James Ricker However, the stock market for Sports Authority went down drastically over a course of several years. R.I.P. Sports Authority, 1985 - 2016.
@@anonymousx1990 “Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.
@@anonymousx1990 “The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The Rothschild brothers of London writing to associates in New York, 1863.
My local mall is built right across the street of one of the county's high schools. The county has 13 high schools and 2 malls. The mall opened in 1985 and is still thriving with over 200 stores
Tj Samson Im from the philippines too. the downside of having too much malls in our country is too much traffic and the closure of small and medium business. I like malls, but too much of them can be a burden..
Daniel O'Brien the upper class has grown, the middle class has shrunken and the poor class grows. Do the math. Malls can no longer cater to the middle class. They must appeal to high end or combine low & middle.
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” - Napoleon Bonaparte, Emperor of France, 1815
I didn't go to the mall growing up, and honestly, I find shopping at malls stressful rather than fun. Going from one store to another, getting lost, finding that everything they had was crazy expensive, chasing my siblings around. I'd rather just go to a regular store and get the shopping over with, that or buy my things online.
I say turn them into senior living centers, put apartments on the top floors, then stores, pharmacys, etc. on the lower levels. That way everything they need is indoors, there's plenty of parking outside for family to visit, and add security at the entrances.
I remember when my grandmother scoffed at malls saying it took away from downtown businesses locally. After the postwar boom, developers were fulfilling a need for millions of families that moved to the suburbs by building these massive shopping centers. More than a half a century later the pendulum is shifting the other way, specialty store and entertainment venues have eclipsed the shopping mall.
There is less disposable income for the middle class than ever before. However, luxury malls are doing just fine for the top 1% and affluent tourists who also come to the US to buy up property in cash, driving up price, and leaving the middle class to struggle even more.
Two important points i think were missed here. 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.
This has to with death of the middle class. Low end malls with mid range shops are dying because the middle class itself is dying. People can only afford to shop at Walmart and Target or online. The upper class wealthy people are doing well though so high end malls with prestigious shops are thriving. It is a sign of the times. Already massive inequality is growing and squeezing out the middle class. America is rapidly becoming a society of have and have nots.
N.J.L H. No. There are plenty of malls that are outdoor and contain only 'premium' stores - no outlets here. And yes, these are called malls. They are almost always held by the same owners. These owners are making decisions where to invest - either in indoor malls, or outdoor malls - they are all malls, and indoor malls are loosing. This trend runs across the county, no matter what the climate. Many of the higher profile companies represented in the indoor malls want to control their own customer experience. They feel they can accomplish this better apart from the indoor mall experience - stand-alone being best.
I personally see nothing wrong with any of this. In fact a more informed and money conscious consumer and a better thing. Change happens. if you can't adapt with the change, then you disappear. same for economy and business as with nature
Sad things is CEOs and people that actually make bad decisions never suffer the consequence. But a lot of people loose their jobs, and customer loos the faith in a brand.
why is it that I saw brand new modern apartments with a white picket fence in front all painted nice and white next time a few months later went by same apartments dirty fences leaning over Almost completely down the ground. looked a mess with very expensive apartments with gated security just a few yards away. nice neighborhood now there was no reason for this what so ever. the people living around this upset no excuse for this kind of thing can't say who lived in the apartments with the nice white picket fence.
My childhood mall is still thriving. The Potomac Mills Mall in Woodbridge, VA open in 1985 and has 200+ stores on one single level. It has been a popular tourist attraction. The mall is anchored by JC Penny, Sears Outlet store, TJ Maxx and Marshall Home Goods. We also have an AMC Theater on the front side of the mall. The Ikea grew so big that it built it's own building across the parking lot of the mall.
Another reason for the decline of shopping malls as well as traditional retail in general is that their main target customer base (women) aren't willing to go out, shop and spend hours shopping as they did in the past. Now that more and more women are working outside of the home, they aren't going to want to spend their precious time off in someone's store.
David Reynolds - exactly. You’ve got to get showered and dressed (one hour) drive to the mall. find a parking spot and hike to the door (30 min) walk around a huge store looking for what you need and it ain’t there and you hike to the other side of the mall to the other anchor store to walk around that place looking for what you need. (2 hours) Big waste of precious time. Go online, find 20 places that has what you need, read that product reviews shows 3,000 people gave it 4 and a quarter stars, add to cart, make your purchase...(5 min) go pour a glass of wine and relax.
it's not that "people want discounts." it's that if a product costs $5 one place and $10 somewhere else, what makes sense? plus people suck, so the less you are forced to interact with people the better.
No. It really didn't. There's a lot of things that could be blamed but the main thing is, Malls refused to change with the changing times. That's why a lot of big companies have gone under or are going under. They refuse to change. They refuse to lower their prices, they refuse to offer more unique products, they refuse to entice the customer to go there in the first place. The CEOs are just there to get a paycheck, they dont care. The employees are underpaid and overworked, so they dont care. No one cares.
My hometown mall was starting to die, so they began to renovate it. They had taken out the fountains and the trees, and I suggested that they put them back, because they lend a flavor to the experience of shopping, but the mall manager said that both tended to block the line of vision (to glimpsing store fronts). That's too bad, because one way that malls are to save themselves is to make themselves a unique place where people like to spend time and relax--and fountains and trees induce a feeling of relaxation and tranquility. What do the rest of you think about this?
Mall employees are not the nicest either with zero knowledge on most of the stuff they sell...They'll even pretend to know about the product and tell you what they think you want to hear....body language....micro aggressions......crowded mall elevators and bathroom.....Garbage Mall food......STRANGE PPL....weird stares.....all of that mixed together to form 1 big mess.....
Ghana Mafia Lmao I actually knew what was I talking about when it comes to sell clothes in retail that's just stereotypes, u have to look at it this way retail for employees are mainly aged range from 16-22 and you have to kind of tell who actually knew their own stuff more than who was just there to get a paycheck, plus that being said I actually cared about my job than most of the little kids I've worked in the past 7 years of retail experience
Jesse Simpraphone Regular Malls are just stupid....I prefer online or outlet malls....Outlet mall employees are more knowledgeable but snobbish too....Regular malls are just a waste of space....those girls working in the mall are more concerned with their looks and finding dates than helping customers.
So Sad... Memories of going to the mall to meet up with friends and meet new ones. Dropping by the music shops to check out new tunes, the food court, picking up some new threads and kicks and checking out a new flick. Something the new generation will miss out on
49jubilee LOL. Ain't that the truth. You know the social interaction also. I'm settled down now but I can't tell you how many girl "Friends" I met and other buddy's I met just going to the mall. I know their are clubs, spring breaks and so on but it's not the same than being " sober " and just navigating the different personalities. Ohh yeaa.. And that mysterious corner known as the arcade.. Lol
that's why you need to make the mall itself an experience. coaster, water park, museums, indoor rock climbing and skydiving. paintball courses. Center the mall on the experience and put the stores on the side.
