New analysis from Placer.ai indicates that shopping centers are continuing to outperform the long-running “dead mall” narrative, with many properties reinventing their role and maintaining healthy visitor flows. In a recently released white paper titled “How Malls Can Win in 2026,” the location analytics firm reports that both indoor malls and open-air shopping centers have posted consistent year-over-year traffic growth over the past two years. By contrast, outlet centers have seen slight declines, even as they still participated in an overall traffic uptrend early this year.
Across indoor malls, open-air shopping centers, and outlet properties, Placer.ai found that all three formats achieved mid-single-digit year-over-year traffic gains in the first two months of the current year. The report positions this performance as evidence that physical retail remains relevant, while also highlighting that not all formats are evolving at the same pace or in the same direction.
A central theme of the white paper is what Placer.ai describes as the growing divide between convenience-oriented visits and experience-driven trips. According to the analysis, consumer behavior is increasingly polarized between quick, targeted visits and longer, immersive outings, with mid-length trips becoming less common. This shift suggests that shopping centers that clearly lean into either efficiency or experience are better positioned to capture demand.
Indoor malls are emerging as key “third places” in this framework, with the white paper citing rising dwell times and strong engagement among younger, contemporary households. These trends position enclosed malls as destinations for longer, more experience-focused visits that can include multiple stops and discretionary spending. The report suggests that this dynamic supports strategies centered on creating engaging environments that reward extended stays.
Open-air centers, by comparison, are capturing more of the weekly routine. Placer.ai points to a higher share of short, weekday visits and particularly strong draw among affluent families. These metrics reinforce open-air formats as convenient hubs for essential retail trips and quick errands, where ease of access and time savings are core to the value proposition.
Outlet malls, however, are described as being at a strategic crossroads. The white paper notes that the traditional treasure-hunt appeal of outlets is being pressured by the rise of off-price competitors and online alternatives, while long-distance visitation is softening. In response, outlet centers face a choice between doubling down on local relevance or reinvesting in their role as destination retail nodes that justify longer trips.
Across all formats, Placer.ai concludes that strategic clarity will be decisive. Malls and shopping centers that explicitly organize their tenant mix, merchandising, and on-site experience around either convenience, experience, or a disciplined combination of the two are expected to be better positioned to capture and sustain traffic in the evolving retail landscape.
