Tools commonly used in the Shopping Centers & Malls industry for day-to-day tasks and operations.

• Point of Sale (POS) Systems
• Inventory Management Software
• Customer Relationship Management (CRM) Software
• Digital Signage
• Security Systems
• Facility Management Software
• Energy Management Systems
• Parking Management Systems
• Wi-Fi Networks
• Mobile Applications

Common products and services typical of NAICS Code 531120-08, illustrating the main business activities and contributions to the market.

• Fashion Retailers
• Electronics Stores
• Department Stores
• Grocery Stores
• Restaurants
• Movie Theaters
• Fitness Centers
• Beauty Salons
• Banks
• Pet Stores

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• LEED Certification: Leadership in Energy and Environmental Design (LEED) certification is a globally recognized symbol of sustainability achievement. Shopping centers and malls can obtain LEED certification by meeting certain criteria such as energy efficiency, water conservation, and indoor air quality. The certification is provided by the U.S. Green Building Council.
• Certified Shopping Center Manager (CSM): The International Council of Shopping Centers (ICSC) offers the CSM certification to shopping center professionals who have demonstrated their knowledge and expertise in the industry. The certification covers topics such as marketing, leasing, operations, and finance.
• Certified Retail Property Executive (CRX): The CRX certification is also offered by the ICSC and is designed for shopping center professionals who have demonstrated their expertise in retail property management. The certification covers topics such as marketing, leasing, operations, and finance.
• Certified Shopping Center Marketing Director (CSMD): The CSMD certification is offered by the ICSC and is designed for shopping center marketing professionals who have demonstrated their knowledge and expertise in the industry. The certification covers topics such as marketing strategy, advertising, public relations, and social media.
• Certified Shopping Center Security Supervisor (CSSS): The CSSS certification is offered by the ICSC and is designed for shopping center security professionals who have demonstrated their knowledge and expertise in the industry. The certification covers topics such as emergency preparedness, risk management, and security operations.

A concise historical narrative of NAICS Code 531120-08 covering global milestones and recent developments within the United States.

• The Shopping Centers & Malls industry has a long history dating back to the 1920s when the first shopping center was built in Kansas City, Missouri. The concept of a shopping center was revolutionary at the time, as it combined multiple stores in one location, providing customers with a one-stop-shop experience. In the 1950s and 1960s, the industry experienced significant growth, with the construction of regional malls across the United States. These malls were designed to be larger than traditional shopping centers, with anchor stores such as department stores and supermarkets. In recent years, the industry has faced challenges due to the rise of e-commerce, with many brick-and-mortar stores struggling to compete with online retailers. However, shopping centers and malls have adapted by incorporating experiential elements such as entertainment and dining options to attract customers. In the United States, the Shopping Centers & Malls industry has a rich history, with the first indoor shopping mall, Southdale Center, opening in Edina, Minnesota in 1956. The 1980s and 1990s saw a boom in the construction of malls, with developers building larger and more elaborate centers. However, the industry faced challenges in the 2000s due to the rise of e-commerce and the Great Recession. Many malls struggled to attract customers and anchor stores, leading to the closure of numerous malls across the country. In recent years, the industry has adapted by incorporating technology and experiential elements to attract customers, such as virtual reality experiences and pop-up shops. Despite these challenges, the industry remains an important part of the retail landscape in the United States.

The anticipated future trajectory of the NAICS 531120-08 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Shopping Centers & Malls industry in the USA is positive, with a projected growth rate of 2.2% over the next five years. The industry is expected to benefit from the continued growth of e-commerce, as retailers seek to establish a physical presence to complement their online sales. Additionally, the industry is expected to benefit from the growing trend of experiential retail, with shopping centers and malls offering a range of entertainment and dining options to attract customers. However, the industry will face challenges from changing consumer preferences and the ongoing impact of the COVID-19 pandemic.

Recent groundbreaking advancements and milestones in the Shopping Centers & Malls industry, reflecting notable innovations that have reshaped its landscape.

• Virtual Reality Experiences: Some shopping centers and malls are incorporating virtual reality experiences to attract customers and provide a unique shopping experience.
• Smart Parking Systems: Shopping centers and malls are implementing smart parking systems that use sensors to guide customers to available parking spots, reducing congestion and improving the customer experience.
• Mobile Apps: Many shopping centers and malls are developing mobile apps that allow customers to easily navigate the mall, find stores and deals, and order food and drinks.
• Pop-Up Shops: Shopping centers and malls are increasingly offering space to pop-up shops, which allows retailers to test new products and concepts without committing to a long-term lease.
• Sustainability Initiatives: Some shopping centers and malls are implementing sustainability initiatives, such as using renewable energy sources and reducing waste, to appeal to environmentally conscious customers.