Restaurants emerge as the new anchor for mall visits in 2024

The form and function of the traditional mall is expanding—from indoor commerce centers with rows of retailers to hybrid indoor-outdoor hubs that prioritize atmosphere as much as they do transactions. Malls are typically thought of as retail-first establishments, anchored around major retail stores like Macy`s and JCPenney. Yelp data shows that, over the last five years, people are increasingly visiting malls for dining experiences, particularly at national casual dining and quick-service restaurants (QSRs), as 17 of the top 25 mall brands are in the food category. This shift is reshaping the way malls are perceived and utilized, with food and dining becoming the mall destination instead of the afterthought.

Despite a nationwide decline in mall searches, with a 13% decrease year over year and an 8% drop compared to 2019, interest in the Northeast for malls remains strong. In New York, searches are up 28% since 2019, possibly spurred by the American Dream mall (opened in 2019). Nonmetropolitan New Jersey ticked the highest percentage growth in searches for malls, growing 2,308% year over year. This regional growth contrasts with declines in the Midwest and the West, which fell 7% and 19% over the same time period...