In South Korea, housing is combined with malls, and every mall has at least one big supermarket, and tutoring schools for the kids too. Hardly any reason to leave home, and one is less inclined to spend the time/energy to save a buck or two. These US mall buildings should become affordable housing, especially for all the babyboomers that are not going to be able to drive in the near future.
one mall that did a great job of restructuring for experience is the walden galleria in Buffalo they added a Dave and busters , electric go karts that go crazy fast .also they added age restrictions inside
Amazon is not always “deep deep discounts”. Shop carefully there because they are introducing confusion tactics that end up costing you. Amazon is more convenience that cost savings.
In some countries like the Thailand, Malaysia or the Philippines, malls are not just shopping destination, they're recreational centers that attract people for a whole lot of reasons. You will always find something to do in their gigantic malls apart from buying something.
One of the other reasons malls are losing people is cause they kicked out all the kids, they got rid of the arcades and toy stores and some of them even got rid of the food courts as well. So if kids at a young age are not exposed to the malls they won't care for them when they are able to drive and hang out in. Least the malls around me went to upscale and wanted to keep the young out, so you more or less killed your future customers going there when of age to travel on their own.
Doctor's offices, legal offices, tax offices, pharmacies, mini libraries, dentist offices, optometrists and more can move into that retail space including restaurants. Gyms, spas, florists and other service businesses could thrive in a mall. Retail items like like large rugs and furniture need space. Who would by a vacuum cleaner or a bed on the internet? Mall owners were charging far, too much for rent is the other unreported part of the story.
Fone Star you are right but online shopping doesn't help. You can shop pretty much anywhere as long as you have internet access. It takes a fraction of the time. No need to travel to a mall shopping store to store. You can easily compare prices and get the best deal. You save a lot of time. You can relax and do whatever you like.
Is it that people like shopping from home? I know I hate going to mega stores where it takes you an hour to find the one thing you want. Maybe go back to smaller specialty stores.
When I a in Asia like Singapore or Philippines the malls do really well there. There are other things happening in the malls like live shows and nice place to go to get out of the heat.
a mall that was dying here in ft worth texas was turned into a mexican style mall, with lots of independent vendors and even has a side of the mall dedicated to smaller vendors like flea market style and lots of food vendors too. This mall is NEVER dead! and its still looks very clean and attracts all races of people.
Mall have always been tedious. They have the same stores. I have always shopped for experiences. I only spend 10 percent on clothes. If malls relied on me, they would all close.
A big factor is that malls now discourage teens from making the mall their social hang-out place by placing strict limits on when they can be there without parents. ...and, admittedly, the past generations probably didn't spend a huge amount at the mall, but it established the mall as the place to shop for them into their higher-spending 20s and 30s.
The mall shown is Lincoln mall in Matteson, IL. They just started to demolish it on June 8th, 2017. I was heartbroken. It closed about 3 years ago. I grew up going there :'(
My city's biggest mall is always full during weekends. You can't find a decent parking space and lots of trucks park on the grass. It was renovated about a year ago, the food court looks modern and everything is ecofriendly (no disposable dishes). People just followed. But the Sears parking lot is always half deserted.
I don't think malls are dying, at my local mall, I always see someone I know, usually multiple people. It's rather crowded as well. I do live in Australia though, not the US
Although people didn't have the Net, online reviews, etc. in the '70's when I grew up with them, we didn't go shopping at the mall wondering if an item was top quality or not. You bought basic items in stores pretty much knowing what you were getting. If you wanted something of higher caliber, you shopped at the higher caliber anchor stores. We loved the malls for the "people" atmosphere & discovering new things by our leisurely browsing. You could see & hold the object. Malls were a great way to pass time & maybe meet someone new. Walmart/internet won't replace the fun at the mall. In the case of my area, it was the gangs & unruly teens who killed off business. Signs of the times. :(
I agree with everything you said, but please say that you don't mean black people when you say gangs, because people are blaming the death of malls on black people, especially the ones who haven't done anything wrong. Have a nice day!
I am surprised that when the lady mentioned a change in shopping habits, that she did not mention that a lot of people are now buying local. There has been a growing movement, especially among millennials, to shop at local mom & pop stores, rather than spend their money at a big chain store.
Mall closings are sometimes because of real shoppers being ran off by thugs trolling by the hundreds on the weekend just hanging out looking for trouble and a chance to shoplift . Real shoppers feel unsafe and just shop a safer , but less fun way , online . This may be a politically incorrect answer but it's sad and true .
Retail changed over the years. People used to shop downtown til they start building shopping centers. Malls became more obvious now online shopping taken over.
You're right about the fact that e-commerce only accounts for a portion of the decline in sales at brick and mortar stores. Small local stores and thrift stores are the way to go, with online shopping for what one can't get locally. We have to prioritize the limited amount of time and energy we have and not waste it by wandering aimlessly through malls.
I work at Costco and I can flat out tell you it's because people want their stuff cheap. Why pay 3x as much in a mall when a department store or online sells the exact same product for cheaper? We're not made of money...
Me too!! If want something I'd compare prices then consider going to Ebay for a better price if it's Ebay for a better price. And so far I have found items that I like for lesser price.
I'm not made of money either. I don't spend my money like crazy but sheesh I'm trying to make ends meet while my wages remain the same!! And if I can't afford it then I don't need it or save money until I can afford the item or I tighten up my belt and be content.🤷♂️🤷♂️🤷♂️🤷♂️
In the UK several big malls have opened up over the past few years. The two Westfields in London seem to be doing good business, and Westfield (based in Australia) wants to take over an existing mall in south London (the Whitgift Centre in Croydon) and expand it. Then again some town centre malls are contracting or closing because people want to drive to out-of-town shopping malls or those with a lot of parking (or both) like the Westfields, Bluewater and Lakeside. I think there's space for a big drive-to mall on the west side of London; there are two on the east but none over here; but that would take revenue from the town centres here.
Malls in my area were in trouble before the rise of ecommerce and before the Recession. Every couple of years, a new mall would open, often adding a second, or even a third location for an anchor store in a county of 350,000 consumers. This is not counting at least two malls in the other major city in the county, of which I visited one, once. I would say since the mid 90s, even the busiest mall had a 10% vacancy rate, . The older malls shifted to comic book stores, etc and had vacancy rates closer to 20-25%. Malls also became investments for massive corporations, which tend to concentrate on getting money out of the mall rather than putting money into maintenance. One did an "upgrade" - new tile, etc. but never got around to fixing the roof.
