Annually, Black Friday proves to be the busiest shopping day of the year – kicking off the start of holiday shopping and serving as a tradition for many families. And this year was no different, with more than 65.2 million shoppers visiting brick-and-mortar retail stores. Across PREIT malls, people were steadily shopping, eating, and socializing; parking lots were full; and food courts were packed! By show of bags and traffic, among the hot stores this year were Aerie, The North Face, and Bath & Body Works, as well as Pandora and Victoria’s Secret. The latter stores were highly visited by male shoppers – a new opportunity this year! – picking up gifts for the women in their lives. Interactive and experiential tenants were also in high demand. The Tesla display at Cherry Hill Mall was a huge hit, while our entrance near LEGOLAND Discovery Center saw a 14 percent increase in traffic over last year.
Traffic increased notably at the properties where we have completed anchor replacements and remerchandising efforts, particularly at Viewmont Mall in Scranton, PA. With the opening of DICK’S Sporting Goods, Field & Stream and HomeGoods in the space formerly occupied by Sears – along with the addition of national tenants Ulta, Buffalo Wild Wings, Forever 21 and Yankee Candle – there was something for every shopper.
Many media outlets reported on the strength of this year’s traffic, including 6abc reporting live from Cherry Hill Mall. You can check out more at this link. Additionally, the Philadelphia Inquirer highlighted the experiential fun of Black Friday, checking out LEGOLAND Discovery Center at Plymouth Meeting Mall. Full article can be read here.
The results of Thanksgiving Weekend always prove to be a solid indicator for holiday spending through the end of the year. With strong forecasts from the NRF and ICSC, we anticipate continued robust traffic and sales across our properties throughout the holiday shopping season.
Stay up-to-date with promotions and events at your local mall! A full list of PREIT properties can be found at https://www.preit.com/properties/mall-portfolio/.