As bad as the economy is, the demise of large shopping malls is actually the result of the changing nature of retail.
First there were catalog sales, then there were big city department stores, then there were suburban malls, now there is a combination of big box stores and online sales.
The article mentioned that many of the malls were in low income areas hard hit by the economy. Once an area decays to the point of being low income, malls close because there aren’t enough local shoppers to support them, and theft rises.
Se la vie.
The economy was thriving, malls and retailers of all kinds were doing exceptionally well in the mid-to-late 1990s. That’s when the Conservative Rebellion led by Congressman Newt Gingrich neutralized the communistic programs of KKKlintoon. For all practical purposes, Gingrich was running the show and prosperity was palpable. Kommie Klintoon and his Kronies were reduced to mere figurehead status for the latter half of the decade. I recall paying only 78 cents per gallon for gasoline proving by Conservatism fuels robust free enterprise.
c’est la vie
I agree and add to it malls were doomed to fail when all allowed city bus routes along their paths. Many refuse to frequent them due to this one issue.
You nailed it. I use to shop at Raleigh Springs Mall in Raleigh (burb of Memphis) crime is so high, there is nothing left but nitch stores. It is not even safe to go to the fabric store down the street, they are robbed all the time. Most of the mall is empty. Arabs own what there is of it. Every where Memphis annexed went to pot in a matter of a year.
“As bad as the economy is, the demise of large shopping malls is actually the result of the changing nature of retail.”
I agree, but would like to know why they built a mall here in northern NJ that never even opened. The Xanadu Mall was built a few years ago (by Giants Stadium in the Meadowlands), complete with an indoor ski slope, and never opened. In the meantime, in the adjacent parking lots every Saturday, Americans and illegals are literally buying groceries in the Meadowlands Flea Market. Cereal, soap, toothpaste, whatever - in the shadow of this monstrosity of a “dead mall” that never opened its doors...
However, it is curious that we started with catalogue sales and have come full circle to effectively catalogue sales via the internet. The heyday of the bog box mall stores is about over. Between boutique stores and internet sales the big expensive stores will fade away.
I’d add the massive late 90’s influx of home video game systems as a contributor. The only reason we went to the mall as kids was to play video games in the arcade. Once we bought a NES, that ended...lol
“The article mentioned that many of the malls were in low income areas hard hit by the economy. Once an area decays to the point of being low income, malls close because there aren’t enough local shoppers to support them, and theft rise”
Exactly. Except around here (Birmingham) the malls weren’t originally built in low income areas. White flight to the suburbs opened up these areas to “Democrats” and then the above happened. I personally still prefer to shop in enclosed malls. About once a year........
That's partly true, but I live near Framingham, MA, the mall capital of Massachusetts, and the malls and shopping strips cratered IMMEDIATELY after The Communist's election. The upscale mall, "The Natick Collection," changed its name to "The Natick Mall," at about the same time.
Business has yet to come back, despite the fact that the recession ended five years ago < snort>.