Happily, shopping centres like Westfield are still doing well here in Australia. If a business goes down the gurgler here, it's mostly due to poor management. A recent business failure here was Dick Smith Electronics. The person who's name graced the business, sold the business to the grocery chain, Woolworths several years ago and they in turn sold DSE onto some other company. Dick Smith himself had moved on to other interests but the electronics store chain that bore his name went into receivership roughly midway through last year and the stores themselves closed late last year. The internet did not figure in that collapse but that's not to say the internet could not have caused the collapse. In different circumstances the 'net might well have caused DSE to go down the gurgle-hole.
Malls were great in the 90's when the mall catered to Teen/Kids and had a bunch of really cool, unique stores. Now they just have overpriced clothes, shoes and jewelry. There's no reason for me to go to a mall anymore.
Didn't realize malls were struggling as much as this video and comment section are claiming. The nearest mall to my place has a food court located about hundred feet from a sears, Abercrombie, and Macy's, and the other two anchor stores (dillards and jc penny) are located on the other side, but they are close to the movie theatre and two other restuarants outside. Most of the people are centered around there and walk between the two places, traveling along and finding all the smaller stores like think geek, gamestop, as well as indoor rock climbing, lunar mini golf, skate place and other attractions they bring in from time to time. That mall has always been thriving, as well as the other one nearby which hosts a more modern approach with 2 easily reachable floors, and, at times, a third floor. They have a Round 1, movie theatre, several restuarants littered around (and not concentrated in2 spots) with both indoors and outdoors attractions. They are always full of people, and while I do see fewer people nowadays inside the bigger more expensive stores, when I go in during holiday season, when a new movie releases, or just when it's a nice day out on a weekend, there are always people walking around, talking, and having fun.
It's booming in Sydney Australia. The local malls all around the city are usually always busy, I can never find parking there. Makes me wonder if we are approaching another 2008 type of recession.
Between 2006 and 2015, been to mall twice. One was shoes, last was jacket. Ain't been back since and for 9 years I didn't. My Amazon and Walmart online is full of past orders. Mall? Not sure where they all are in the city I live in!
The reason MOA, the 2nd Largest Mall in America, has been able to stay on its feet is because of things like Lego Land, the Aquarium, and of course Nickelodeon Universe, which brings in more than the average shopper. It brings in the Tourist aswell
When I was growing up, malls had a special place. I remember my mom would go shop and I would hit all my favorite stores: Electronic Boutique, Hobby Town, arcade, then the food court. They also had the KB Toy Stores and the discount game rack was a big hit for me, and sometimes I could buy something off there. Usually the food court and arcades like the two top spots. Go in, play some, go grab samples from the Chinese food place, then come back to the arcade. This one mall I went to had a pet shop and I would go in there and look at all the dogs and sometimes buy a little pig ear for my dog back at home. It was fun times. Then around the early 2000s, I just never went back to the mall. I think in the last 10 years, I only recall ever going to the mall maybe once or twice. Personally I think to make malls profitable they need to offer something aside from stores. They need to offer some sort of amusement like arcades or a fun center where you can go in and do stuff with the family. Just having stores a bit boring. I don't really see anything unique anymore. I go in a mall and yeah, I'm like I can buy that same exact item from Amazon or eBay and I don't even look at it or even price compare. I just buy it off Amazon or eBay when I can.
The only lyrics reason my mall is still open is because it has a movie theater which brings in lots of kids/teens and some families, which then gets them to shop at some of the stores. If it weren't for that movie theater idk how it would be
One word answer, “Amazon “. Young people shop online for everything. I’m 73 and now even I shop online. I get delivery in a few days right to my porch. I buy clothes, stamps, tools and cleaning liquids online. It is easy and cheap. I do go to Home Depot for some things for my house but I haven’t been inside a mall in two or three years.
Besides the internet, I also think that lack of variety killed things. Back in the day, you could go into any mall in the country and find pretty much the same stores, JC Penny, Gap, Claire's, Sears, Footlocker, etc. What reason is there to go to a mall across town when the one near you has all of the same stores? There was never a mall that had something special to make you go out of your way to get there. Also redundancy within the individual malls themselves. In high school in the 90s, one popular mall had 7 sneaker stores, 5 sporting goods stores, 4 card shops. Even then, I wondered why there wasn't more variety in types of stores.
this is really shocking to me all the malls in my area are huge and constantly filled with people, kids go there to hang out and stuff on the daily, and almost everyone i know does their clothes shopping almost exclusively there. I wonder if this is just based on location, I live in northern California, if you reply what are the malls like in your area??
People are waking up is what it is. They're falling out of this matrix. People are realizing a shirt is a shirt its just name tagged differences. There are stores opening all over the world now where you can get clothes, very nice clothes dirt cheap. I walk around looking like a CEO of a business with spending very little. Closet full of polos at 3 dollars a piece as well as khaki shorts & slacks under 10 dollars. All brand new no good will not that I have anything against good will, just making a point. Glad to see people waking up .
Hit it right on the head, and it's sad, because when I was growing up, going to the mall was kind of like going to an amusement park. It was great just to look at all of the stuff available and the appearance, fountains and plants, tall ceilings with natural light coming in. I was never a big mall goer, but I did love to go when I did. It's sad that an entire generation of people will very quickly lose that experience, kind of like people are losing the experience of what life before Internet was like, something I also still remember, though I'd never want to return to those days (but there is something about it that brought people closer together).
The description of this article include "We explore the variety of reasons why malls..." but you really didn't explore them. BI stated their opinion with no facts or figures. You can do better!
But is it mostly suburban malls or inner-city malls as well? I live in Norfolk, Virginia and we have a mall downtown called MacArthur Center, and to my knowledge it's been going strong since its opening in '99 even without landing an elusive third anchor. Maybe the trend of dying malls, isn't only about technology, an economic crash, and changing habits, but also population and demographics. From what I heard there's a trend of people moving back into cities for the culture, convenience, and to be close to work, etc. I'm just wondering if that has something to do with it.
I know of a mall that I used to go to a lot when it was thriving. It's really empty now, and the only thing keeping it alive is a multi-story Asian supermarket. No clue how that happened.
Malls were dying well before Amazon because many of the burbs that supported them aged out demographically and stand alone store blocks became the new design for retail. A massive contraction of vendors went hand in hand with their closing as many chains simply ceased to exist as the crowds that they counted on vanished.
A lot of things have changed over the last 2 decades. The biggest one, of course, is online shopping, Amazon, eBay, etc. Amazon for example, has Amazon prime which most people will get their order the next day. It is a lot more convenient and saves time plus money. A lot of retail stores I have been in recently are pushing the, "If you can not find a product, you can search on our website for thousands of products and have it shipped directly to your favorite store." Retail stores also offer pick up in store as well. I can see this making big headway in retail, as like in this video, people are looking for real world reviews with products.They can look in the comfort of their own home, without the nagging of a salesperson to buy something they may not like. Most retailers will even offer free shipping to their stores to bring back that foot traffic they have lost from the internet. Another big hit to the malls of America are big retailers like Wal-Mart. Even though now, Wal-Mart is seeing a drastic decrease in sales and customers; their deep discounts along with convenience, have brought in some of the malls foot traffic. Consumers these days do not want to wander around an indoor building and be in huge crowds. Hopefully these mall developers will take lesson and switch their game.
