Area shopping centers are adapting to keep up with new consumer trends. Read More
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Consumer habits shift quickly, and the places that rely on them must be agile. Nothing made that clearer than the emergence of online shopping and the COVID-19 pandemic. Both led experts to ring the death knell for shopping malls. In fact, Coresight Research estimated in 2020 that a quarter of America’s roughly 1,000 malls would close by 2025.
But don’t cry, “Et tu, Orange Julius?” just yet. Mall owners and managers adapted. They’re filling vacant spaces with businesses that require an in-person presence. And they have embraced the concept of “retail-tainment,” a shopping industry term that describes the juxtaposition of entertainment venues such as racetracks and parkour centers with traditional mall stores.
