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Forty percent of consumers will pick a mall or shopping center to visit based primarily on the restaurants located there, according to a report from JLL.
"Every landlord today is thinking about increasing the percentage of [gross leasable area] to food," said Naveen Jaggi, JLL's head of retail advisory business in the Americas, speaking to CNBC. "The old model of having a food court ... was a precursor to having a food hall."
Food tenants boost business for other kinds of tenants, Jaggi said. According to JLL research, customers who dine at a mall will on average spend 35 minutes more browsing in stores than those who do not dine at a mall. Foot traffic tends to spike at the stores of those retailers situated right near the food options, according to the firm.
"What we are hearing from Millennials is [that] they want authentic dining experiences," Jaggi said. "There's a direct parallel between the quality of food and [the] time spent in a mall."
By Brannon Boswell
Executive Editor, Commerce + Communities Today
