Based on brand new Retail Research by CBRE, Black Friday in the U.S. was off to a better-than-expected start for the 2022 Christmas holiday shopping season.
"The consensus from several CBRE-managed malls and shopping centers is that the 2022 holiday shopping season is off to a solid start," said Brandon Isner, CBRE Americas Head of Retail Research. "Shoppers gravitated to heavy discounts and to traffic-drivers like Santa visits and selfie-inspiring experiences, which we anticipate will continue to attract foot traffic throughout the season. Price inflation will remain a headwind for shoppers this season, so it's likely that discounts will play a sustained role in generating interest this season."
CBRE Retail Property Management surveyed personnel at 13 of the malls and outdoor, mixed-use centers that it manages across the U.S. and found the following regarding results from last weekend: