Why U.S. Malls Are Disappearing
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- Опубликовано: 3 мар 2021
- Shopping malls in the U.S. were already in decline before the Covid-19 pandemic as consumers shifted away from traditional brick-and-mortar stores to e-commerce. The outbreak has only exacerbated the challenges at malls as social distancing has placed restrictions on stores, movie theaters and restaurants. So what will become of malls in America after the pandemic ends?
Shopping malls across the U.S. have been reeling as restaurant and retail tenants struggle to keep their doors open.
Data compiled by Coresight Research shows about a quarter of U.S. malls could close over the next three to five years, accelerating a trend that began before the pandemic.
Simon Property Group - the nation's biggest mall owner - said earlier this month that its fourth-quarter revenue dropped by 24% on a year-over-year basis to $1.1 billion.
However, some analysts think Simon - with its portfolio of A-rated malls and a healthy balance sheet - will benefit as distressed malls operated by its rivals close their doors. The company is also expected to see gains from new additions like hotels and luxury residences.
"Unfortunately there are a lot of centers that don't fit that high profile and that have lost their competitive edge," said Piper Sandler analyst Alexander Goldfarb. "The thing about Simon is they've been really focused on maintaining it, and that's both been through a combination of culling the lower productive centers as well as making sure that they keep investing in their top centers."
Simon Property Group CEO David Simon said the company is also getting a lift from increasing traffic at some of its locations and from tenants paying their rent on time.
Malls are a big tax driver for the communities they serve and employ lots of people locally. Watch the video above to find out more about the struggles U.S. malls face and what could become of them after the pandemic ends.
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Why U.S. Malls Are Disappearing
The malls started charging too much money for goods. Middle class salaries and wages stagnated. People turned to Wal-Mart, Target, and Amazon for better prices.
Same here in the UK ! Cheap grocery stores like Aldi are doing well here also . But I miss a day at the Mall , you can’t try on clothes , shoes , get coffee and lunch online Amazon !!! Covid has changed all our countries forever 🥲
🧐TRUE I REMEMBER THE 80"S THINGS WHERE CHEAPER THEN NOW
rent in mall is as much as 5 to 10X higher than renting outside the mall.
You cant justify that rent now with covid and online shopping
@@thornbird6768 This was already well underway before the pandemic, malls were being deserted in the West.
Thugs took over malls&chased PAYING customers OUT!
This is a FACT!.
I feel lucky to have experienced mall culture at its height as a kid
It does stink that the smaller malls aren't doing so great. But that was really the main problem, that there are too many malls. The malls that will innovate, such as the ones owned by Simon, will likely succeed.
Mall culture still exists in Asia. In the Philippines there is an actual adjective created for just going to the mall which is called malling.
@@rl8429
No
@@chlemtom1 50 years too late
@@chlemtom1 I'm kinda hoping SM expands to the US. They seem to know what they're doing.
Here in the U.S. I noticed that the malls here do not have grocery stores, drug stores, or hardware and appliance stores. These stores could help to keep the malls afloat.
in my country shopping mall there are 2 grocery stores and a lot of hardware stores
I live in New Zealand, where malls include a cinema complex (Hoyt's), a supermarket, a drugstore, and 1-2 appliance stores. Only hardware stores are lacking. Only one mall in the entire country is at risk of failing. The reason is that it was built in the 1980s, and a rival mall has just opened 3 miles away. The dying retailers in this country are in city centres, in buildings built before WW2.
In the early 2000s all of the stores of those types all started building their own buildings with separate parking lots. All of the malls I grew up near had a CVS in them but now CVS, Walgreens and Rite Aid all have their own places. Hardware/Appliance was Sears until Home Depot/Lowes.
i agree, the malls in the philippines have everything lol
But that was what made malls unique, discretionary spending on wants not needs, so to speak. Though the Sears stores had hardware and appliances, that was sadly an exception.
So interesting seeing the cultural shift in real time. I do wish the piece had mentioned the very deliberate overbuilding of malls that developers did in the 70’s and 80’s as part of loan scams or taking advantage of the loan process to make profit. It is a large part of malls collapse.
I worked for a large mn developer for 29 yrs and saw that all the time. As their controller they never listened to me as the developers made millions playing that stupid but very profitable game.
Should have to have a huge amount set in escrow for its eventual demise or cleanup of things like lead and asbestos..
