Macerich Sees Mall Advertising as Compelling Opportunity for Real Time Engagement
Malls today have become much more than places to shop. Gen Z consumers, in particular, are increasingly seeking authentic, in-person experiences and places to connect offline. This emergence of malls as “third spaces,” where people gather and engage with the physical world, presents a compelling opportunity for advertisers, says Petra Maruca, senior vice president of business development at Macerich (NYSE: MAC).
“Rather than competing for attention within crowded digital feeds, out-of-home advertising (OOH) captures consumers in environments where they are actively engaged with the world around them,” Maruca says.
Despite these optimum conditions though, mall media remains an underutilized channel within OOH advertising, she says. Macerich is working to change that.
Maruca spoke with REIT.com about the evolving role of the mall, the importance high-quality malls can play in a retail brand’s strategy, how the Macerich Media Network allows brands to maximize campaign effectiveness, and more.
How has the role of the mall changed for younger generations in recent years?
Gen Z is powering a well-documented mall resurgence across the country, and top malls like Macerich’s provide physical experiences that are like “counterprogramming” for the digital/AI era. All people, but young people in particular, are craving what’s real.
Gen Z over-indexes when it comes to spending on trend-forward fashion, dining, and entertainment and many of our properties are actively adding exciting new restaurants and entertainment options, as well as the retail brands this generation adores, from Aritzia and Edikted to Garage, Reformation, and Coach.
A great restaurant example is Din Tai Fung, which we have brought to a number of Macerich properties. This is an interactive experience, where you can get up close to watch Din Tai Fung chefs create the brand’s famous 18-fold soup dumplings. For many of our socially-native guests, taking pictures and posting about it is part of the fun.
What about older generations, have their preferences/habits stayed more consistent?
Millennials and Gen X together account for about 50% of all household spending, making them the backbone of retail today. We are keenly aware that even as we elevate and transform our properties to align with Gen Z and Gen Alpha preferences, we must continue to deliver the experiences that older generations also prize.
It’s interesting that while Gen X is often overlooked by marketers, they remain the highest-spending generation today, representing 27% of total household spend. Much of this spend is shaped by Gen Z influence, as Gen X supports teenagers and young adults while also absorbing cultural trends.
In terms of category spending patterns, millennials and Gen X still drive sales in apparel, restaurants, and fitness. These generations grew up going to their favorite malls and still enjoy spending time there, and I think that for many people, it’s gratifying to see how their children are finding their own reasons to love going to the mall.
How is Macerich working to elevate and transform its properties today?
Macerich is sharply focused on boosting foot traffic, adding dwell time, and continuing to increase operational performance in order to make our great centers even better. This means reinvesting to add more top-tier and emerging retail, restaurant, and entertainment brands.
Last year, Macerich delivered record-breaking leasing momentum with approximately 7.1 million square feet leased in 2025, up 85% over 2024. We continue to attract leading retailers such as Abercrombie & Fitch, Alo Yoga, American Eagle, Apple, Aritzia, Eataly, Edikted, gorjana, lululemon, Warby Parker, Zara, and many more of today’s most exciting concepts.