I'm sorry for hurting your feelings; you're a sensitive snowflake, I understand. I'm simply pointing-out how you brilliantly (apparently accidentally) pointed-out an inconsistency in the story. Let me spell it out for you Dux. The story blamed much, if not most of the decline of the U.S. malls on the internet. But how do they explain that other countries (with less money to spend than U.S. consumers) have the internet, but their malls are thriving? And this is true throughout much of the world, not just Poland. So your comment is spot-on, and debunks the majority of their argument.
Tony from Sacramento My apologies-- I clearly misunderstood your previous comment. Yes, it does seem odd that countries with less wealthy populations are opening up more malls than ones with a more established middle class. Online shopping isn't really a thing in Poland, despite the widespread availability of the Internet. I think it might have to do with increasing westernization, an emerging middle class, and lack of infrastructure in terms of shipping. Just my two cents.
The young women here don't mention the fact that the whole mall experience developed with the growth of suburbia and long before the internet. Then along came e-commerce and Amazon and others. Movie theaters as solutions? They are too young to remember that malls built movie theaters as part of the complex back in the late 60's and 70's and it DID NOT save them beyond the first 20 years. The movie places were profitable for a while but then with the coming of dvd's, and cable movies and then the internet, it's over. The only mall I know that is hanging on or doing moderate business is an upscale place with some real high end stores, and more upscale restaurants in the block next to the mall.
What about websites that have pricing, & reviews, but you can't order anything on the site. That would force consumers to go outside & see the world, & buy the product in person.
I would Love to see the A&W Root beer stands come back, where we would cruise from one to another, and use our hands to wave at each other, and NOT used to shoot. Those were the blessed old days, where everybody respected each other, and had kindness.. What OVERPOPULATION has done, is put us in the gutter.
I don't know why they close all the shopping malls and meanwhile build these huge commons where each store has its own individual building. In a mall you park at one spot and walk throughout the whole thing. But those shopping commons are terrible, and you have to park at each store which is a bane in winter or when you have children. For example, the largest mall in North America is West Edmonton Mall which takes up 24 blocks. There is also the South Edmonton Common which has many stores too, but it occupies over a quarter section and you have to drive around it everywhere (and that's green??) It sucks with a passion, but that's what's being built throughout North America instead which I think is so stupid. Long live the mall, and no more shopping commons.
The upkeep on these huge structures is staggering. If every retail space is not filled and paying the rent, then it will fail. If you walk through a small or average size mall and count more than a dozen empty retail spaces, then you can pretty much be assured that mall won't be around for long. Retail is not what it used to be, young people are more interested in social media than hanging out at the mall. Older people do not want to walk around and gawk at mall store anymore. Anchor stores are failing daily. Mall have ran their course and served their purpose, now its time to use the land they sit on for something else.
The reason I stopped shopping at malls is because they rarely had what I wanted. The few times they would have what I wanted, they would either overcharge for it or not have my size.
Malls were a social center. Back when there wasn't social media and the internet this is where we hung out.
Dimitri Borozny, did your dad give specific reasons for his speculation?
Or in smaller communities we hung out in front of the variety stores or the pool hall.Then you would get a reputation!
Yup when I was a kid that’s where we all went on the weekends
Dude with or without the internet and social media people go to the mall and hang out to buy stuff to this day so you sound ridiculous
Back when the community was not so divided. Michelle Obama did her best to rally everyone against everyone else.
The cost of housing keeps rising but people's salaries aren't.
James Ricker However, the stock market for Sports Authority went down drastically over a course of several years. R.I.P. Sports Authority, 1985 - 2016.
And guess who is sucking the money out? The goddamn bankers.
AMEN!!
@@anonymousx1990
“Let me issue and control a nation’s money and I care not who writes the laws.”
Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.
@@anonymousx1990
“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.”
The Rothschild brothers of London writing to associates in New York, 1863.
Also they built way too many of them.
aseeyah12 More of them than high schools.
In my area there are 3 shopping malls and 15+ high schools
My local mall is built right across the street of one of the county's high schools. The county has 13 high schools and 2 malls. The mall opened in 1985 and is still thriving with over 200 stores
aseeyah12 There are too many malls here in the Philippines some are even so big but they stay alive because of aircons.
Tj Samson Im from the philippines too. the downside of having too much malls in our country is too much traffic and the closure of small and medium business. I like malls, but too much of them can be a burden..
aseeyah12 yea
they are going down because people do not have the money
Daniel O'Brien the upper class has grown, the middle class has shrunken and the poor class grows. Do the math. Malls can no longer cater to the middle class. They must appeal to high end or combine low & middle.
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”
- Napoleon Bonaparte, Emperor of France, 1815
If People Have No Money. Commerce Fails
Not everyone wants to spend 50-70 dollars on a pair of Levi's
Levi's that they made in sweat shops for less than a dollar while paying their child labors ten cents a day.
lol or a 60 dollar hoodie from Abercrombie
Anymus they do that on the internet. DF?
When visiting USA, never paid more than $30 for Levi’s.
i have not been in a mall in almost a decade. i remember going to them almost every weekend when i was a teenager.
Jack K are you conservative or liberal?
I didn't go to the mall growing up, and honestly, I find shopping at malls stressful rather than fun. Going from one store to another, getting lost, finding that everything they had was crazy expensive, chasing my siblings around. I'd rather just go to a regular store and get the shopping over with, that or buy my things online.
@Waranle why does it matter if he’s liberal or conservative
I say turn them into senior living centers, put apartments on the top floors, then stores, pharmacys, etc. on the lower levels. That way everything they need is indoors, there's plenty of parking outside for family to visit, and add security at the entrances.
Great idea!
Put a strip club in there too to keep them entertained.
Flash lol
Flash 😑😒
Great idea...
I remember when my grandmother scoffed at malls saying it took away from downtown businesses locally. After the postwar boom, developers were fulfilling a need for millions of families that moved to the suburbs by building these massive shopping centers. More than a half a century later the pendulum is shifting the other way, specialty store and entertainment venues have eclipsed the shopping mall.
Consumers are broke that's why the malls are slowing down.
There is less disposable income for the middle class than ever before. However, luxury malls are doing just fine for the top 1% and affluent tourists who also come to the US to buy up property in cash, driving up price, and leaving the middle class to struggle even more.
oldtwins also dont forget the people who shop there and live beyond their means.
you can't try on clothes on Amazon.
no, but get it try it on.. if it doesnt work out you can return it....
Other places sell clothes that aren't as expensive.
