(Image source: CNBC)
Simon malls joins other retailers in closing their retail stores on Thanksgiving for the second year in a row. CEO David Simon shared its decision to close the stores last year was due to the pandemic outbreak along with the “worrying consequences” that follows. This year, even though there are no restrictions, Simon malls will still be closed.
Simon malls are not the only retailer that shut their stores on Thanksgiving. The mall REIT will shut down for this year as well. Simon malls will get back to their customers for Black Friday, the biggest sale event of the year.
Despite the closures, shoppers will still enjoy a wide array of varieties to shop from thanks to the rise of e-commerce. Fueled by the pandemic, online shopping is becoming the preferred choice to shop and has changed consumers’ purchasing decisions forever. Last year Adobe tracked a record-high $5.1 billion online sales on Thanksgiving Day, a 21.5% increase over 2019.