Shopping Mall Management in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
NAICS OD4700Revenue
$20.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
21,626
Businesses
3,683
Wages
$X.Xbn
Shopping Mall Management in the US industry analysis
Shopping mall management servicers endured notable declines due to unfavorable digitization trends and impact of high interest rates on operational costs. For operators, rental income generates the largest portion of revenue with income from property management fees following. Accordingly, revenue primarily fluctuates in line with rental rates and occupancy levels. Over the past five years, growth in household earnings has boosted demand for retail space rental and food service space rental from businesses. However, this growth was offset by a growing popularity of online-based retailers such as Amazon.com Inc. The impact of the pandemic in early 2020 significantly reduced revenue as nonessential businesses were ordered to close, while recent spikes in inflationary pressures dampened consumers’ shopping propensity. Through the end of 2024, revenue fell at a CAGR of 4.0% to an estimated $20.8 billion, including stagnation in 2024 alone.
Trends and Insights
- E-commerce growth is stunting demand for traditional malls. As more shoppers turn to online outlets, shopping centers are witnessing a significant drop in customer interest.
- Rising real estate prices boost retail rent values. When malls have fewer vacancies, leasing costs rise and rental revenue for managers increases.
- High-population areas boost mall demand. These regions offer a varied customer base, driving up the need for larger establishments and generating a larger shopping base.
- Mall managers vie for prime spots to cut costs and lure in shoppers. This strategic search underscores internal competition, as a prime spot can increase foot traffic and minimize operating expenses.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 4.0 % over the past five years, to reach an estimated $20.8bn in 2024.
Trends and Insights
Multifaceted effect of the pandemic harms core revenue streams for shopping mall managers
- Since the majority of revenue is generated from rent collection and service fees, shopping mall managers thrive when shopping malls face significant consumer activity.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Implementation of new shopping techniques will accelerate shopping mall efficiency
- With economic conditions poised to remain uncertain due to higher interest rates, as exemplified by anticipated growth in the 10-year treasury note yield, financing expenses will heighten.
Biggest companies in the Shopping Mall Management in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Simon Property Group, inc. | 4,524.9 | 1,910.0 | 42.2 | |
Brookfield Property Reit inc. | 1,609.7 | 242.9 | 15.1 | |
Kimco Realty Corp | 1,011.4 | 359.7 | 35.6 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Rental of retail space, Property management services and Rental of food service space. Rental of retail space is the largest segment of the Shopping Mall Management in the US.
Trends and Insights
Diversification of shopping mall utilization boosts revenue generated from rental of retail space
- This product segment generates revenue from the rental of retail spaces for shopping mall facilities.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Commercial Leasing in the US
- Real Estate Sales & Brokerage in the US
- Property Management in the US
Complementors
- There are no industries to display.
International industries
- Global Commercial Real Estate
- Property Management in Canada
- Retail Property Operators in Australia
- Commercial Property Operators in New Zealand
- Commercial Real Estate in China
Table of Contents
About this industry
Industry definition
Shopping mall management servicers develop and manage shopping malls and other retail properties. Property management responsibilities involve the daily operation of the real estate asset, including leasing, maintenance, rent collection, trash removal, security and occasional repairs and renovations.
What's included in this industry?
Rental of retail space Property management services Rental of food service space Consulting, appraisal and listing servicesReal estate agent and brokerage servicesConstruction servicesCompanies
Simon Property Group, inc.Brookfield Property Reit inc.Kimco Realty CorpPurchase this report to view all 3 major companies in this industry.
Related Terms
REAL ESTATE INVESTMENT TRUST (REIT)VACANCY RATENEIGHBORHOOD CENTERCOMMUNITY CENTERREGIONAL CENTERLIFESTYLE CENTERIndustry Code
NAICS 53131 - Shopping Mall Management in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
E-commerce growth is stunting demand for traditional malls. As more shoppers turn to online outlets, shopping centers are witnessing a significant drop in customer interest.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Rising real estate prices boost retail rent values. When malls have fewer vacancies, leasing costs rise and rental revenue for managers increases.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
High-population areas boost mall demand. These regions offer a varied customer base, driving up the need for larger establishments and generating a larger shopping base.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Mall managers vie for prime spots to cut costs and lure in shoppers. This strategic search underscores internal competition, as a prime spot can increase foot traffic and min...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Just three firms hold over a 5% market share. They're riding high on ready capital and a commanding presence in Real Estate Investment Trusts, giving them hefty market contro...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Simon Property Group, inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Brookfield Property Reit inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Kimco Realty Corp's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Simon Property Group, inc., and factors influencing its performance in the industry
- Description and key data for Brookfield Property Reit inc., and factors influencing its performance in the industry
- Description and key data for Kimco Realty Corp, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Higher disposable income boosts shopping rates. When consumers have more money on hand, they're more likely to shop frequently, showcasing greater spending flexibility. This ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Online shopping has dulled profit gains for malls. As customers focus on saving money, they're turning to internet retailers, squeezing the profit margins of traditional shop...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Shopping Mall Management in the US industry in United States in 2024?
The market size of the Shopping Mall Management in the US industry in United States is $20.8bn in 2024.
How many businesses are there in the Shopping Mall Management in the US industry in 2024?
There are 3,683 businesses in the Shopping Mall Management in the US industry in United States, which has declined at a CAGR of 3.0 % between 2019 and 2024.
Has the Shopping Mall Management in the US industry in United States grown or declined over the past 5 years?
The market size of the Shopping Mall Management in the US industry in United States has been declining at a CAGR of 4.0 % between 2019 and 2024.
What is the forecast growth of the Shopping Mall Management in the US industry in United States over the next 5 years?
Over the next five years, the Shopping Mall Management in the US industry in United States is expected to grow.
What are the biggest companies in the Shopping Mall Management in the US market in United States?
The biggest companies operating in the Shopping Mall Management market in United States are Simon Property Group, inc., Brookfield Property Reit inc. and Kimco Realty Corp
What does the Shopping Mall Management in the US in United States include?
Rental of retail space and Property management services are part of the Shopping Mall Management in the US industry.
Which companies have the highest market share in the Shopping Mall Management in the US in United States?
The company holding the most market share in United States is Simon Property Group, inc..
How competitive is the Shopping Mall Management in the US industry in United States?
The level of competition is moderate and steady in the Shopping Mall Management in the US industry in United States.
