U.S. adults make about 1.3 billion visits to purchasing facilities every month, or roughly 62 journeys per particular person yearly, in line with the Worldwide Council of Buying Facilities. 

Extra of these shoppers are going to strip malls.

Whereas some shops like traditional malls have struggled to retain buyers, foot site visitors to strip malls is booming. Annual visits to strip malls surged 18% final 12 months in contrast with previous to the pandemic, in line with knowledge compiled by analytics firm RetailStat.

The U.S. has greater than 68,000 strip malls from coast to coast, in line with the Worldwide Council of Buying Facilities.  

Comfort, hybrid work and the rise in millennials transferring to fast-growing suburbs are driving extra buyers towards the purchasing facilities. 

“Traces are shorter due to smaller shops, parking is less complicated, they’re normally in your manner house from dropping your child off at college or in your manner house from work,” mentioned actual property legal professional Jessica Vara of Hunton Andrews Kurth. 

Retailers are attempting to get a slice of the motion. Macy’s announced final 12 months it was opening 30 new small format shops in off-mall areas. The brand new retailers, about a fifth of the size of conventional shops, supply a slimmed-down choice, in line with the retailer. 

However strip malls face criticism for being eyesores of their communities, including to environmental issues and contributing to the demise of traditional business districts. 

So how did the U.S. grow to be coated in strip facilities, and will the format be the way forward for brick-and-mortar retail?

Watch the video to learn more.