Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Data sources
- Consumer survey data
- Advertising creative
- Abbreviations and terms
- Abbreviations
- Terms
Executive Summary
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- Market factors
- Demographic trends drive mixed mall performance
- Online and mobile shopping will have an effect on mall retailers
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- Figure 1: Fan chart forecast of total U.S. online and mobile shopping sales, at current prices, 2006-16
- Overall retail sales fluctuate, consumer spending on mall categories mixed
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- Figure 2: National retail sales growth rate (%), all retailers, 2003-13
- Key players achieve scale, but smaller players drive innovation
- Marketing successes
- The consumer
- Most consumers are monthly shoppers.
- Younger consumers like to shop more and are willing to browse
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- Figure 3: Reasons for visiting a shopping mall, by age, December 2012
- Consumers want shopping to be easier
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- Figure 4: Innovations/improvements desired at shopping malls, December 2012
- Asian and Hispanic consumers are a mall’s best customer
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- Figure 5: Frequency of visits to shopping malls— frequency groups, by race/Hispanic origin, December 2012
- What we think
Issues in the Market
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- How can malls demonstrate that they offer unique products that compel users to make an extra stop on their shopping trips?
- Are there opportunities to drive greater mall traffic among Asian and Hispanic consumers?
- Can dying malls be revived by shifting the focus away from retail?
Insights and Opportunities
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- Malls need an app strategy
- Building mall “brands” and themed experiences
- Back to the bazaar—instilling the excitement of discovery in shopping
- Drifting from the mainstream, appealing to Hispanic and Asian consumers
- Transforming malls into the go-to destination for moms
Trend Application
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- Trend: Immaterial World
- Trend: The Real Thing
- Future Trend: Access Anything, Anywhere
Market Drivers
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- Key points
- An aging population is bad news for malls…
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- Figure 6: Population, by age, 2008-18
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- Figure 7: Households, by presence and ages of children, 2011
- …but growing Hispanic and Asian populations means there will be more mall enthusiasts in the future
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- Figure 8: Population, by race and Hispanic origin, 2008-18
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- Figure 9: Households, by race of householder and presence and ages of children, 2011
- More single shoppers need to keep their wardrobes up to date
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- Figure 10: Percentage of population aged 15+ who are married, 1960-2010
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- Figure 11: Number and percentage of unmarrieds, 1960 and 2010
- Internet penetration does not mean the end of mall sales
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- Figure 12: Internet access at home, 2008-11
- Excess square footage
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- Figure 13: Macerich group mall occupancy rates at year end, 2002-11
- Overall retail sales continue to grow
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- Figure 14: National retail sales growth rate (%), all retailers, 2003-13
- Consumers remain uneager to buy
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- Figure 15: Index of consumer sentiment, November 1978-January 2013
- Stagnant consumer spending
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- Figure 16: Average annual consumer expenditures, by spending category, 2006-11
Competitive Context
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- Many Mallternatives: Mass merchandisers, club stores, and pharmacies offer other shopping destinations for consumers
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- Figure 17: Number of retail outlets of major competitors to malls, 2008-2012
- Anchor stores are gateways to the mall and want to retain shoppers
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- Figure 18: Anchor space occupied by top anchor properties within U.S. Westfield Malls, 2011
- Online and mobile shopping
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- Figure 19: U.S. total online and mobile shopping sales, at current prices, 2006-16
Leading Companies
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- Leading mall operator profiles
- CBL & Associates Properties
- General Growth Properties
- Glimcher Realty
- Macerich
- Simon Property Group
- Taubman Centers
- Vornado Realty
- Westfield Group
- Other mall operator profiles
- Forest City Enterprises
- Rouse Properties
- Trademark
- Poag & McEwen
Innovations and Innovators
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- New uses for malls: as office space; municipal space; conversions to green space
- Consumer understanding: a space for men in the mall
- Apps that go the distance
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- Figure 20: Greece Ridge Mall app product search feature, 2012
- Simple Touches: Keeping it Clean, Modern, and Appealing for Families
