Are malls dying?

Malls are going downhill inAmericaright now.  Many malls are shutting down and newer malls aren’t coming up anymore.  Out of 2,000 large malls, 400 are closing down because they are not making enough business.  There are also many vacancies within the malls because not enough people are opening up stores there.

The retail business is going downhill because too many people are using the internet to shop for goods that they want.  Companies like Amazon, Etsy, and Ebay are using E-Commerce to sell products.  The goods will be shipped to your home.  This is more convenient for people because they do not have to go out when they can have items shipped to them. Instead of going to the actual mall, they will look for it online.  They will save money as well because there are deals online that you cannot beat.  Malls usually get their money from discretional spending.  That is the money you have after you pay your bills.  Since this is in a depression, there is less money to spend so people rather save online.   People are also spending their money at Wal-Mart and Target where they can save money. The full price department stores cost too much money and people cannot afford it.   Also malls have non essential items that are not being bought as much due to the recession.

By using e=commerce, you may save so much money that the shipping price and time it takes to arrive at your home is worth it.  But there are problems with shopping online because it is not as user friendly.  You cannot try on you’re a purse to see how it looks or you cannot try on an outfit to see if it fits you well.  You have to rely on thee statistics given to you by the company that sells the products.  Sometimes this information may be wrong.  So you will buy the product and it does not fit you so you would want a refund.

Malls are using innovative ways to bring people to the malls now.  Since traveling is becoming too expensive people have the “staycation” where they travel in their city and experience a local place.  So the malls are opening up more restauraunts within the malls so people can visit.  This is driving traffic to the malls in order to get people to buy from the retail stores as well. So there are also ice skating rinks, rock climbing, arcades, bowling alleys, movie theaters and other fun excursions that malls are trying to bring back.  You can meet people at malls as well so it is more of a social experience.

Malls are not going anywhere but they will be drastically reduced to will look different.  It will be more social friendly to attract people to come and have fun.  There will be innovative ways to attract people to come and spend their time.

7 thoughts on “Are malls dying?

  1. I would have to agree with this to an extend. I have seen how much e-commerce has grown over the years through myself and friends. it is very convenient to shop from home especially when stores usually have deals on free shipping. However another thing I have seen a lot is how retailers, are opening up their own stores outside of malls. This is creates less competition from other stores that in a mall you could find all in one place.

  2. I do agree with the writer that more malls are shutting down, but why is that? I believe that higher property taxes, weaker customer spending, and online shopping are the reasons for it. People will still go to the malls but not just for shopping but also to have fun, socialize, exercise, see and to be seen. I understand that going to a mall is a very convenient way to shop because you can choose any product you desire from a large range of items. However, in today’s world many people prefer online shopping because of better discounts, free samples, free shipping, and even many businesses are sending online catalogs, which contain most current information about discounts and prices, and on the other hand, those businesses cut cost of issuing paper catalogs. There are also shoppers who buy merchandise, which they already have, do not need, or even cannot afford as a way to make themselves happy, so online shopping for addicted customers is a great choice. However, we are humans, and we should use our minds and wallets wisely while shopping in stores or online.

  3. I agree that malls are decreasing substantially due to the recession, however there is data to show that outlet malls are on the rise. Price is something that has now become a main deciding factor when shopping today, and most malls have stores that offer clothes at a high price. With online stores like ebay, Amazon, and other websites, people can shop for the same items in department stores, but at a much cheaper price. It decreases the cost of renting a storefront, hiring employees, and forecasting in store turnover. There will always be a need for some malls in America, however I do believe they will need to start changing their marketing plans to make themselves more attractive to consumers who would otherwise shop online, or at an outlet.

  4. I totally agree with the idea that malls and large box stores are going out of business due to online shopping. Since, we live in a digital era where we can sell, buy, and trade goods via the internet which made it easier for us to save time and money. However, e-commerce has some disadvantageous such as, time for delivery, returning goods, and perfecting fitting. Therefore, in my opinion malls are more social friendly, where someone can spend more than a few hours between stores and shopping and also enjoying a nice meal with a friend where online shopping doesn’t offer such an environment.

  5. Thank you for posting this blog. I also agree that malls are becoming less and less relevant due to online shopping, but looking at the issue from a business perspective, I believe that malls need to be saved. When people shop online, they usually know what they want and go directly to the website that they need. The purpose of malls is for people to walk around and browse different stores, which encourages spending. Many times, people say that they buy things that they didn’t even know they needed when they visit malls. This tendency is a plus for mall business and is not present to the same extent when people shop online. Overall, malls encourage people to buy, which helps businesses profit. Thus, as mentioned, a new strategy needs to be developed for malls to stay alive. Since malls attract a lot of young people, maybe the new plan can make the shopping centers more youth friendly.

  6. I think this is a very relevant and interesting article given the age of technology we are in. I would have to agree that online shopping is exponentially increasing. I would also agree that there is a decline in malls. I do think these two are related and that malls may not go away completely, but I think over the years they will be drastically reduced, and become “super centers” with more than just shops, like the author said. However, I do think malls have an advantage; they provide a place for return and first hand buyer experience. You can not beat the experience of actually trying something on or seeing it in person so you know it is perfect for you at a moments notice. Shopping online, even though it is extremely convenient and easy, has risks. Unlike a real store, you can not try out anything or see it in person therefore lacking a guaranteed perfect item. Over all I think it will be interesting to see how malls transform themselves for the future in order to attract customers back, away from their computers. All we can do is sit back and watch!

  7. I completely agree with the author. I agree that more and more people are buying online than going out to shopping malls to shop. Personally, I prefer to buy online than to go to mall for the convenience factor and also that it is cheaper. When I do go out to a store to shop, it is usually Target because again it is cheaper and it is a one stop shop.

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