News: Malls on the brink of extinction

MaRy

Quote:

Dozens of shopping malls across the US are struggling to survive.

More than two dozen malls have shut down in the last four years and another 60 malls are on the brink of death, the New York Times reports, citing Green Street Advisors, a real estate and REIT analytics firm.

The firm predicted last year that about 15% of U.S. malls would fail or be converted into non-retail space within the next 10 years. That was an increase from two years earlier, when the firm said that 10% of malls would fail or be converted.

Retail consultant Howard Davidowitz expects as many as half of America’s 1,200 shopping malls to fail within 15 to 20 years. He predicts that only upscale shopping centres with anchors like Nordstrom, Saks Fifth Avenue, and Neiman Marcus will survive.

Many malls are suffering because of recent widespread store closures among major department stores, such as Sears, J.C. Penney, and Macy’s. Once anchor stores close, it can be difficult for mall owners to find a tenant to replace them.

http://www.businessinsider.com.au/sh...-crisis-2015-1

Good riddance

vuelve88

Fading

Javier

Multiple malls with small stores <<<<<<<<<<< One huge mall with dem all big stores tbh.

bullshizzlen

It's true. A mall close to me just closed

Skywalker

Why would you want this to happen though (to those celebrating)? I love malls.

MaRy

Quote:

Originally posted by Javier

Multiple malls with small stores <<<<<<<<<<< One huge mall with dem all big stores tbh.

Malls are trash. Online shopping + street shopping > trashy malls

Jackson

I don't like them but they're convenient

M A R C

I have 2 malls where i live, and only one of them everyone goes to.
The other one looks exactly like the pic in the op.

The only reason why it's surviving is because of Burlington and Victoria's Secret.

GreasyBruce

Malls

Individual shops in a city street >>> (like Soho in London)

But then again I would never live anywhere that wasn't a large, cosmopolitan city. If you live in the suburbs or in a rural area where the only shops are at a mall then I can understand the necessity.

IBeMe

thats sad :/

Mezter

Everyone loves the mall here. Outdoor malls are the best though!

Zoraluv

where will all the outdated scene kids and 16 yr old boys trying to pick up girls go now???

Jennifer

Is it because of online shopping?

I can't see malls ever going extinct, atleast not for like 20+ years (maybe something revolutionary will come along?)

Guernica

But I love the mall

One in the next town over completely closed recently, it used to be empty except for the movie theater that for whatever reason stayed open but now even that's gone.

NewRihannaStan

I can't tell. The mall I work at is just always busy . I actually wanted ppl to leave . And my mall has nordstroms Macy's Sears and jc penny

MaRy

Quote:

Originally posted by Jennifer

Is it because of online shopping?

I can't see malls ever going extinct, atleast not for like 20+ years (maybe something revolutionary will come along?)

I think it's because those huge department stores like sears and hudsons bay are fading, Target as well (it's closing down after 1 year in Canada

), Walmart resists for now but soon it will fade

I think the new generation does not do senseless shopping as much as the baby boomers, i mean I uy clothes like once a year and furniture like once in 10 years... most retail now is online like music, videogames, etc. + online shopping

Jennifer

Quote:

Originally posted by GreasyBruce

Malls

Individual shops in a city street >>> (like Soho in London)

But then again I would never live anywhere that wasn't a large, cosmopolitan city. If you live in the suburbs or in a rural area where the only shops are at a mall then I can understand the necessity.

I love individual shops on a street too, like NYC and the other huge cities.

But that also becomes horrible in the winter. I was in NYC for thanksgiving and it was SO cold in SoHo. I still made my rounds but I would've loved a huge ass mall right there with all the shops, lol.

MWB

Malls are awesome tho.

It's nice browsing around and stuff.

vamp

Quote:

Originally posted by Zoraluv

where will all the outdated scene kids and 16 yr old boys trying to pick up girls go now???

Tinder.

Jennifer

Quote:

Originally posted by MaRy

I think it's because those huge department stores like sears and hudsons bay are fading, Target as well (it's closing down after 1 year in Canada

), Walmart resists for now but soon it will fade

I think the new generation does not do senseless shopping as much as the baby boomers, i mean I uy clothes like once a year and furniture like once in 10 years... most retail now is online like music, videogames, etc. + online shopping

I agree that the big department stores aren't as popular as before but it is definitely not true that the new generation doesn't do as much senseless shopping.

You are an anomaly if you only buy clothes once a year, lol. Me and my friends (and millions of other girls) are constantly shopping for random **** that we don't need. Online shopping has actually made it worse b/c its so easy to buy stupid crap with the click of a button. The number of girls in college with their MacBooks open during class online shopping was unreal, lol.