A recent article in Newsweek magazine poses the question: is the mall dead? The article notes that last year was the first year in half a century where a new indoor mall did not open somewhere in the country. Another recent article notes the high retail vacancy rate in regional malls. Others write that fast-growing “lifestyle centers” – open-air developments that contain some mix of shopping, office space, entertainment, outdoor parks, recreational facilities and housing – are replacing regional and local malls as the new shopping destination of choice.
However, the Newsweek article lays some of the blame for traditional malls’ decline on anti-consumption and pro-environment and fair labor sentiments held by the public. They report that 40% of First Globals prefer to purchase items that are “socially conscious” – ie, environmentally safe and produced through fair labor – and that traditional malls have little to offer that fits this description.
What do you think? Is the rise in the anti-consumption and pro-environment attitudes detailed by Newsweek responsible for the waning fortunes of shopping malls, or are factors like the growth of lifestyle centers and Internet shopping more responsible? Does the economic uncertainty of consumers mean that all shopping centers (and not just malls) are likely to close or have economic difficulties of their own? With the holiday season fast approaching, where do you plan to do most of your shopping – in a mall, or elsewhere?
Subscribe to:
Post Comments (Atom)
4 comments:
That Newsweek article is really interesting.. personally i do almost all my shopping online, but it's more to avoid crowds and because it's faster and i can get exactly what i want. I guess as a younger first global I wasn't around for the "mall as a social hangout" era, so i'm not that nostalgic for closed malls.
I definitely think internet shopping is playing a role in the decline, especially combined with the current economic status. It is so much easier and quicker to shop online, even if it isn't as much fun (if you enjoy shopping). I still enjoy an occasional trip to the mall, but with the advent of the internet, malls have lost their status as the best place where you can go and shop from a wide variety of stores...
the newsweek author is so caught up with his theory of the declining interest in consumption that it completely ignores the raise of the internet shopping. the ways of shopping come and go but shopping is there to stay.
It's a shame to see the shopping malls dying out. As a "Gen Xer," it was the popular place on a Friday or Saturday night...but times have changed and technology has changed. I am glad the Internet has made more things available with the click of the mouse. I was disappointed by my trip to the local shopping mall. More stores have closed, leaving empty spaces. The eateries are down to a handful, with very little variety. The new sporting good store was a waste of time for me, as I was in there the other night, and I could not find any of the merchandise for my sports team.
I will make a trip out to the larger mall in the city, and I will have to travel about 45 minutes. If this turns out to be disappointing, I will resort to the Internet, or I will just stick with the "big box" stores, as much as I loathe them.
Post a Comment