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					Mastermind Consultants Group Industry Intelligence Report

Shopping Centers
Who Buys Source In a typical month during 2002, 201.4 million U.S. adults visited shopping International centers, up from 199.3 million in 2001 and 196.6 million in 2000. Council of Shopping Centers, 2003 Some 40 million people a year visit the largest mall in the U.S. -- the Mall International of America in Bloomington, Minnesota. Council of Shopping Centers, 2003 A 2002 report by Stillerman Jones & Company determined the breakdown Research Alert, of shopping mall customers, by age group: 15-19, 14%; 20-24, 12%; 25- 2002 29, 10%; 30-44, 26%; 45-54, 16%; 55-64, 10%; 65+, 12%. The number of mall shoppers age 45-54 has grown 33% over the past 10 years, while the number of teen shoppers has increased 27% in the last five years. The 2002 study by Stillerman Jones & Company also determined the Research Alert, share of shopping mall sales that can be attributed to each age bracket: 2002 15-19, 9%; 20-24, 10%; 25-29, 10%; 30-44, 31%; 45-54, 19%; 55-64, 11%; 65+, 10%. According to a survey of approximately 36,000 mall shoppers, ICSC, 2002 commissioned by the International Council of Shopping Centers, average number of mall visits in the previous three months, by respondents' age: 14-17, 14.8 visits; 18-24, 11.7 visits; 25-34, 9.2 visits; 35-44, 8.5 visits; 45-54, 8.9 visits; 55-64, 8.9 visits; 65+, 11.4 visits. When They Buy According to a survey by Stillerman Jones & Company, average amounts spent by consumers at shopping centers, by day: Monday, $65.07; Tuesday, $65.57; Wednesday, $65.30; Thursday, $69.86; Friday, $69.60; Saturday, $76.80; Sunday, $79.22. A survey by Stillerman Jones & Company determined the average amounts spent by consumers at shopping centers, according to time of day: Opening-noon, $64.56; noon-2 PM, $71.16; 2-4 PM, $73.05; 4-6 PM, $72.44; 6-8 PM, $72.86; 8 PM-closing, $70.36. Source Forecast, 2003

Forecast, 2003

Based on the recent study of some 36,000 consumers, commissioned by ICSC, 2002 the International Council of Shopping Centers, shoppers averaged 10.1 trips to the mall over the previous three months, with each trip lasting an average of 78.1 minutes. According to the recent survey of mall shoppers commissioned by the International Council of Shopping Centers, amount of time spent at the mall per trip, by age of shopper: 14-17, 88.7 minutes; 18-24, 70.8 minutes; 25-34, 74.6 minutes; 35-44, 80.5 minutes; 45-54, 79.7 minutes; 55-64, 83.4 minutes; 65+, 85.7 minutes. ICSC, 2002

According to the International Council of Shopping Centers, share of mall ICSC, 2002 tenant sales by month in 2001: January, 5.8%; February, 6.7%; March, 7.5% April, 7.2%; May, 7.3%; June, 7.9%; July, 7.2%; August, 8.1%; September, 7.9%; October, 7.2%; November, 9.0%; December, 18.1%.

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Mastermind Consultants Group Industry Intelligence Report

The International Council of Shopping Centers' survey figured that White shoppers spend an average of 78.3 minutes per mall visit, compared to 70.5 minutes for African Americans, 90.3 minutes for Hispanics and 79.9 minutes for Asians. Share of mall movie theater ticket sales in 2001, by month: January, 8.5%; February, 7.5%; March, 6.3%; April, 6.3%; May, 7.6%; June, 9.6%; July, 11.1%; August, 11.5%; September, 5.4%; October, 5.8%; November, 10.2%; December, 10.2%. According to research by Purdue University's Retail Institute, 98% of malls extend their hours during the holiday shopping season.

ICSC, 2002

International Council of Shopping Centers, 2002 Research Alert, 2002

How They Buy

Source

The ICSC survey also calculated how much mall shoppers spend per visit, International according to household income: Under $15,000, $51.20; $15-24,999, Council of Shopping $59.30; $25-34,999, $65.20; $35-49,999, $74.20; $50-74,999, $78.90; Centers, 2002 $75,000+, $105.60. The survey of some 36,000 mall shoppers commmissioned by the International Council of Shopping Centers determined the average amount that the respondents spent per mall visit, by age group: 14-17, $45.00; 18-24, $57.90; 25-34, $78.10; 35-44, $86.90; 45-54, $90.00; 55-64, $87.90; 65+, $66.60. How much mall shoppers spend per visit, based on the amount of time spent at a shopping center: Less than 30 minutes, $39.20; 30-60 minutes, $60.60; 61-120 minutes, $94.30; 121-180 minutes, $121.90; more than 180 minutes, $148.90. Mall shoppers spend an average of $4.70 on food when visiting their favorite shopping centers. ICSC, 2002

International Council of Shopping Centers, 2002 International Council of Shopping Centers, 2002 Source

What They Buy

Average sales per gross square foot at major U.S. shopping malls: BizStats.com, 2004 Jewelry, $880; restaurants-food courts and kiosks, $648; supermarkets, $621; shoes-men's, $514; pharmacies, $498; accessories-women's, $478; restaurants-fast food, $453; shoes-children's, $439; specialty food stores, $430; personal care & health, $411; shoes-women's, $397; clothing-children's, $393; restaurants, $369; electronics, $355; home improvements, $333; shoes-athletic, $332; clothing-family, $328; clothing-women's, $308; shoes-family, $299; clothing-men's, $299; furniture & furnishings, $286; sporting goods, $246; stationery & card shops, $229; toys & hobbies, $221; automotive parts, $210; books, $199.

