Tuesday, January 12, 2016
Once upon a time not long ago, a mall was the gathering place for teenagers and adults. It was the happening scene in many a town. That has changed and malls today are facing extinction. There is no mystery why. Americans have changed their shopping habits. They buy online. They look for bargains that can't be found in a typical anchor store such as Sears or Macys. No amount of PR or publicity is going to change the new habits of Americans. They have been taught a better way to shop and they like it. So, retrenchment is what the retail chains must do and in the process, they are killing malls that depended on their presence. This is another reminder to business persons that nothing is guaranteed and change occurs constantly. Mall developers now need to look into alternative uses for their empty buildings.