Posted on 05/31/2017 7:07:46 PM PDT by markomalley
Between 20% and 25% of the nation’s shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.
For many, the Wall Street firm’s finding may come as no surprise. Long-standing retailers are dying off as shoppers’ habits shift online. Credit Suisse expects apparel sales to represent 35% of all e-commerce by 2030, up from 17% today.
Traditional mall anchors, such as Macy’s, J.C. Penney and Sears, have announced numerous store closings in recent months. Clothiers including American Apparel, Bebe and BCBG Max Azria have filed for bankruptcy. The report estimates that around 8,640 stores will close by the end of the year.
(Excerpt) Read more at latimes.com ...
A shopping mall would sub divide into really cool condos.
But where will the youth hang out? Who will babysit them?
When you spend so much money on health insurance, you don’t have any disposable income for shopping.
There’s anecdotal evidence in my area, that there are numerous vacancies in malls. I’m not aware of any malls having shut down entirely, but they are definitely seeing tenants relocate or go out of business.
My hometown didn’t have a mall until I was in high school.
Main street took the hit when big stores took over; really, against the will of the people.
More likely they will rebuild with something entirely new. The mall I grew up with in the ‘70s was totally demolished recently, to make way for a condo development with some kind of shopping “town center” whatever that may be.
or. they may not.
retard feed.
I agree that E - commerce is killing the brick and mortar store. I wanted some additional memory for my computers. I could have driven five miles to Fry’s and got some that day but I checked for compatible components and bought online. Fry’s is dying.
I was sad when Borders closed, as they had a much better history selection than Barnes and Noble. So I bought a Kindle and download what I want instantly at roughly half the cost of a hardbound book.
A place for something like Lowes will probably be the last holdout, as buying lumber and paint online is not yet feasible.
The traditional indoor shopping mall is going the way of the dodo bird unless it has a “tentpole” tenant to draw in shoppers like an Apple Store or Nordstroms. What is replacing them are large outdoor shopping centers with large box stores next to each other.
neither do I want to hang out with the tattooed ring nosed little darlings....
frankly, our needs our much less.....
Absolutely.
It would have to be a condo association, but I can imagine a very ice place where you walk outside the door and there’d be a really nice atmospheric controlled place for long walks and a real community environment.
You could also have shops, restaurants, churches...
It would be a self-contained community, and could be very upscale.
Malls need to reinvent themselves, or die. A mall a mile away from me totally remodeled and doubled its size, offering better restaurants and movie theaters. Another one also a mile away is currently remodeling and doubling its size. I expect them to offer more than just clothing stores. As in Karate dojos, entertainment other than movies, perhaps training centers for craftsmen, classrooms, etc. Something other to do than eat or buy clothing. Problem is, the high rents scare potential clients.
We just did something similar. My wife and I are remodeling her mom's home. We ordered a bunch of lumber, cement and materials online from Home Depot, and had it delivered from a warehouse miles away even though a store is near us. Much easier than us loading up and hauling it from the store. They dropped it via forklift at the driveway, and we carried it into the garage bit by bit.
I see the loss. Loss of jobs for one thing. Personally I still like to have stores around to see and feel the merchandize. Of course I buy a lot online. But I do not wish brick and mortar busnesses to die.
Developers began moving away from indoor malls long before e-commerce, too. The advantage of a big-box shopping center with detached stores is that the property owner doesn’t have to pay the cost of heating and air conditioning for large corridors that generate very little revenue. Also, an outdoor shopping center will attract fewer mutants and thugs because they don’t want to hang around outside in the heat of cold.
I despise those - or some of them. They are absolute traffic nightmares. You can't just pull in, shop, and leave. You have to fight with a gazillion pedestrians crossing all over the place. Whoever designed these things needs a sound butt whipping.
The reason:
1. No federal tax on online shopping like Amazon or Ebay. The stores are try out places and people buy online.
2. Large numbers of ‘youths’ go to malls, buy little, scare the adult actual shoppers off. Attempt to kick them out and it results in cries of ‘racism!’
Big box store = come in, buy your stuff, and leave.
Even those are suffering if they sell electronics are other high end items easy to buy online.
I remember a couple of malls that died in the 1980s. One of the empty anchor stores was used on Sundays for a giant flea market. I have fond memories of buying many many comic books with my paper route money. And once in a while I’d wander out to the rest of the mall, which was empty and somewhat eerie.
Those flea markets had everything. Just wandering around after I’d spent the money I’d brought was entertainment enough.
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