@Blue squirtle like what
@@yousaypotatoesisaypootato6977 Goodwill, Wal-Mart
I buy clothes through Haband online. I just checked and you can buy clothes on amazon. It even has a size chart.
Two important points i think were missed here. 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.
This has to with death of the middle class. Low end malls with mid range shops are dying because the middle class itself is dying. People can only afford to shop at Walmart and Target or online. The upper class wealthy people are doing well though so high end malls with prestigious shops are thriving. It is a sign of the times. Already massive inequality is growing and squeezing out the middle class. America is rapidly becoming a society of have and have nots.
bjj
"outdoor malls" are called 'outlets' bro
N.J.L H. No. There are plenty of malls that are outdoor and contain only 'premium' stores - no outlets here. And yes, these are called malls. They are almost always held by the same owners. These owners are making decisions where to invest - either in indoor malls, or outdoor malls - they are all malls, and indoor malls are loosing. This trend runs across the county, no matter what the climate. Many of the higher profile companies represented in the indoor malls want to control their own customer experience. They feel they can accomplish this better apart from the indoor mall experience - stand-alone being best.
Outdoor malls are easier to maintain, and the energy bill just doesn't compare.
Man this is sad. I used to go to the mall all the time when I was little.
I personally see nothing wrong with any of this. In fact a more informed and money conscious consumer and a better thing. Change happens. if you can't adapt with the change, then you disappear. same for economy and business as with nature
Sad things is CEOs and people that actually make bad decisions never suffer the consequence. But a lot of people loose their jobs, and customer loos the faith in a brand.
why is it that I saw brand new modern apartments with a white picket fence in front all painted nice and white next time a few months later went by same apartments dirty fences leaning over Almost completely down the ground. looked a mess with very expensive apartments with gated security just a few yards away. nice neighborhood now there was no reason for this what so ever. the people living around this upset no excuse for this kind of thing can't say who lived in the apartments with the nice white picket fence.
People change with time retail malls and stores cannot compete
Except I don't do my clothes shopping on Amazon I prefer to physically buy it from the store so I could actually see how big it is or how small it is.
Especially shoes like Uggs
My childhood mall is still thriving. The Potomac Mills Mall in Woodbridge, VA open in 1985 and has 200+ stores on one single level. It has been a popular tourist attraction. The mall is anchored by JC Penny, Sears Outlet store, TJ Maxx and Marshall Home Goods. We also have an AMC Theater on the front side of the mall. The Ikea grew so big that it built it's own building across the parking lot of the mall.
Davin Peterson eyyyy I am from here too amigo
AMC for life
Same. Kind of spooky clicking a random video and find people go to the same mall as you.
Ayeee im from Woodbridge go there all the time
Davin Peterson I love about 40 minutes from there and the malls are doing pretty well too
Another reason for the decline of shopping malls as well as traditional retail in general is that their main target customer base (women) aren't willing to go out, shop and spend hours shopping as they did in the past. Now that more and more women are working outside of the home, they aren't going to want to spend their precious time off in someone's store.
David Reynolds - exactly. You’ve got to get showered and dressed (one hour) drive to the mall. find a parking spot and hike to the door (30 min) walk around a huge store looking for what you need and it ain’t there and you hike to the other side of the mall to the other anchor store to walk around that place looking for what you need. (2 hours) Big waste of precious time. Go online, find 20 places that has what you need, read that product reviews shows 3,000 people gave it 4 and a quarter stars, add to cart, make your purchase...(5 min) go pour a glass of wine and relax.
it's not that "people want discounts." it's that if a product costs $5 one place and $10 somewhere else, what makes sense? plus people suck, so the less you are forced to interact with people the better.
I cant afford to go to the mall anymore, too busy paying my loans to have any discretionary income to toss at a JCrew shirt
I suggest listening to Dave Ramsey on podcast he wages war on loans and he tells you how to pay It off i am serious look into him
The INTERNET destroyed the Malls.....simple as that.
That and urban thugs hanging out in them.
No. It really didn't.
There's a lot of things that could be blamed but the main thing is, Malls refused to change with the changing times. That's why a lot of big companies have gone under or are going under. They refuse to change. They refuse to lower their prices, they refuse to offer more unique products, they refuse to entice the customer to go there in the first place. The CEOs are just there to get a paycheck, they dont care. The employees are underpaid and overworked, so they dont care. No one cares.
Plus TOO MANY TEENS!!!
Radiant P3nguin Teens has nothing to do with it
MrMac5150 Don't forget the expensive/over-hyped clothing stores that I have yet to see anyone shopping at.
My hometown mall was starting to die, so they began to renovate it. They had taken out the fountains and the trees, and I suggested that they put them back, because they lend a flavor to the experience of shopping, but the mall manager said that both tended to block the line of vision (to glimpsing store fronts). That's too bad, because one way that malls are to save themselves is to make themselves a unique place where people like to spend time and relax--and fountains and trees induce a feeling of relaxation and tranquility. What do the rest of you think about this?
It's the end of the mall as we know it....
okrajoe At least in US, in other countries. Malls are still popular.
...and I feel fine
Super Kyle ah, you beat me to it.
okrajoe haha I line that song
okrajoe in usa yes..but in asia not
I hate malls. They are always so hot and over crowded and most of the people are gross.
Black The Supreme God
People go there to hang out more than they go to shop.
Black The Supreme God op
Mall employees are not the nicest either with zero knowledge on most of the stuff they sell...They'll even pretend to know about the product and tell you what they think you want to hear....body language....micro aggressions......crowded mall elevators and bathroom.....Garbage Mall food......STRANGE PPL....weird stares.....all of that mixed together to form 1 big mess.....
Ghana Mafia Lmao I actually knew what was I talking about when it comes to sell clothes in retail that's just stereotypes, u have to look at it this way retail for employees are mainly aged range from 16-22 and you have to kind of tell who actually knew their own stuff more than who was just there to get a paycheck, plus that being said I actually cared about my job than most of the little kids I've worked in the past 7 years of retail experience
Jesse Simpraphone
Regular Malls are just stupid....I prefer online or outlet malls....Outlet mall employees are more knowledgeable but snobbish too....Regular malls are just a waste of space....those girls working in the mall are more concerned with their looks and finding dates than helping customers.
