Men and millennials are the main traffic-growth drivers at outlet malls, according to Cowen & Co.’s latest Consumer Tracker Survey, with consumer traffic reaching a two-year high in July.
When 2,506 consumers were asked in July, “Did you shop in an outlet mall over the last 30 days?” 26% said, yes, they had.
“Visitation to the U.S. outlet centers by U.S. consumers among our total survey population is up 400 basis points on a sequential basis since the March 2016 trough and continues to outpace mall traffic,” analysts wrote in the Monday note. A basis point is equal to 0.01%.
“Men continue to show year-over-year gains in outlet visitation year to date through July 2016 across all age groups despite difficult year-ago comparisons,” the note said.
Visits by millennial men 18 to 34 were up 658 basis points in June and 535 basis points in July, reaching a new peak of 44%. Visits by men between 35 and 54 were up 388 basis points in June and 1,087 basis points in July.
“We think the increase in visitation to outlets by men is being driven by athleisure on promotion, especially as Nike, in part, continues to clear North America surplus through its Factory channel,” the Cowen note said....
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