If you were a child of the 1980’s you can probably recall the days of fully packed shopping malls, busy food courts, and all the cool kids hanging out at the arcade. Those were some of the last golden days of some malls around the country. Shopping habits have shifted to other types of retailers, as companies like Walmart, Target, and even online shopping has killed off many businesses who used to be key mall stores. First you may have seen the toy stores and arcades disappear, then some of the smaller department stores, but now you are seeing the anchor stores closing in the mall and in some cases the mall closing entirely.
The Shopping Mall Is Dying As Major Retailers Close More Stores
People no longer go to stores like Radio Shack to get their TVs and other electronics, and we shop for a lot of our clothes and home goods at big box stores down the street from the mall. Our shopping patterns have changed as the face of business has also evolved. Nowadays just about all you will find at most shopping malls are clothing stores and modest food courts.
Sears continues to close many of its department stores around the country in an effort to minimize their operating loses, and they are just the tip of the iceberg. Other retailers are also pulling some of their stores from the malls. Even those stores that chose to remain open are probably doing so with a very thin profit margin.
The mall parking lot used to be the epitome of struggling to find a parking spot. Now the lots are nearly empty, and even the parking garages pose little roadblock in finding a place to park. This year’s holiday provided some relief to mall retailers, with a big surge in holiday spending, but it will not be enough to alter plans that were put into effect long ago.
Perhaps it isn’t a bad thing that malls are closing, though the memories of the good old days might be missed sorely.
The Shopping Mall Is Dying As Major Retailers Close More Stores.