Professional Retail Store - May/June 2018 - 10
SHOPPING MALLS AND ANCHORED CENTERS ARE RESPONDING
TO CUSTOMERS' CHANGING TASTES AND SHOPPING HABITS.
BY MARY LOU JAY
THERE ARE ABOUT
1,100 malls in the U.S. today, and one out of every four could be
out of business by 2022, according to a July 2017 article in Time Magazine. Malls started
having difficulties back in 2007, when the Great Recession hit; even after the economy
recovered, many consumers never resumed their regular visits. In addition, the rise of
online retail and changing demographics have transformed the way people shop.
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