- Startups and popups
- The Lab “Anti-Mall” and SoBeCa
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- Figure 21: The LAB Anti-Mall retail space, March 2012
Marketing Strategies
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- Overview of the brand landscape
- Local targeting strategies: Print and CRM
- Local targeting strategies: Spot TV
- Classen Curve
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- Figure 22: Classen Curve, television ad “Has a little of all”, December 2012
- Sierra Vista Mall
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- Figure 23: Sierra Vista Mall, television ad “Healthy heart campaign,” August 2012
- Embarcadero Center
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- Figure 24: Embarcadero center, television ad, “Annual ice rink event,” November 2012
- Mobile strategies: apps that integrate social and local efforts
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- Figure 25: Westfield valley fair Facebook promotion, February 12, 2013
- Social strategy: mall tweets and check-ins
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- Figure 26: Simon-American Express co-branded tweet promotion, August 10, 2012
- Promotion strategies: deals and offers
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- Figure 27: Retailmenot App Screenshots promoting live deals, February 2013
Frequency of Visits to Shopping Malls
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- Key points
- Half of all consumers have visited a mall in the last four weeks
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- Figure 28: Visits to shopping malls in the last month, by gender, August 2011-August 2012
- Most consumers are “light” users of malls
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- Figure 29: Frequency of visits to shopping malls, December 2012
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- Figure 30: Frequency of visits to shopping malls, by gender, August 2011-August 2012
- Younger consumers are heavier mall users
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- Figure 31: Frequency of visits to shopping malls—frequency groups, by age, December 2012
- Millennials dominate heavy mall users
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- Figure 32: Frequency of visits to shopping malls—frequency groups, by generation, December 2012
- Malls appeal most to those with more time on their hands
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- Figure 33: Frequency of visits to shopping malls, by household income, December 2012
- Part-time workers have more time to visit malls
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- Figure 34: Frequency of visits to shopping malls—frequency groups, by employment, December 2012
- Larger households have more mall users, but singles want to stay in fashion
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- Figure 35: Frequency of visits to shopping malls—frequency groups, by household size, December 2012
Reasons for Visiting Shopping Malls
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- Key points
- Most shoppers go to malls to shop for something specific
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- Figure 36: Reasons for visiting a shopping mall, December 2012
- Women visit malls with a sense of purpose, men are less certain
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- Figure 37: Reasons for visiting a shopping mall, by gender, December 2012
- Younger consumers do many activities at the mall, older consumers simply shop
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- Figure 38: Reasons for visiting a shopping mall, by age, December 2012
- Higher-income consumers plan purchases, lower-income consumers browse
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- Figure 39: Reasons for visiting a shopping mall, by household income, December 2012
- Single people see malls as fun destinations
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- Figure 40: Reasons for visiting a shopping mall, by marital/relationship status, December 2012
- Larger households looking for gifts
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- Figure 41: Reasons for visiting a shopping mall, by number of people in household, December 2012
- Part-time workers have extra time to spend at malls
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- Figure 42: Reasons for visiting a shopping mall, by employment, December 2012
Reasons for Not Visiting Shopping Malls
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- Key points
- Many alternatives to mall shopping
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- Figure 43: Reasons for not visiting shopping malls, December 2012
- Women shop in many non-mall retailers, and are more interested in convenience
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- Figure 44: Reasons for not visiting shopping malls, by gender, December 2012
Attitudes/Opinions Toward Shopping Malls
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- Key points
- Malls need to work harder to increase traffic
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- Figure 45: Attitudes/Opinions toward shopping malls, December 2012
- High-income consumers are time constrained, want more efficient shopping experiences
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- Figure 46: Attitudes/opinions toward shopping malls, by household income, December 2012
- Spouses and singles shop, separated consumers don’t
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- Figure 47: Attitudes/opinions toward shopping malls, by marital/relationship status, December 2012
