I tend to think the glass is better than half full. Mall traffic will likely be down as a consequence of some lingering regional restrictions. I can also envisage elderly consumers being wary of crowds until the vaccination process kick in. However I can also see some positive impacts. Risk averse consumers may opt for a shopping centre gift card instead of lingering in shops searching for a gift. A condensed shopping season may also see younger consumers flock to malls as a more efficient shopping experience.
I’ll opt for a 30% shortfall on last year.
Broker Valuations, page-22
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