NAICS Code 531120-08 - Shopping Centers & Malls

Marketing Level - NAICS 8-Digit

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NAICS Code 531120-08 Description (8-Digit)

Shopping Centers & Malls are commercial properties that house multiple retail stores and other businesses. These properties are typically owned by a single entity and leased to individual businesses. They are designed to provide a convenient and centralized location for consumers to shop, dine, and access various services. Shopping Centers & Malls can range in size from small strip malls to large regional malls that span multiple levels and offer a wide variety of amenities.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531120 page

Tools

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

Industry Examples of Shopping Centers & Malls

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

History

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.