- Shoppers play favorites based on store environment and brands
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- Figure 48: Shopping attitudes/opinions, by gender, August 2011-August 2012
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- Figure 49: Shopping attitudes/opinions, by mall users and frequency groups, August 2011-August 2012
Innovations/Improvements Desired at Shopping Malls
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- Key points
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- Figure 50: Innovations/improvements desired at shopping malls, December 2012
- Women are looking for differentiated shopping experiences
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- Figure 51: Innovations/improvements desired at shopping malls, by gender, December 2012
- Youngest consumers most likely to visit malls that improve
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- Figure 52: Innovations/improvements desired at shopping malls, by age, December 2012
- Middle-income consumers are great customers, time savers are wanted by all
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- Figure 53: Innovations/improvements desired at shopping malls, by household income, December 2012
- Young, single consumers want extended hours; larger households want to be entertained
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- Figure 54: Innovations/improvements desired at shopping malls, by marital/relationship status, December 2012
Location and Distance Willing to Travel to Shopping Malls
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- Key points
- Consumers do not want to travel far for malls
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- Figure 55: The impact of location on preference to visit shopping malls, by age, December 2012
- Higher-income consumers like suburban mall shopping
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- Figure 56: The impact of location on preference to visit, by household income, December 2012
- Women willing to travel farther for malls
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- Figure 57: Distance willing to travel to shopping mall, by gender, December 2012
- Young consumers will travel for the right shopping experience
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- Figure 58: Distance willing to travel to shopping mall, by age, December 2012
- Higher-income consumers are less willing to travel for a good mall
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- Figure 59: Distance willing to travel to shopping mall, by household income, December 2012
Teen Mall Shopping Habits
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- Key points
- Teenage girls want to shop until they drop
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- Figure 60: Teen visits to shopping malls, by gender, April 2011-June 2012
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- Figure 61: Teen visits to shopping malls, by race/Hispanic origin, April 2011-June 2012
- Figure 62: Teens’ frequency of visits to shopping malls, by gender and age, April 2011-June 2012
- More girls go to malls with friends, over time more are going alone
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- Figure 63: Teen mall shopping companions, by gender and age, April 2011-June 2012
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- Figure 64: Trends in teen mall shopping companions, 2006-2012
- Most girls see going to the mall as a social activity
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- Figure 65: Teens’ use of shopping/going to the mall as a leisure activity/hobby, by gender, April 2011-June 2012
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- Figure 66: Teens’ use of shopping/going to the mall as a leisure activity/hobby, by race/Hispanic origin, April 2011-June 2012
Impact of Race and Hispanic Origin
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- Key points
- Hispanic and Asian consumers more likely to be frequent mall visitors
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- Figure 67: Visits to shopping malls, by race/Hispanic origin, August 2011-August 2012
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- Figure 68: Frequency of visits to shopping malls, by race/Hispanic origin, December 2012
- Non-white consumers more interested in browsing, entertainment offerings
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- Figure 69: Reasons for visiting a shopping mall, by race/Hispanic origin, December 2012
- Non-white consumers seek value, shop at many retailers besides malls
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- Figure 70: Agreement with attitudes/opinions toward shopping malls, by race/Hispanic origin, December 2012
- Hispanic consumers have different mall motivations
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- Figure 71: Shopping attitudes/opinions, by race/Hispanic origin, August 2011-August 2012
- Asian consumers enjoy malls as special experiences, Hispanic consumers want more time to shop
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- Figure 72: Innovations/improvements desired at shopping malls, by race/Hispanic origin, December 2012
Cluster Analysis
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- Smart Shoppers
- Demographics
- Characteristics
- Opportunity
- Mallvenient
- Demographics
- Characteristics
- Opportunity
- Mall Rats
- Demographics
- Characteristics
- Opportunity
- Cluster characteristic tables
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- Figure 73: Frequency of visits to shopping malls, by target clusters, December 2012
