Shopping Centers Today International

JAN 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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J A N U A R Y 2 0 1 6 / S C T 7 STREET WISE Malls entertain the masses As Latin America's eco- nomic growth and sales falter, the entertainment value of shopping centers is increasing. A survey by FT Confidential Research found that mall cinemas are most popular among Andean country residents, with 79.1 percent of Co- lombians saying they went to a mall cinema in the third quarter of 2015, up from 72.9 percent a year earlier. Among Peruvians, 76.8 percent went to the movies at a mall in the same period, up from 73 percent the previous year. In Mexico 76.6 percent of respondents said they'd been to a mall movie the- ater during the third quar- ter, well above the regional average of 65.8 percent. In recession-hit Brazil, which has seen apparel and foot- wear sales drop sharply, nearly 60 percent of respon- dents say they go to a mall to see a movie at least three times a month. Consumers show love to Main Street This year more shop- pers report visiting local independent businesses on Small Business Sat- urday than ever before, according to the Small Business Saturday Con- sumer Insights Survey, compiled jointly by the National Federation of Independent Business and American Express. Some 95 million con- sumers shopped at small establishments on Small Business Saturday, up by 8 percent from last year. This year Small Business Saturday saw record lev- els of support from com- munities and local orga- nizations. About 4,100 volunteers around the country rallied local busi- nesses and created events in their communities for Small Business Saturday — up by 48 percent over last year. Meanwhile, some 425 organizations joined the Small Business Saturday Coalition, up by 11 percent. Total spending among Americans aware of Small Business Saturday reached $16.2 billion at independent retailers and restaurants for the day, up by 13 percent from $14.3 billion in 2014. Among those who shopped on Small Busi- ness Saturday, 31 percent attended a community event on the day and 81 percent encouraged oth- ers to support local small businesses. Additionally, consumers and small businesses helped rally support for Small Busi- ness Saturday and their favorite small businesses on social-media channels. In November, there were some 85 million social- media engagements in support. "It's very encouraging to see small businesses participate every year and more shoppers giv- ing local entrepreneurs a chance to compete for their business," said Dan Danner, president and CEO of The National Federation of Indepen- dent Business. "Ameri- cans are returning to Main Street for the things they need, and ultimately that's a very healthy eco- nomic trend." '' Americans are returning to Main Street for things they need, and ultimately that's a very healthy economic trend. '' — Dan Danner NFIB New York's Upper Fifth Av- enue is the most expensive retail street in the world, ac- cording to Cushman & Wake- field's annual survey. Rents have risen at 35 percent of the top retail streets around the world – despite increased global uncertainty. Here's how the Top 5 looks this year: 1. Upper Fifth Avenue, NYC 2. Causeway Bay, Hong Kong 3. Avenue des Champs-Élysées, France 4. New Bond Street, London 5. Via Montenapoleone, Milan

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