Research + Studies
It looks like The Force will be with retail landlords and their tenants this weekend, for several reasons: About one-third (32 percent) of U.S. adults plan a trip to a movie theater tonight, tomorrow or Sunday, where, among other films, they will be able to see Star Wars: The Last Jedi. This is good for the industry, because 84 percent of those moviegoing adults will patronize a cinema at a mall or shopping center, and during the visit, 91 percent of them plan to participate in other activities, such as shopping or dining, according to ICSC Research. Overall, 75 percent of these moviegoers will dine at restaurants or other eateries at the shopping center, and 66 percent will shop. And these numbers do not include the many teens who will be thronging theaters as well.
Additionally, adults visiting movie theaters at shopping centers plan to use personal services (24 percent will do so), attend holiday events (23 percent), have a child’s picture taken with Santa (23 percent), go to the gym or participate in other forms of entertainment (14 percent) and/or contribute to a charity (14 percent), ICSC Research found.
Adding to the likelihood for some robust shopping is the fact that U.S. holiday shoppers have indicated completing only half (50.2 percent) of their gift buying so far this season (as of December 10). Such procrastination, unseen in recent years, may be resulting from shoppers waiting longer to find the best deals.
By Edmund Mander