The Grim Outlook for Malls, the Long-Forgotten Form of Shopping

Malls used to be the meeting place for old and young alike. With their fresh and bright interiors and glittering store windows, malls were like fantasy lands. However, thanks to today’s economy, they have palled in comparison to what they once were. So, are malls slowly going the way of the dinosaurs?

The Future of Malls

There was a time when malls were alive, bustling with activity, and full of delightful smells and stores. However, they now echo eerily with long-forgotten shoppers. Malls were used for more than shopping; they were a gathering place for people to meet and catch up with gossip, or just to meet new people and forge new friendships. The atmosphere was electric and alive with activity, which is now sadly no longer apparent today.

In a recent report by Coresight Research, a prediction was made that in the next few years, more than 1,000 malls would close due to the rapid decline in the economy. If that’s not bad enough, it was also projected that 40,000 to 50,000 American retail stores would be closing their doors for good by 2027.

Looking to the Future

Bloomingdale’s is one example of a store that’s decided to leave malls and look into paring down its size. Their plan is to downsize into a store they’ve named Bloomie’s, bringing the energy of their massive department stores into a smaller space.

The good news is that malls aren’t ready to roll over and die just yet. There is still a light at the end of the tunnel for these magical places. It has been reported that Gap is having a great year seeing record sales thanks to Da’Vine Joy Randolph’s gala met denim gown, and the unique shirt dress worn by actress Anne Hathaway. So there’s a glimmer of hope yet to be found!