City Malls Feel the Pinch As Shoppers Move to the Suburbs
Written by Alon Mwesigwa
Shopping malls in suburban areas are attracting more customers than those located in the city centre, a new sector update by the real estate agency Knight Frank, has shown.
“The trend of consumers moving to suburban retail nodes has continued and the suburban malls are starting to cement themselves as leisure shopping outings, and changing the landscape of consumer movement and behaviour in and around,” said the report, detailing the sector’s performance of the first half of this year.
The agency says the malls it manages in the suburbs have seen average growth of 14 per cent in motor vehicle traffic and nine per cent average growth of foot traffic.