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Value shopping and malls top retail expectations for rest of 2022

Despite high inflation and gas prices, some experts predict a robust holiday season for certain retailers.

Shopping malls that provide a full experience will attract more customers, according to Ethan Chernofsky, vice president of marketing at Placer.ai, a company that tracks and analyzes consumer foot traffic by collecting data from millions of devices.

“So it’s not just, is it a place where I can get shopping done?  It’s a place where I can get shopping done, I can get a bite to eat, I can go see a movie, I can pick up one or two more things and have this experience,” he said during a July 13 webinar hosted by Coresight Research..

Deborah Weinswig, CEO and founder of Coresight, predicted more sales for dollar stores and what industry insiders refer to as the “value space.”  

“They’re not very sophisticated when it comes to e-commerce and what not but I think in this environment what it is that they stand for I think is more important, right? Which is taking care of the customer and offering kind of the lowest price possible,” she said.

In the near term, Chernofsky expects high inflation and gas prices to cause consumers to downsize, “Discount and dollar instead of something slightly more expensive, grocery though instead of restaurants, so some of these kinds of patterns that we orient with that value shift, I think are going to be really strong in the next couple of months.”

He said the most successful retailers will emphasize value and proximity to appeal to consumers who don’t want to waste gas.

As a senior field correspondent, Christina Estes focuses on stories that impact our economy, your wallet and public policy.