A sharp drop in closed mall redemptions is the reason

by time news

The most painful blow of all was the closed malls, whose revenues were hit 21% in the first two weeks of January. In contrast, in power centers – that is, the open complexes, there was a decrease of only about 5%. As for the omicron wave, the fact that it erupted during the winter certainly does not make it easier for the closed malls. Reese’s data show that between March and December 2021, there was a 9.4% increase in store revenues compared to the same period in 2019. Divided into open and closed complexes, it was found that the Power Centers recorded a sharp increase of 18%, while the regional malls increased by only 6%.

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