Is the Mall Comeback Real? August Data Says Yes

The back-to-school season created quite the tailwind for malls and shopping centers across the U.S. to log their best foot traffic numbers of the year so far, according to the latest research report from Placer.ai.

In terms of the retail landscape, it were the open-air shopping centers that dominated and logged the strongest year-over-year gains in terms of foot traffic with 6.6% more visits than in August 2025. This was followed by indoor malls with 5.% more visits than in the same period last year.

Why Did Outlet Traffic Fall While Malls Gained?

With the back-to-school season coming in at a record high for spending ($43.3 billion for K-12), the enclosed malls’ high concentration of apparel and department stores anchored a successful season for the asset class. Open-air malls continued to excel based off a mix of grocery anchors, a robust lifestyle mix and strong mixed-use elements.

However, the malls with the greatest presence of apparel retailers and department store anchors would excel in this environment.

How Did Back-To-School Spending Reshape Retail Traffic In 2026?

The outlet center strengthened in August, dropping 2.7% in traffic to post its lowest traffic figure since March. The downturn at the outlet center was a result of a combination of very high gasoline prices making long trips to distant centers unattractive, and an unfavorable calendar that pushed the entire Labor Day weekend into September.

While total visits declined at outlets in August, average length of stay at open-air, indoor and outlet malls in August rose over the prior-year period, to indicate increased engagement with stores by shoppers that did go shopping.

Related article: “The Fall of Legacy Malls is Not a Sign Physical Retail is Dying. It’s a Sign Boring Retail is Dead.” — Arthur Zaczkiewicz’s column

Street Talk is the weekly newsletter for retail and fashion executives who want analysis, not noise. New issues every Thursday. Subscribe today.