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Coronavirus Consumer Survey

Get the latest research statistics on the state of Marketplaces Industry.

Economic outlook

Consumer behavior

Looking ahead

Safety habits

Take a closer look at buyer behavior, including spending habits and safety precautions

Coronavirus consumer survey

of adults believe the economy is better than it was a month ago

18%

believe the economy will improve in the next 12 months

agree businesses should be open in their state

Source: ICSC’s COVID-19 Consumer Series. Covid survey, WAVE January 14 - 16, 2021

Excluding gas, automotive, and food and beverage services, retail sales grew 5.5% in October 2024 over October 2023.

Sales composition

Source: U.S. Census Bureau, ICSC Research

The share of GLA in shopping centers devoted to retail continues to decline and shift toward food and other services.

Shopping Center GLA Distribution

Shopping center occupancy rates rise to the highest level in five years in Q3-2024.

Occupancy

29%

68%

5401

5566

6520

7041

7200

Excl: auto, gas, F&B

Incl: auto; Excl: gas, F&B

Incl: auto, gas; Excl: F&B

Total retail sales

See key statistics

In 2023, announced store openings outpaced closings by more than 1,600 stores.

Announced openings & closings

Not all bankruptcies filed result in store closures, as many are filed as a means to restructure debt. However, others announce and begin the process of store closure as part of realigning operations or going out of business altogether

Bankruptcies & resulting closures

See 2020 store closures by category

by year

by month

Source: PNC RE Market Research, ICSC Research

Store Closures

No. of Bankruptcies

Source: PNC RE Market Research, ICSC Research

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Share on your social

by month

by year

65%

are shopping/browsing inside physical stores for non-essential goods

54%

are dining indoors at a restaurant, bar or other eating place

48%

are shopping inside a mall

52%

would support a lock down or increased restrictions on activities if local COVID cases significantly rise

86%

changing purchasing habits due to rising prices

71%

are still cutting back on spending

44%

buying brands that are generally cheaper as a result of rising prices

47%

being stricter with mask wearing due the Omicron variant of COVID-19

62%

currently being more cautious when going out in public

55%

are comfortable with the ways in which the state/local community are handling the current COVID-19 situation

56%

are engaging in a normal level of out-of-home activity

See key statistics

5.0%

Growth in 2024 year-to-date (Jan-Oct) food and beverage services sales over the same period in 2023.

October 2024 increase in retail sales excluding auto, gas and food and beverage services over the same month in the prior year.

5.0%

Q3 2024 increase in retail sales excluding auto, gas and food and beverage services over the same quarter in the prior year.

$42.9

Rise in the non-food/non-retail share of GLA in shopping centers from Q2-2021 to Q2-2023.

0.8pp

See key statistics

billion

Decline in the share of retail GLA in shopping centers from Q2-2021 to Q2-2023.

-1.0pp

Increase in the food services share of GLA in shopping centers from Q2-2021 to Q2-2023.

0.2pp

Note: Despite announced openings and closings, the distribution of GLA may lag based on when businesses shut their physical doors.

Rise in total shopping center occupancy from pandemic-era low in 2021 to Q3-2024.

2.7pp

Increase in mall occupancy from Q3-2023 to Q3-2024.

1.7pp

Growth in open-air center occupancy from Q2-2024 to Q3-2024.

0.5pp

See key statistics

Apparel

6,078

See 2020 store closures by category

Footwear

309

Grocery

109

Discount department stores

Source: CoStar Realty Information, ICSC Research

Source: NCREIF, ICSC Research

Sales Composition

Shopping Center GLA Distribution

Occupancy

Announced Openings & Closings

Bankruptcies & Resulting Closures

2019

2020

2021

2022

2023

Q3 2024

Sept '24

1852

589.3

Click on each section to learn about this month’s data

Unit: billions

Apr. 2021

1,469

4888

5136

5947

6305

6550

1686

537.8

3653

3930

4469

4784

4967

1274

409.5

4,732

4,899

5,163

503.2

1,350

3,527

3,659

3,919

361

996

Time period

2023 CLOSURES BY CATEGORY

Home Furnishings

1164

Footwear

542

Drug Stores

475

Apparel

231

2023 CLOSURES BY CATEGORY

Unit= thousands

Unit: thousands

Oct '24

632.4

578.2

440.7

Year-to-date sales growth through May at clothing and clothing accessories stores in 2022 over 2021

See key statistics

624.2

4997

$23.1

billion