Where They Buy

Source

The 5 largest shopping center owners in 2003, based on amount of gross Shopping Center

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Mastermind Consultants Group Industry Intelligence Report

leasable area (GLA) owned (millions of square feet): 1. Simon Property World, 2003 Group, 183.4; 2. General Growth Properties, 109.6; 3. Kimco Realty Corp., 74.6; 4. Westfield America., 63.5; 5. The Macerich Company, 57.9. The 6-10 largest shopping center owners in 2003, according to amount of Shopping Center gross leasable area (GLA) owned (totals in millions of square feet): 6. CBL World, 2003 & Associates Properties, 56.1; 7. New Plan Excel Realty Trust, 52.0; 8. The Rouse Co., 45.2; 9. Benderson Development Co., 40.0; 10. Developers Diversified Realty, 39.7. The 5 largest shopping center management companies at the start of Shopping Center 2003, based on gross leasable area managed (millions of square feet): 1. World, 2003 Simon Property Group, 181.5; 2. General Growth Properties, 144.4; 3. Kimco Realty Corp., 86.2; 4. CB Richard Ellis, 65.0.; 5. Westfield America, 62.8. The 6-10 largest shopping center management companies at the Shopping Center beginning of 2003, according to gross leasable area managed (millions of World, 2003 square feet): 6. CBL & Associates Properties, 58.3; 7. The Macerich Co., 55.4; 8. New Plan Excel Realty Trust, 55.0; 9. The Rouse Co., 45.2; 10. Trammell Crow Co., 41.4. The 10 largest shopping centers in the U.S., based on gross leasable International area: 1. Mall of America (Bloomington, MN), 4,200,000; 2. Del Amo Council of Shopping Fashion Center (Torrance, CA), 3,000,000; 3. King of Prussia Plaza (King Centers, 2003 of Prussia, PA), 2,900,663; 4. Southcoast Plaza (Costa Mesa, CA); 5. Oakbrook Center (Oak Brook, IL); 6. Woodfield Mall (Schaumburg, IL); 7. Sawgrass Mills and the Oasis (Sunrise, FL), 2,181,832; 8. Roosevelt Field Mall (Garden City, NY), 2,177,843; 9. Lakewood Center Mall (Lakewood, CA), 2,120,373; 10. Tysons Corner Center (McLean, VA), 2,100,000. According to a 2003 study by BIGresearch, 37.7% of consumers said they Research Alert, are shopping less at enclosed malls in the past year, compared to only 2003 4.0% who indicated they are shopping them more. States with the largest amount of shopping center gross leasable area in 2002 (totals in millions of square feet): 1. California, 725.3; 2. Florida, 460.7; 3. Texas, 390.0; 4. Illinois, 270.7; 5. Ohio, 259.3; 6. Pennsylvania, 259.0; 7. New York, 256.6; 8. Georgia, 195.3; 9. North Carolina, 188.8; 10. New Jersey, 181.4; 11. Virginia, 179.9; 12. Michigan, 150.3; 13. Arizona, 139.2; 14. Tennessee, 138.5; 15. Maryland, 132.5. International Council of Shopping Centers, 2003

At its annual Spring Conference, the International Conference of Shopping Retail Merchandiser, Centers named its four hottest retail chains for 2003: Chico's; American 2003 Eagle Outfitters; Hot Topic; and Steve Madden. America's most productive shopping centers, based on estimated sales Footwear News, per square foot: Bal Harbour Shops (Bal Harbour, FL), $1,350; The Forum 2003 Shops at Caesar's Palace (Las Vegas), $1,300; Ala Moana Center (Honolulu), $920; The Americana Manhasset (Manhasset, NY), $900; South Coast Plaza (Costa Mesa, CA), $700; The Mall at Short Hills (Short Hills, NJ), $700; Fashion Square (Sherman Oaks, CA), $700; Copley Place

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Mastermind Consultants Group Industry Intelligence Report

Mall (Boston), $700; The Shops at Prudential Center (Boston), $700; Dadeland (Miami), $690. California has the most shopping centers of any state -- 6,152 -- while Wyoming has the fewest -- 55. There are only 1,182 enclosed malls in the United States. ICSC, 2003 International Council of Shopping Centers, 2003 Research Alert, 2002 Source International Council of Shopping Centers, 2003 International Council of Shopping Centers, 2003 International Council of Shopping Centers, 2003 International Council of Shopping Centers, 2003

A 2002 study by Purdue University's Retail Institute predicted that approximately half of 2002 holiday sales would be through malls. Business Trends Total retail sales generated through shopping centers increased 4.2% in 2002 to $1.235 trillion, up from $1.185 trillion in 2001, $1.139 trillion in 2000 and $1.074 trillion in 1999. The number of shopping centers in the U.S. grew by 613 in 2002 to 46,336, up from 45,723 in 2001, 45,016 in 2000 and 44,309 in 1999. The gross leasable area of U.S. shopping centers reached 5.77 billion square feet in 2002, compared to 5.68 billion square feet in 2001 and 5.57 billion in 2000. Number of U.S. shopping centers in 2002, according to square feet of facility: 100,000 or less sq. ft., 62.2%; 100,001-200,000 sq. ft., 24.2%; 200,001-400,000 sq. ft., 8.9%; 400,001-800,000 sq. ft., 3.2%; 800,000+ sq. ft., 1.5%.

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