Placer.ai: Indoor, outlet malls see visits drop in March
After a strong performance in January and February, mall traffic, with the exception of open-air centers, decreased in March.
According to retail analytics firm Placer.ai’s March 2026 Mall Index, indoor malls saw a slight year-over-year decline in visits of 1.1%, while outlet malls experienced a steeper drop of 4.1% compared to March 2025. Open-air shopping centers were the only format to maintain growth, seeing a 3.2% year-over-year visit increase. Though solid, the increase was still more modest than the gains seen in January and February.
Placer.ai found that in the first quarter overall, mall visit growth was concentrated at the edges of the day. Traffic before 11 a.m. and after 8 p.m.saw the strongest gains, with additional support from the early evening (5 p.m. to 8 p.m.). In contrast, midday traffic – the largest share of visits – was relatively flat for open-air centers and slightly negative for indoor and outlet malls
In March, visit growth in morning and evening hours slowed – particularly for indoor and outlet malls – while midday declines grew. Placer.ai says this meant the off-peak gains were no longer sufficient to offset weakness in the core of the day, which led to the year-over-year traffic declines for indoor and outlet malls.
“The softness seen in March at indoor and outlet malls does not negate the strong start to 2026, which drove overall year-over-year visit growth in Q1,” said Shira Petrack, head of content at Placer.ai. “However, it does highlight what will be required to sustain that momentum going forward. Open-air shopping centers provide a more balanced daypart mix – likely driven by their dining, entertainment, and extended-hour experiences – that has helped cushion midday softness. For indoor and outlet malls, long-term stability will likely depend on a combination of both – strengthening midday performance while also building consistent off-peak demand.”
