JLL’s holiday forecast is a combination of findings of two surveys: one of shoppers and the other of retail store managers. By merging the expectations of both buyer and seller, the hope was to gain a more complete understanding of holiday shopping habits.
JLL surveyed nearly 2,800 shoppers of 31 shopping centers in September 2016. JLL surveyed approximately 300 retail tenants in shopping centers in seventeen states in September and October of 2016. 71.8 percent of retailer respondents were inline retail locations and 16.0 percent were anchor or junior anchor tenants.
- JLL’s survey showed Millennials and Gen Xers prefer discount department stores and online shopping, citing “low prices” as their biggest influencer. Boomers and adults over 70 prefer traditional department stores and claim “quality” as their biggest influencer.
- In terms of when shoppers and retailers determine the start of the holiday season, 68.0 percent of shoppers consider the day after Thanksgiving the official start and only 37.2 percent of retailers agree, with most retailers saying the holidays start after Halloween
So, what we can expect for 2016? Special in-store events can bolster holiday traffic. Therefore, some retailers will have a visiting Santa or live music. One store in JLL’s survey will bring in authors for a book reading and another will provide makeup tutorials.
Download your copy of JLL’s Holiday Report.
View JLL’s #LetsGoShopping video.