One of the more consistent patterns we’ve seen in the last few years has been the increased popularity of shopping outdoors, and the importance of grocery as an anchor in shopping centers. Visits to grocery-anchored centers were down only -3% year-over-year in June 2023. Outdoor shopping centers, which can include grocery stores as well as mass merchants or superstores, are also comparatively resilient, down -3% year-over-year in June. Open-air lifestyle centers are also trending as they tend to include more dining and entertainment options of late--these types are down -2% year-over-year in June. Outlet malls are seeing less foot traffic compared to last year, perhaps driven by rising gas prices. Indoor malls have seen the largest decline YoY, down -6%.
From an urbanicity standpoint, we are seeing a comeback of some of the high street corridors compared to last year. Suburban shopping centers are down -5% year-over-year as of June 2023. Urban shopping centers are down only -2% year-over-year. High street corridors, which still have the most to bounce back from compared to pre-Covid, are seeing improvement and are up 4% year-over-year.
