September 9, 2016
Malls are putting up a fight. And while the news may be too late for teen retailers Wet Seal, American Apparel, Pacific Sunwear and Aeropostale Inc (bankruptcy casualties), nor might it derail e-commerce juggernauts like Amazon.com – the demise of brick-n-mortar may yet be premature.
Teens and young adults surveyed by William Blair reveal an interesting trend. They are frequenting malls more in 2016 than in 2015, reversing a downward trend started in 2013. In fact, 41% say they increased mall time.
So, just what are teens doing at the mall now? Surprisingly, 24% of them say the mall is their preferred place to to meet with friends, which beats out movie theaters (21%), restaurants (21%) and sports clubs/extracurricular activities (10%).
The finding suggests that malls’ efforts to increase relevancy is gaining traction.
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