Retailers Rejoice! Super Saturday Sales Traffic Strong Says ICSC Chief

Super-Saturday lived up to its billing as shoppers streamed into malls this past weekend, said Thomas McGee, CEO of the ICSC.
Author:
Publish date:

Super-Saturday lived up to its billing as shoppers streamed into malls this past weekend, said Thomas McGee, CEO of the International Council of Shopping Centers (ICSC). 'We expect this to be a robust shopping season with year-over-year growth of about 3%,' said McGee, adding that an estimated 120 million Americans tried to fill their lists this past weekend on so-called Super Saturday, the last Saturday before Christmas. The ICSC estimates that 6.2 billion visits will be made to shopping centers between November 28 and December 24 and, of those, 570 million visits are for discretionary purchases. Overall, there are 115,000 shopping centers in the U.S. valued at $1.3 trillion with malls only making up only 1% of the lot. Americans on average spend $147 per week at shopping centers, according to ICSC. In total, American adults who visit shopping centers spend roughly $30 billion per week or $4.3 billion a day at shopping centers, said McGee, adding that fears of the demise of the mall are overblown.