So Sad... Memories of going to the mall to meet up with friends and meet new ones. Dropping by the music shops to check out new tunes, the food court, picking up some new threads and kicks and checking out a new flick. Something the new generation will miss out on
49jubilee LOL. Ain't that the truth. You know the social interaction also. I'm settled down now but I can't tell you how many girl "Friends" I met and other buddy's I met just going to the mall. I know their are clubs, spring breaks and so on but it's not the same than being " sober " and just navigating the different personalities. Ohh yeaa.. And that mysterious corner known as the arcade.. Lol
That first abandoned mall is literally 5 min from my house in Matteson Illinois . I used to shop their years ago
Jasonj726 Lincoln Mall. I remember that mall used be packed in the 90’s
that's why you need to make the mall itself an experience. coaster, water park, museums, indoor rock climbing and skydiving. paintball courses. Center the mall on the experience and put the stores on the side.
plus i like shopping online for the few items i do buy
don't have to put up with rude cashiers and people
In South Korea, housing is combined with malls, and every mall has at least one big supermarket, and tutoring schools for the kids too. Hardly any reason to leave home, and one is less inclined to spend the time/energy to save a buck or two. These US mall buildings should become affordable housing, especially for all the babyboomers that are not going to be able to drive in the near future.
shinnam baby boomers can afford housing. They stole the fortunes of the following generations. Screw the baby boomers
That is a fantastic idea. :-)
one mall that did a great job of restructuring for experience is the walden galleria in Buffalo they added a Dave and busters , electric go karts that go crazy fast .also they added age restrictions inside
Amazon is not always “deep deep discounts”. Shop carefully there because they are introducing confusion tactics that end up costing you. Amazon is more convenience that cost savings.
In some countries like the Thailand, Malaysia or the Philippines, malls are not just shopping destination, they're recreational centers that attract people for a whole lot of reasons. You will always find something to do in their gigantic malls apart from buying something.
One of the other reasons malls are losing people is cause they kicked out all the kids, they got rid of the arcades and toy stores and some of them even got rid of the food courts as well. So if kids at a young age are not exposed to the malls they won't care for them when they are able to drive and hang out in.
Least the malls around me went to upscale and wanted to keep the young out, so you more or less killed your future customers going there when of age to travel on their own.
"put on your Sundays best kids, we're going to Sears!"
Tech sales only account for less then 20% of sales. When food, gas and housing expenses go up but your pay check stays the same something has to go.
My thoughts are the same.
Something or somebody is going to give in!!
Doctor's offices, legal offices, tax offices, pharmacies, mini libraries, dentist offices, optometrists and more can move into that retail space including restaurants. Gyms, spas, florists and other service businesses could thrive in a mall. Retail items like like large rugs and furniture need space. Who would by a vacuum cleaner or a bed on the internet? Mall owners were charging far, too much for rent is the other unreported part of the story.
Wow!! They charge too much on rent?!
Like how much?
The Last Of Us anyone?
Romano Naidoo me
Romano Naidoo yes. First thing I thought of
How does thia have to do with the Last of Us, unless your talking about the DLC.
Mr. Tactical Yeah the last of us
Mr. Tactical reminds me of the Last of Us : Left Behind. When they're playing in the mall
Duh... They're closing because of the economic collapse.
It has nothing to do with online shopping.
Fone Star yup ur right we might be going into another Great Depression history just repeats sadly
Fone Star you are right but online shopping doesn't help.
You can shop pretty much anywhere as long as you have internet access. It takes a fraction of the time. No need to travel to a mall shopping store to store. You can easily compare prices and get the best deal. You save a lot of time. You can relax and do whatever you like.
From 0:00 to 0:04 was Lincoln Mall in Matteson. Closed in 2015. I got videos of that mall
I stopped going to the mall after I discovered Amazon. That was almost a decade ago.
That is not good!
Is it that people like shopping from home? I know I hate going to mega stores where it takes you an hour to find the one thing you want. Maybe go back to smaller specialty stores.
There's a Westfield Mall near my neighborhood that is being redone. They are planning on making an outdoor plaza and walkways, that sounds cool.
Let's hope Paul Blart is safe.
When I a in Asia like Singapore or Philippines the malls do really well there. There are other things happening in the malls like live shows and nice place to go to get out of the heat.
True I am from the Philippines. Weather is so hot so people tend to stay in malls.
Mr J-Charles so true when I went to the Philippines the malls were more enjoyable than the houses since there isnt air conditioning 🥵
a mall that was dying here in ft worth texas was turned into a mexican style mall, with lots of independent vendors and even has a side of the mall dedicated to smaller vendors like flea market style and lots of food vendors too. This mall is NEVER dead! and its still looks very clean and attracts all races of people.
i miss the 80's
The last time I try to go to the mall. I couldn't find a parking space. That's why I never when back to a mall.
Mall have always been tedious. They have the same stores. I have always shopped for experiences. I only spend 10 percent on clothes. If malls relied on me, they would all close.
A big factor is that malls now discourage teens from making the mall their social hang-out place by placing strict limits on when they can be there without parents. ...and, admittedly, the past generations probably didn't spend a huge amount at the mall, but it established the mall as the place to shop for them into their higher-spending 20s and 30s.
I met my wife at a mall, now it's just for shooting that Shannara tv series
The mall shown is Lincoln mall in Matteson, IL. They just started to demolish it on June 8th, 2017. I was heartbroken. It closed about 3 years ago. I grew up going there :'(
this makes me so sad. I'm afraid my mall will shut down I LOVE MY MALL
My city's biggest mall is always full during weekends. You can't find a decent parking space and lots of trucks park on the grass. It was renovated about a year ago, the food court looks modern and everything is ecofriendly (no disposable dishes). People just followed.
But the Sears parking lot is always half deserted.
I don't think malls are dying, at my local mall, I always see someone I know, usually multiple people. It's rather crowded as well.
I do live in Australia though, not the US
Same situation in Malaysia. Finding parking spot is rather difficult but when it comes the weekend,parking spot will be almost impossible to find.
Although people didn't have the Net, online reviews, etc. in the '70's when I grew up with them, we didn't go shopping at the mall wondering if an item was top quality or not. You bought basic items in stores pretty much knowing what you were getting. If you wanted something of higher caliber, you shopped at the higher caliber anchor stores. We loved the malls for the "people" atmosphere & discovering new things by our leisurely browsing. You could see & hold the object. Malls were a great way to pass time & maybe meet someone new. Walmart/internet won't replace the fun at the mall. In the case of my area, it was the gangs & unruly teens who killed off business. Signs of the times. :(
I agree with everything you said, but please say that you don't mean black people when you say gangs, because people are blaming the death of malls on black people, especially the ones who haven't done anything wrong. Have a nice day!
Love the great content Business Insider !! keep up the amazing work !!
I am surprised that when the lady mentioned a change in shopping habits, that she did not mention that a lot of people are now buying local. There has been a growing movement, especially among millennials, to shop at local mom & pop stores, rather than spend their money at a big chain store.
Mall closings are sometimes because of real shoppers being ran off by thugs trolling by the hundreds on the weekend just hanging out looking for trouble and a chance to shoplift . Real shoppers feel unsafe and just shop a safer , but less fun way , online . This may be a politically incorrect answer but it's sad and true .
Retail changed over the years. People used to shop downtown til they start building shopping centers. Malls became more obvious now online shopping taken over.
