. Less popular malls also saw a <b>7%<\/b> increase in local visitors, stressing their dependence on regional visitors for recovery.<\/p>\n<p>Check out how local and long-distance visitor trends to malls have changed compared to pre-pandemic 2019 levels in the table below &#8211;<\/p>\n<div style=\"overflow-x: auto;\">\n<table>\n<thead>\n<tr>\n<td><strong>Category<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>2022<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td colspan=\"4\"><strong>Local Visitors<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Top-Tier Malls<\/td>\n<td>-26%<\/td>\n<td>-5%<\/td>\n<td>8%<\/td>\n<\/tr>\n<tr>\n<td>Non-Top-Tier Malls<\/td>\n<td>-20%<\/td>\n<td>1%<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><strong>Long-Distance Visitors<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Top-Tier Malls<\/td>\n<td>-33%<\/td>\n<td>-6%<\/td>\n<td>11%<\/td>\n<\/tr>\n<tr>\n<td>Non-Top-Tier Malls<\/td>\n<td>-26%<\/td>\n<td>0%<\/td>\n<td>8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/coresight.com\/research\/the-state-of-the-american-mall-competitive-attractive-and-here-to-stay\/\">Coresight Research<\/a><\/p>\n<h3><strong>Modernizing Mall Development<\/strong><\/h3>\n<p>In an analysis of <b>135<\/b> mall development projects, <b>53%<\/b> included housing, and <b>34%<\/b> included office spaces.<\/p>\n<p>Over <b>50%<\/b> of shopping malls are expected to add non-retail anchors, such as fitness centers, office spaces, or residential units, by 2025.<\/p>\n<p>By 2030, it is expected that <b>45%<\/b> of shopping malls will incorporate mixed-use development.<\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/passby.com\/blog\/the-future-of-shopping-malls-retail\/\">Passby<\/a><\/p>\n<h2><b>E-Commerce Growth Among Retail Brands<\/b><\/h2>\n<p>In 2024, several brands experienced a shift from mall shopping to online platforms, driven by the rise of e-commerce. Listed below are a few of them:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Approximately <b>30% of Macy&#8217;s<\/b> overall sales have transitioned online, reflecting the company&#8217;s strategic pivot towards digital growth.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Nike reports that<b> 26% of its sales<\/b> are now generated through online channels, emphasizing a strong direct-to-consumer (DTC) approach.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Gap Inc., including brands like Old Navy, Banana Republic, and Athleta, has seen a substantial <b>35% shift<\/b> towards online shopping across its portfolio.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Sephora, too, has adapted to this trend, with <b>25% of its sales<\/b> moving from physical mall stores to its online platform.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Lastly, JCPenney has observed a <b>28% increase in online sales<\/b>, highlighting the growing preference for e-commerce among its customers.<\/li>\n<\/ul>\n<p><b>Source: <\/b><a rel=\"nofollow\" href=\"https:\/\/www.digitalwebsolutions.com\/blog\/online-shopping-statistics\/\">Digital Web Solutions<\/a>, <a rel=\"nofollow\" href=\"https:\/\/redstagfulfillment.com\/ecommerce-statistics\/\">Red Stag Fulfillment<\/a><\/p>\n<h2><strong>Shopping Malls In The Age Of E-Commerce<\/strong><\/h2>\n<p>US shopping malls are facing challenges from online shopping, leading to closures, with estimates suggesting up to <b>25%<\/b> could shut down by 2025 and vacancy rates hitting a high of <b>10.5%<\/b> in 2020. However, top-tier malls are bouncing back, with occupancy rates reaching about <b>95%<\/b> and an average <b>12%<\/b> increase in foot traffic.<\/p>\n<p>Malls are adapting by adding restaurants and entertainment options, transforming into lively destinations beyond just shopping. Despite the rise of e-commerce, malls still play a significant role, capturing <b>12.9%<\/b> of US consumer spending in 2023, showing their ongoing importance and potential for recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Back in the 70s, approximately 37,000 malls across America grew into centers with food courts, movie theaters, and even ice-skating rinks. However, due to online shopping trends, malls have taken a hit and only around 1,150 malls are left in the country. This mall crisis took another hit during the Covid-19 lockdown. Despite various challenges, &hellip;<\/p>\n","protected":false},"author":17,"featured_media":6945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[58],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State Of US Shopping Malls In 2024<\/title>\n<meta name=\"description\" content=\"Know the state of shopping malls in the United States through statistics. This post has updated data up till August 2024. 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