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Why Macy’s is moving into strip malls
Annual visits to strip malls were up 18% in 2023 compared to before the pandemic.
Kieran Ryan
October 11, 2024
TODAY’S STORY
Macy’s is moving out of shopping malls in favor of strip malls.
The retailer announced last year that it was opening 30 new small-format stores in strip centers. At the same time, Macy’s plans to close ~150 of its namesake locations by early 2027.
The reason is pretty simple: more consumers are going to strip malls.
While shopping malls have struggled to retain shoppers, annual visits to strip malls were up 18% in 2023 compared to before the pandemic.
Shoppers seeking convenience prefer strip malls – the lines are shorter, and parking is more accessible.
Although Macy’s is still struggling (stock is down ~21% year-to-date), its new small-format stores have outperformed its legacy big-box stores.
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Thanks for reading,
Kieran & Justin Ryan
