Consumers who prioritize enjoying the shopping experience are significantly more likely to shop at malls, according to the report. Young shoppers also will flock to the mall this holiday. Almost half (49.6%) of primarily Gen Z shoppers (aged 18-29) will shop in malls compared to the 40.8% average.

"By providing facilities, gift wrapping services, and engaging activities, retailers can offer the enjoyable experiences shoppers desire," says Virtue. "Incorporating giveaways and hosting events within malls can also make a substantial difference in attracting customers and enhancing the overall shopping experience."

This often involves live performances, holiday-themed dining experiences, or even pop-up markets, Virtue says. "By offering a variety of activities and engaging features, retailers can generate excitement and exclusivity that entices shoppers to visit their stores."