Are malls dying? A quick Google search provides many articles that make reference to 'the death of the American shopping mall,' so it would appear that that may be the case.
The author of a recent New Yorker article quickly points out that the increase in people shopping online has been hurting the mall economy. In 2013, internet sales reached six per cent of the total retail spending, which nearly doubles the total from 2007. We've mentioned this in other blog posts and we're not surprised to read it again and again. Online sales are increasing while bricks and mortar retail sales are decreasing.
Many companies have pivoted to accommodate the change in their economy, which means they're downsizing the stores they have in malls or pulling out all together. Some are focusing their efforts online and others are moving into countries that haven't felt the affect of dying malls, yet.
Like companies making the decision to pivot, we believe consumers are doing the same. It's very simple to get what you want by quickly ordering it online. Some people will always go to the mall because it's where they like to socialize, people-watch, meet up with friends, exercise (mall-walking!) and shop, of course. But, if strolling through a mall is not your thing, for whatever reason, then you probably prefer shopping online. And, lucky for you, there are more options than ever to get your favourite items delivered! We'll talk about this more in another blog-post.
The point we're trying to make is this: the retail landscape is changing, and not just figuratively anymore. Online shopping is growing and growing and growing! And if you're shopping more online you're obviously receiving more packages so keep them secure with a Got-it Box. Make your life easy!
For now, check out Buzzfeed to see some pretty amazing photos of dead malls in America.
More articles on this topic, if you're interested:
America's Shopping Malls are Dying A Slow, Ugly Death