The mall may be making a comeback, and it’s likely driven in large part by restaurants. According to foot traffic data from Placer.ai, mall visits – including indoor malls, open-air shopping centers, and outlet malls – continue to grow.
Comparing the analytics firm’s first quarter visits to malls in 2021, 2022, 2023, and 2024 to Q1 2019 indicates the positive trend of malls’ recovery. The data reveals that the pre-pandemic visit gap has been steadily narrowing over the past four years across all shopping center formats. And in Q1 2024, visits to open-air shopping centers even exceeded 2019 levels for the first time since COVID-related lockdowns in 2020.
Now there is strong evidence that restaurants are a big part of that recovery. New data released today from Yelp finds that throughout the past five years, people are increasingly visiting malls for dining experiences. National casual dining and quick-service chains represent 17 of the top 25 mall brands in the food category and, Yelp notes, this trend is reshaping the way malls are both perceived and utilized, with dining becoming a destination instead of an afterthought.
Yelp data shows that the number of restaurant concepts in malls has grown by 7% from 2019 to 2024. Bubble tea was the fastest-growing category, with a 113% increase in number of stores from 2019 to 2024. Conversely, traditional tea businesses have contracted by 49% since 2019. Other categories that have experienced significant growth include waffles (up 77%), vegan food (up 54%), and Filipino food (up 36%).
Restaurant brands have dominated the top 12 out of 25 most popular mall brands by consumer interest in the past year, according to Yelp data, including:
- Cheesecake Factory
- Din Tai Fung
- Macy’s
- BJ’s Restaurant and Brewhouse
- True Food Kitchen
- Starbucks
- Olive Garden
- Target
- California Pizza Kitchen
- Panera
- P.F. Chang’s
- Yard House
