Consumer confidence primed with perks

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

More U.S. households plan to hit the mall this month as owners across the country lure shoppers with prizes and freebies on Black Friday, Retail Traffic reported.

Offering discounts is the best way to get value-focused consumers in the door, mall owners said.

According to the International Council of Shopping Centers, or ICSC, about 60 percent of mall managers are expected to offer holiday shopping incentives on the day after Thanksgiving, typically one of the busiest shopping days of the year.

And if free parking, free refreshments and free gift wrapping aren’t enough, roughly 67 percent of mall managers plan to entice consumers with celebrity appearances, movie ticket giveaways and other perks.

The vast majority of mall managers — 90 percent — also plan to extend their hours on Friday.

The ICSC, the global trade association of the shopping center industry, said in its Holiday Watch report that retailers expect an uptick this year in same-store sales during the holiday shopping season.

On Black Friday, ICSC estimates, 31 percent of U.S. households will take a trip to the mall, a 5 percent increase from 2009. “The early predictions we are hearing from our retailers are very positive,” said Barb Faucette, vice president of mall marketing with CBL & Associates Properties, a Chattanooga, Tenn.-based regional mall real estate investment trust.

“People are spending,” she said. “We could see maybe a 3 percent increase this holiday season, so we are very encouraged by that.”