- Figure 74: Users frequency groups of visits to shopping malls, by target clusters, December 2012
- Figure 75: Agreement with attitudes/opinions toward shopping malls, by target clusters, December 2012
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- Figure 76: Innovations/improvements desired at shopping malls, by target clusters, December 2012
- Cluster demographic table
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- Figure 77: Target clusters, by demographic, December 2012
- Cluster methodology
Custom Consumer Groups
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- Key points
- Heavy mall users mostly 18-34, irrespective of gender
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- Figure 78: Frequency of visits to shopping malls—frequency groups, by gender and age, December 2012
- Younger Hispanic consumers are the heaviest mall users
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- Figure 79: Frequency of visits to shopping malls—frequency groups, by Hispanic origin and age, December 2012
- Parents with very young children also heavy mall users
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- Figure 80: Frequency of visits to shopping malls—frequency groups, by parents with children and age, December 2012
- Heavy users see malls as more than just a place to shop
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- Figure 81: Reasons for visiting a shopping mall, by users frequency groups of visits to shopping malls, December 2012
- Heavy users want more discounts, and are shopping elsewhere
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- Figure 82: Agreement with attitudes/opinions toward shopping malls, by users frequency groups of visits to shopping malls, December 2012
- Heavy users visit a wide variety of online retailers and other shopping-related websites
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- Figure 83: Websites visited in last 12 months, by users frequency groups of visits to shopping malls, December 2012
- Heavy users want more convenience, more reasons to visit the mall
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- Figure 84: Innovations/improvements desired at shopping malls, by users frequency groups of visits to shopping malls, December 2012
- Hispanic shoppers should be prompted to enter stores while already in the mall
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- Figure 85: Reasons for visiting a shopping mall, by Hispanic origin and age, December 2012
- Younger Hispanic shoppers find mall shopping more appealing than older Hispanic shoppers
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- Figure 86: Agreement with attitudes/opinions toward shopping malls, by Hispanic origin and age, December 2012
- Suburban consumers want to save shopping time; urban consumers have many options
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- Figure 87: Agreement with attitudes/opinions toward shopping malls, by location of shopping malls, December 2012
- Urban mall shoppers would visit more often for free-shipping, longer hours
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- Figure 88: Innovations/improvements desired at shopping malls, by location of shopping malls, December 2012
Appendix – Mall Operator Stores and Tenants
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- CBL & Associates Properties
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- Figure 89: CBL & Associates Properties profile, February 2013
- Figure 90: CBL & Associates Properties profile, February 2013 (continued)
- Figure 91: CBL & Associates Properties profile, February 2013 (continued)
- Figure 92: CBL & Associates Properties profile, February 2013 (continued)
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- Figure 93: CBL & Associates Properties profile, February 2013 (continued)
- General Growth Properties
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- Figure 94: General Growth Properties profile, February 2013
- Figure 95: General Growth Properties profile, February 2013 (continued)
- Figure 96: General Growth Properties profile, February 2013 (continued)
- Figure 97: General Growth Properties profile, February 2013 (continued)
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- Figure 98: General Growth Properties profile, February 2013 (continued)
- Figure 99: General Growth Properties profile, February 2013 (continued)
- Figure 100: General Growth Properties profile, February 2013 (continued)
- Glimcher Realty
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- Figure 101: Glimcher Realty profile, February 2013
- Figure 102: Glimcher Realty profile, February 2013 (continued)
- Macerich
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- Figure 103: Macerich property profile, February 2013
- Figure 104: Macerich property profile, February 2013 (continued)
- Figure 105: Macerich property profile, February 2013 (continued)
- Figure 106: Macerich property profile, February 2013 (continued)
- Simon Property Group
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- Figure 107: Simon Property Group profile, February 2013
- Figure 108: Simon Property Group profile, February 2013 (continued)
- Taubman Centers
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- Figure 109: Taubman Centers profile, February 2013
- Figure 110: Taubman Centers profile, February 2013 (continued)
- Vornado Realty
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- Figure 111: Vornado mall profile, February 2013
- Westfield Group
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- Figure 112: Westfield mall profile, February 2013
