French mall footfall climbs while sales slip, signalling a shift from purchasing to experiential visits
Executive summary: French shopping centre footfall increased in 2025 while overall sales declined slightly, indicating a gap between visitor numbers and spending. The trend reveals a shift in consumer behaviour toward experiential visits, posing revenue challenges for retailers and mall operators.
Who is involved: French shopping centre operators, retail tenants, consumers, and real‑estate investors.
Likely next: Operators are likely to expand entertainment, food‑service and service‑based offerings to capture value from footfall, while tenants may negotiate flexible lease terms.
In 2025, French shopping centres recorded higher visitor numbers even as their total turnover edged downward, according to Le Figaro. The divergence suggests that consumers are using malls for leisure, socialising or services rather than traditional retail purchases. This trend mirrors broader changes in how households allocate discretionary spending amid persisting cost‑of‑living pressures.
What's next — scenarios
Base: experiential upgrades stabilise sales (40%)
Retailers see modest revenue growth as footfall converts to higher spend per visit after operators add leisure and service zones.
- Introduction of successful experiential concepts by Q2 2027
- Tenant renewal rates improve year‑on‑year
Upside: experience drives strong sales rebound (30%)
Mall sales grow >5% YoY as dwell time and ancillary spending rise, boosting real‑estate yields.
- Consumer surveys show >60% prioritize experiences over goods
- Major brands launch pop‑up experiences in multiple malls
Downside: footfall growth stalls, sales keep falling (30%)
Continued sales decline pressures rents, raising vacancy risk and lowering valuations.
- E‑commerce share of retail sales rises above 20%
- Consumer confidence index drops more than 5 points
Timeline
- — «Parfois, je n’achète rien» : pourquoi les Français continuent de venir au centre commercial (Le Figaro — Économie)
Analysis — what this means
Sectors affected
- French shopping centre sector
- brick‑and‑mortar retail tenants
- real‑estate investment in retail assets
Historical parallels
- 2008‑09 global financial crisis – consumer spending fell while mall footfall remained relatively stable in some areas
- 2020 COVID‑19 pandemic – lockdowns cut mall sales sharply despite limited essential footfall for groceries and pharmacies
Key entities
Sources
- «Parfois, je n’achète rien» : pourquoi les Français continuent de venir au centre commercial — Le Figaro — Économie
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