You're right about the fact that e-commerce only accounts for a portion of the decline in sales at brick and mortar stores. Small local stores and thrift stores are the way to go, with online shopping for what one can't get locally. We have to prioritize the limited amount of time and energy we have and not waste it by wandering aimlessly through malls.
Burlington center mall in nj closed only open store left is sears. They are closing in august. Sad I spent so many hrs at the mall as a teen.
I work at Costco and I can flat out tell you it's because people want their stuff cheap. Why pay 3x as much in a mall when a department store or online sells the exact same product for cheaper? We're not made of money...
Me too!! If want something I'd compare prices then consider going to Ebay for a better price if it's Ebay for a better price. And so far I have found items that I like for lesser price.
I'm not made of money either. I don't spend my money like crazy but sheesh I'm trying to make ends meet while my wages remain the same!! And if I can't afford it then I don't need it or save money until I can afford the item or I tighten up my belt and be content.🤷♂️🤷♂️🤷♂️🤷♂️
In the UK several big malls have opened up over the past few years. The two Westfields in London seem to be doing good business, and Westfield (based in Australia) wants to take over an existing mall in south London (the Whitgift Centre in Croydon) and expand it. Then again some town centre malls are contracting or closing because people want to drive to out-of-town shopping malls or those with a lot of parking (or both) like the Westfields, Bluewater and Lakeside. I think there's space for a big drive-to mall on the west side of London; there are two on the east but none over here; but that would take revenue from the town centres here.
Malls in my area were in trouble before the rise of ecommerce and before the Recession. Every couple of years, a new mall would open, often adding a second, or even a third location for an anchor store in a county of 350,000 consumers. This is not counting at least two malls in the other major city in the county, of which I visited one, once. I would say since the mid 90s, even the busiest mall had a 10% vacancy rate, . The older malls shifted to comic book stores, etc and had vacancy rates closer to 20-25%. Malls also became investments for massive corporations, which tend to concentrate on getting money out of the mall rather than putting money into maintenance. One did an "upgrade" - new tile, etc. but never got around to fixing the roof.
Happily, shopping centres like Westfield are still doing well here in Australia. If a business goes down the gurgler here, it's mostly due to poor management. A recent business failure here was Dick Smith Electronics. The person who's name graced the business, sold the business to the grocery chain, Woolworths several years ago and they in turn sold DSE onto some other company. Dick Smith himself had moved on to other interests but the electronics store chain that bore his name went into receivership roughly midway through last year and the stores themselves closed late last year. The internet did not figure in that collapse but that's not to say the internet could not have caused the collapse. In different circumstances the 'net might well have caused DSE to go down the gurgle-hole.
Malls were great in the 90's when the mall catered to Teen/Kids and had a bunch of really cool, unique stores. Now they just have overpriced clothes, shoes and jewelry. There's no reason for me to go to a mall anymore.
Didn't realize malls were struggling as much as this video and comment section are claiming. The nearest mall to my place has a food court located about hundred feet from a sears, Abercrombie, and Macy's, and the other two anchor stores (dillards and jc penny) are located on the other side, but they are close to the movie theatre and two other restuarants outside.
Most of the people are centered around there and walk between the two places, traveling along and finding all the smaller stores like think geek, gamestop, as well as indoor rock climbing, lunar mini golf, skate place and other attractions they bring in from time to time.
That mall has always been thriving, as well as the other one nearby which hosts a more modern approach with 2 easily reachable floors, and, at times, a third floor. They have a Round 1, movie theatre, several restuarants littered around (and not concentrated in2 spots) with both indoors and outdoors attractions. They are always full of people, and while I do see fewer people nowadays inside the bigger more expensive stores, when I go in during holiday season, when a new movie releases, or just when it's a nice day out on a weekend, there are always people walking around, talking, and having fun.
The internet is the biggest mall in the world you can stay home and go to hundreds of stores and they are open 24/7
It's booming in Sydney Australia. The local malls all around the city are usually always busy, I can never find parking there. Makes me wonder if we are approaching another 2008 type of recession.
Between 2006 and 2015, been to mall twice. One was shoes, last was jacket. Ain't been back since and for 9 years I didn't. My Amazon and Walmart online is full of past orders. Mall? Not sure where they all are in the city I live in!
The reason MOA, the 2nd Largest Mall in America, has been able to stay on its feet is because of things like Lego Land, the Aquarium, and of course Nickelodeon Universe, which brings in more than the average shopper. It brings in the Tourist aswell
Malls put the downtown stores out of business. Now it's their turn.
When I was growing up, malls had a special place. I remember my mom would go shop and I would hit all my favorite stores: Electronic Boutique, Hobby Town, arcade, then the food court. They also had the KB Toy Stores and the discount game rack was a big hit for me, and sometimes I could buy something off there. Usually the food court and arcades like the two top spots. Go in, play some, go grab samples from the Chinese food place, then come back to the arcade. This one mall I went to had a pet shop and I would go in there and look at all the dogs and sometimes buy a little pig ear for my dog back at home. It was fun times. Then around the early 2000s, I just never went back to the mall. I think in the last 10 years, I only recall ever going to the mall maybe once or twice.
Personally I think to make malls profitable they need to offer something aside from stores. They need to offer some sort of amusement like arcades or a fun center where you can go in and do stuff with the family. Just having stores a bit boring. I don't really see anything unique anymore. I go in a mall and yeah, I'm like I can buy that same exact item from Amazon or eBay and I don't even look at it or even price compare. I just buy it off Amazon or eBay when I can.
The only lyrics reason my mall is still open is because it has a movie theater which brings in lots of kids/teens and some families, which then gets them to shop at some of the stores. If it weren't for that movie theater idk how it would be
One word answer, “Amazon “. Young people shop online for everything. I’m 73 and now even I shop online. I get delivery in a few days right to my porch. I buy clothes, stamps, tools and cleaning liquids online. It is easy and cheap. I do go to Home Depot for some things for my house but I haven’t been inside a mall in two or three years.
On the internet you don't have to find parking
at the mall you dont have to struggle with not being able to see which shoe sizes fit or if your clothes are too big or too small
Besides the internet, I also think that lack of variety killed things. Back in the day, you could go into any mall in the country and find pretty much the same stores, JC Penny, Gap, Claire's, Sears, Footlocker, etc. What reason is there to go to a mall across town when the one near you has all of the same stores? There was never a mall that had something special to make you go out of your way to get there.
Also redundancy within the individual malls themselves. In high school in the 90s, one popular mall had 7 sneaker stores, 5 sporting goods stores, 4 card shops. Even then, I wondered why there wasn't more variety in types of stores.
this is really shocking to me all the malls in my area are huge and constantly filled with people, kids go there to hang out and stuff on the daily, and almost everyone i know does their clothes shopping almost exclusively there. I wonder if this is just based on location, I live in northern California, if you reply what are the malls like in your area??
There's a mall around where I live that has existed since the 60's. Still busy and popular to this day.
