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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 6.5% in February 2023 over February 2022.

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 continue to rise in 2022.

Occupancy

29%

68%

5,402

5,570

6,565

7,097

1865

Excl: auto, gas, F&B

Incl: auto; Excl: gas, F&B

Incl: auto, gas; Excl: F&B

Total retail sales

See key statistics

In 2021, there were nearly twice as many announced store openings than closings.

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

6.6%

Year-to-date growth in retail sales excluding auto, gas and food and beverage services in 2023 over the same January-February period in 2022.

Growth in general merchandise stores sales in February 2023 over February 2022.

10.7%

Increase in retail sales excluding auto, gas and food and beverage services in January-February 2023 over the same period in 2022.

$46.2

Rise in the non-food/non-retail share of GLA in shopping centers from 2019 to 2022.

1.8pp

See key statistics

billion

Decline in the share of retail GLA in shopping centers from 2019 to 2022.

2.2pp

Increase in the food services share of GLA in shopping centers from 2019 to 2022.

0.5pp

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 (Q1-2021) to Q4-2022.

2.2pp

Increase in mall occupancy from Q4-2021 to Q4-2022.

1.6pp

Growth in open-air center occupancy from from Q4-2021 to Q4-2022.

1.3pp

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

Q4-2022

Dec '22

Jan '22

657.8

549.4

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

Unit: billions

Apr. 2021

1,469

4,889

5,142

5,982

6,339

1687

603.6

497.8

3,651

3,934

4,501

4,811

1320.3

480.9

379.7

4,732

4,899

5,163

503.2

1,350

3,527

3,659

3,919

361

996

Time period

2022 CLOSURES BY CATEGORY

Home Furnishings

402

Drug Stores

152

Apparel

120

Discount Department Stores

2022 CLOSURES BY CATEGORY

Unit= thousands

Unit: thousands

Feb '23

527.7

479.1

361.8

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

See key statistics