Future of America’s Shopping Malls Looks a Little Grim
A report released by the data-crunching firm Credit Suisse reveals that there is a grim outlook for the shopping malls in America. They say that 20 to 25% of malls will close within five years. They've also projected that a record 6,800 will close just this year.
However, we just might be in that protective Midwest economic bubble where our retail dollars are as green as the pastures across the fence. The Empire Mall in Sioux Falls appears to be bustling on every visit - despite the time of year.
Over Father's Day weekend my family and I visited the Mall of America in Minneapolis and it was very busy.
Shopping malls are a fun experience. My neighbor calls it therapy - of course she's a teenager. She says shopping is her outlet. Perhaps that's where they got the term "outlet mall."
CS goes on the say that the biggest rival, of course, is online retailers - where online ordering will increase 35% by the year 2030. Good luck with that. I happen to enjoy lugging shopping bags on one hand with a Cinnabon in the other.
You can't find that kind of love online.