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People are going to the mall to eat at the food court, not shop: UBS

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A man looks at apparel at the J.C. Penney Co. store inside the Glendale Galleria shopping center in Glendale, California.

Patrick T. Fallon | Bloomberg | Getty Images

More and more people are going to the mall to eat at the food court, not to buy clothes, according to a survey from UBS.

The investment bank said apparel spending continues to move online, away from bricks-and-mortar stores, with about 25% of total apparel sales in the U.S. taking place on the internet today. It expects that to grow to 31% by 2023.

“Shoppers say they increasingly go to the mall to eat at the food court or just hangout instead of visiting a big box store,” analyst Jay Sole said. “Since the mall is no longer the…



Source cnbc.com

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