Simon's Black Friday Boon: A Traffic Surge and Retail Resurgence
Monday, Dec 2, 2024 12:45 pm ET
Simon®, the renowned real estate investment trust specializing in premier shopping, dining, and entertainment destinations, has reported a remarkable 6.4% increase in portfolio traffic over the Black Friday weekend. This impressive figure includes a 7.1% gain recorded at Simon's Malls nationwide. This traffic surge underscores the resurgence of brick-and-mortar retail and the enduring appeal of Simon's shopping experiences.
The holiday shopping season kicked off with a bang, as waves of customers flocked to Simon's centers across the country. Year-over-year traffic was up 5.9% on Black Friday and continued to grow throughout the weekend, with increases of 6.3% on Saturday and 8.2% on Sunday. This strong start to the holiday season is a testament to Simon's ability to adapt and thrive in a shifting retail landscape.
David Simon, Chairman, Chief Executive Officer, and President of Simon, expressed his confidence in the thriving mall culture, stating, "On Black Friday and throughout the weekend, we saw even more evidence of what we already knew: Malls are thriving." Popular brands within Simon's portfolio reported double-digit sales increases compared to the previous year, further emphasizing the retail resurgence.
Simon's success can be attributed to its strategic differentiation in shopping experiences, creating one-stop shops for holiday needs while fostering connections across generations. By offering a mix of popular brands, exclusive deals, and lines of eager shoppers coast to coast, Simon has demonstrated its resilience and appeal during the holiday season.

The growth experienced across all of Simon's platforms, with Malls up an impressive +7.1%, represents a continuation of the growth and momentum the company has seen leading into the holiday season. Simon's commitment to creating community gathering places and mixed-use developments has contributed significantly to its traffic growth and overall appeal.
In conclusion, Simon's 6.4% portfolio traffic increase on Black Friday weekend, with a 7.1% gain at its Malls nationwide, signals a resurgence in brick-and-mortar retail and underscores the enduring appeal of Simon's shopping experiences. As the holiday season progresses, Simon is well-positioned to continue its strong performance, driven by its strategic differentiation, commitment to community, and the enduring appeal of its mixed-use developments.