- Marjorie van Elven |
Store closings in malls may be on the rise, but shopping centers are far from dead -- at least during the holiday season. The International Council of Shopping Centers (ICSC) estimates 151 million US consumers to have visited a mall over the weekend, proving that physical retail remains the hub of Thanksgiving shopping. By surveying about 1000 adults aged 18 and above, ICSC found that 49 percent of consumers have spent more money this year than they did in 2017, while 30 percent spent the same amount.
“Black Friday kicked the holiday shopping season into high gear, driven by positive consumer sentiment and great deals from retailers,” said Tom McGee, President and CEO of ICSC, in a statement.
The survey also revealed that most consumers don’t restrict themselves to shopping on Friday. As many retailers also offer discounts on Saturday and Sunday, respondents have spent an average of 190 US dollars on the two days following the big event. Now, all US retailers can expect is that they will be just as excited to go shopping for Christmas. For ICSC, that is likely to be the case: “this holiday season is going to be strong”, predicted McGee.