People are waking up is what it is. They're falling out of this matrix. People are realizing a shirt is a shirt its just name tagged differences. There are stores opening all over the world now where you can get clothes, very nice clothes dirt cheap. I walk around looking like a CEO of a business with spending very little. Closet full of polos at 3 dollars a piece as well as khaki shorts & slacks under 10 dollars. All brand new no good will not that I have anything against good will, just making a point. Glad to see people waking up .
Hit it right on the head, and it's sad, because when I was growing up, going to the mall was kind of like going to an amusement park. It was great just to look at all of the stuff available and the appearance, fountains and plants, tall ceilings with natural light coming in.
I was never a big mall goer, but I did love to go when I did.
It's sad that an entire generation of people will very quickly lose that experience, kind of like people are losing the experience of what life before Internet was like, something I also still remember, though I'd never want to return to those days (but there is something about it that brought people closer together).
I like how the demolished malls in my area were transformed into a shopping center.
The description of this article include "We explore the variety of reasons why malls..." but you really didn't explore them. BI stated their opinion with no facts or figures. You can do better!
But is it mostly suburban malls or inner-city malls as well? I live in Norfolk, Virginia and we have a mall downtown called MacArthur Center, and to my knowledge it's been going strong since its opening in '99 even without landing an elusive third anchor. Maybe the trend of dying malls, isn't only about technology, an economic crash, and changing habits, but also population and demographics. From what I heard there's a trend of people moving back into cities for the culture, convenience, and to be close to work, etc. I'm just wondering if that has something to do with it.
I know of a mall that I used to go to a lot when it was thriving. It's really empty now, and the only thing keeping it alive is a multi-story Asian supermarket. No clue how that happened.
Malls were dying well before Amazon because many of the burbs that supported them aged out demographically and stand alone store blocks became the new design for retail. A massive contraction of vendors went hand in hand with their closing as many chains simply ceased to exist as the crowds that they counted on vanished.
A lot of things have changed over the last 2 decades. The biggest one, of course, is online shopping, Amazon, eBay, etc. Amazon for example, has Amazon prime which most people will get their order the next day. It is a lot more convenient and saves time plus money. A lot of retail stores I have been in recently are pushing the, "If you can not find a product, you can search on our website for thousands of products and have it shipped directly to your favorite store." Retail stores also offer pick up in store as well. I can see this making big headway in retail, as like in this video, people are looking for real world reviews with products.They can look in the comfort of their own home, without the nagging of a salesperson to buy something they may not like. Most retailers will even offer free shipping to their stores to bring back that foot traffic they have lost from the internet. Another big hit to the malls of America are big retailers like Wal-Mart. Even though now, Wal-Mart is seeing a drastic decrease in sales and customers; their deep discounts along with convenience, have brought in some of the malls foot traffic. Consumers these days do not want to wander around an indoor building and be in huge crowds. Hopefully these mall developers will take lesson and switch their game.
Meanwhile, I've visited family in Rzeszów, Poland, and there are new malls sprouting all the time.
And, as far as I know, Poland has the internet just like the U.S. does, right?
Tony from Sacramento I'm merely commenting on my observations; there's literally no need to be a douchebag.
I'm sorry for hurting your feelings; you're a sensitive snowflake, I understand. I'm simply pointing-out how you brilliantly (apparently accidentally) pointed-out an inconsistency in the story. Let me spell it out for you Dux. The story blamed much, if not most of the decline of the U.S. malls on the internet. But how do they explain that other countries (with less money to spend than U.S. consumers) have the internet, but their malls are thriving? And this is true throughout much of the world, not just Poland. So your comment is spot-on, and debunks the majority of their argument.
Tony from Sacramento My apologies-- I clearly misunderstood your previous comment. Yes, it does seem odd that countries with less wealthy populations are opening up more malls than ones with a more established middle class. Online shopping isn't really a thing in Poland, despite the widespread availability of the Internet. I think it might have to do with increasing westernization, an emerging middle class, and lack of infrastructure in terms of shipping. Just my two cents.
Back when going to the mall meant shopping or just hanging with your friends & Family. Nowadays. Less people & closing the huge anchor stores
The young women here don't mention the fact that the whole mall experience developed with the growth of suburbia and long before the internet. Then along came e-commerce and Amazon and others.
Movie theaters as solutions? They are too young to remember that malls built movie theaters as part of the complex back in the late 60's and 70's and it DID NOT save them beyond the first 20 years. The movie places were profitable for a while but then with the coming of dvd's, and cable movies and then the internet, it's over. The only mall I know that is hanging on or doing moderate business is an upscale place with some real high end stores, and more upscale restaurants in the block next to the mall.
the problem malls around me have had is lack of variety. no more book stores, no more unique or specialty stores, no more arcades, bad restaurants.
Dan Bell footage?
its not the mall itself , its the area not spending or advancing. you have amazon for hard to get stuff but the stores have easy to find things.
No one can afford to keep malls alive
What about websites that have pricing, & reviews, but you can't order anything on the site. That would force consumers to go outside & see the world, & buy the product in person.
SquidAshSquaishyStampyFan - you’d lose the sale if you did that to me
I would Love to see the A&W Root beer stands come back, where we would cruise from one
to another, and use our hands to wave at each other, and NOT used to shoot.
Those were the blessed old days, where everybody respected each other, and had kindness..
What OVERPOPULATION has done, is put us in the gutter.
Believe it or NOT we have still not come far from those days, some people do
not get it..Spread people out, less problems, simple arithmetic.
I don't know why they close all the shopping malls and meanwhile build these huge commons where each store has its own individual building. In a mall you park at one spot and walk throughout the whole thing. But those shopping commons are terrible, and you have to park at each store which is a bane in winter or when you have children. For example, the largest mall in North America is West Edmonton Mall which takes up 24 blocks. There is also the South Edmonton Common which has many stores too, but it occupies over a quarter section and you have to drive around it everywhere (and that's green??) It sucks with a passion, but that's what's being built throughout North America instead which I think is so stupid. Long live the mall, and no more shopping commons.
The upkeep on these huge structures is staggering. If every retail space is not filled and paying the rent, then it will fail. If you walk through a small or average size mall and count more than a dozen empty retail spaces, then you can pretty much be assured that mall won't be around for long. Retail is not what it used to be, young people are more interested in social media than hanging out at the mall. Older people do not want to walk around and gawk at mall store anymore. Anchor stores are failing daily. Mall have ran their course and served their purpose, now its time to use the land they sit on for something else.
all those reasons and more, very well said.
Malls in Philippines are always alive. They also offer good air-conditioning all over the building.
The reason I stopped shopping at malls is because they rarely had what I wanted. The few times they would have what I wanted, they would either overcharge for it or not have my size.
thank you ladies for pointing out to us that which is so simple and obvious that a 10 year old knows why malls are closing ..this was painful to watch