- Figure 113: Westfield mall profile, February 2013 (continued)
- Figure 114: Westfield mall profile, February 2013 (continued)
- Forest City Enterprises
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- Figure 115: Forest City Enterprises properties profile, February 2013
- Figure 116: Forest City urban retail properties, February 2013
- Figure 117: Forest City neighborhood center properties, February 2013
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- Figure 118: Forest City entertainment retail properties, February 2013
- Rouse Properties
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- Figure 119: Rouse Properties profile, February 2013
- Trademark
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- Figure 120: Trademark properties profile, February 2013
- Poag & McEwen
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- Figure 121: Poag & McEwen properties profile, February 2013
Appendix – Other Useful Consumer Tables
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- Frequency of mall visits
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- Figure 122: Frequency of visits to shopping malls, by gender, December 2012
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- Figure 123: Frequency of visits to shopping malls, by age, December 2012
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- Figure 124: Frequency of visits to shopping malls, by number of people in household, December 2012
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- Figure 125: Frequency of visits to shopping malls— frequency groups, by gender, December 2012
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- Figure 126: Frequency of visits to shopping malls, by employment, December 2012
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- Figure 127: Frequency of visits to shopping malls, by marital/relationship status, December 2012
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- Figure 128: Frequency of visits to shopping malls—frequency groups, by number of people in household, December 2012
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- Figure 129: Frequency of visits to shopping malls, by generation, December 2012
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- Figure 130: Frequency of visits to shopping malls, by Hispanic origin and age, December 2012
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- Figure 131: Frequency of visits to shopping malls, by parents with children and age, December 2012
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- Figure 132: Frequency of visits to shopping malls—frequency groups, by race/Hispanic origin, December 2012
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- Figure 133: Frequency groups of visits to shopping malls—Frequency groups, by marital/relationship status, December 2012
- Attitudes/opinions toward shopping malls
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- Figure 134: Attitudes/opinions toward shopping malls, by employment, December 2012
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- Figure 135: Attitudes/opinions toward shopping malls, by number of people in household, December 2012
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- Figure 136: Attitudes/opinions toward shopping malls, by generation, December 2012
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- Figure 137: Attitudes/opinions toward shopping malls, by parents with children and age, December 2012
- Innovations/improvements desired at shopping malls
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- Figure 138: Innovations/improvements desired at shopping malls, by employment, December 2012
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- Figure 139: Innovations/improvements desired at shopping malls, by generation, December 2012
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- Figure 140: Innovations/improvements desired at shopping malls, by parents with children and age, December 2012
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- Figure 141: Innovations/improvements desired at shopping malls, by Hispanic origin and age, December 2012
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- Figure 142: Innovations/improvements desired at shopping malls, by number of people in household, December 2012
- Location of shopping malls
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- Figure 143: Location of shopping malls, December 2012
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- Figure 144: Location of shopping malls, by number of people in household, December 2012
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- Figure 145: Location of shopping malls, by employment, December 2012
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- Figure 146: Location of shopping malls, by race/Hispanic origin, December 2012
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- Figure 147: Location of shopping malls, by parents with children and age, December 2012
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- Figure 148: Location of shopping malls, by Hispanic origin and age, December 2012
- Reasons for visiting a shopping mall
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- Figure 149: Reasons for visiting a shopping mall, by parents with children and age, December 2012
- Attitudes/opinions about shopping
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- Figure 150: Shopping attitudes/opinions, by age, August 2011-August 2012
Appendix – Trade Associations
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