The reasons why malls across the US are closing down more than ever
The American shopping mall is in crisis. We explore the variety of reasons why malls cannot keep their stories afloat and are becoming vacant wastelands. Some insiders are saying that a third of all U.S. shopping malls are projected to close as ‘Space Available’ signs go up all over the U.S.
It’s not about laziness. Going to the mall eats up half your day. Going online and buying what you need can be done before breakfast. And you don’t have to fight for a parking spot. People have busy lives. They don’t have time to mess around at an overpriced mall and fight the crowds.
Two important points I think were missed in the video: Class B and C malls account for most of the closings – elite class A malls are doing just fine, and are expected to out live the others through the next 10 years. Also, outdoor malls are faring better than indoor malls. I’m guessing it is the more prestigious shops that wish to more fully control the customer experience. Read more