@@planckismus Ok - I watched the whole thing and missed that. The price should have highlighted the primary reason malls are failing is because of the literal loan scams by developers that over built malls to an unsustainable level even without the internet. Should have been about 90% of the story. Best wishes and have a good day.
You actually still have that.
The mall was fun as a teen in 1990-1991. We would hang out and try to talk to girls and go to the music stores to buy CD’s or cassettes. We would get something to eat at the food court and play video games at the arcade.
I wish I got to experience that except I stayed at home smashing my keyboard
Thats how alot of my weekends went as a kid. Amazon , online shopping and lazy consumers have changed retail and killed many malls.
@@RF-vg5kv lazy consumers..more like more convenient and cheap producers and sellers made us lazy
Ryan those were called the good ole days circa 80s and 90s
@@robertlind1511 orange Julius. Tape World
I hope in store shopping doesn’t die off, I really liked being able to buy products in person and try stuff on. Sigh 😔
Me too
I don't see in store shopping fully dying off. There are always going to be some items you might emergency need today (and are too big to drone ship) and a section of the population will always want to try on clothes.
I don't think it will. I think there is a sizable population that likes shopping the traditional way. It's jsut we are jsut seeing fewer stores to go to but they aren't all disappearing.
It will be dead completely within 10 years completely. No in-store retail shopping will exist except grocery and pharmacy.
@@metalmeister3054 I doubt it. There is still some out there that like shopping the real way. And it's more than just me. True we are seeing a decline because of less demand due to online but I don't think it's going way completely. There are also cons to buying online like having to wait and buying something before you know what you are getting. If it does happen it will be way longer than 10 years. It would be at least 50 years.
To comprehend the concept of the mall, you had to live in the pre-mall world. Shopping meant walking from one end of town to the other in the rain, snow, wind & hot sun. Crossing and recrossing streets. Taking an hour to find a parking spot then walking all the way back to that car when done. I remember being exhausted! Stores were often old, pre WWII buildings, no escalators and only an occasional elevator. Then the first mall opened and our world changed big time. Then they morphed into a kids-only place and now the Internet is driving the final nail in.
I REMEMBER THE PLAZA IN EAST SIDE NEW ORLEANS IT WAS NICE IN THE 80s and 90s BUT IT ALL CLOSED DOWN AFTER HURRICANE KATRINA 🌀😭😭
Most mall stores don't have shopping carts to wheel your purchases around and to your vehicle. Mega malls were good for a long workout if you bought much. Walmart has an easier setup to get a bunch of stuff to the vehicle
Are you shopping in Romania ? An hour to park pre-WWII buildings🤣🤣🤣
You forgot to mention the great shopping music in the pre-mall era😁
Sounds like a healthier America!
When we opened our business in the mall, people were like, "you know mall's are dying right?" 25 years later and things have remained. The past 2 years have been rough but we survived. This subject doesn't necessarily apply to all malls, depending on where you are located. Working from home and ordering online is turning everyone cold and mechanical.
•Beep• •Boop• Us robots are superior to you fleshy humans.
Have a nice day.
@@janam836 We've had to socialize with family and isolate for the past 2 years! Don't you enjoy getting out and off the couch and socializing with public? Did you know that over 60% of online orders get returned because the wrong item got ordered or didn't fit? Nothing will ever replace the "touch and feel" experience of products. Online is not my idea of a pleasant shopping experience. To each their own however....I'm just old school (and old!) LOL
After the 1973 oul embargo, every mall in the Pittsburgh area saw a decline in sales, except for South Hills Village. Why the difference? South Hills Village was within a mile of the last Streetcar line in the Pittsburgh Area. That line ran on its own Right of way to doentoen Pittsburgh and thus ran independent of the local highways. I remrmber taking the streetcar to Sourh Hills Village and getting off the Streetcar with dozens of other shoppers. We had to walk to the mall but it was close by so not a far walk.
In many ways that is a key to a mall's surviving, does it has access to transport other than automobile? In most cases the answer is no, but in the cases where that us not the case, such malls will survive.
@@dalegribble60 I don't like shopping online. But I have noticed people that do sometimes over do it. Amazon packages every week.
The malls were good. It gave a person a chance to look at other people, sometimes talk with others. I kind of miss shopping downtown and it gave you a chance to really stretch your legs
When you lose your major retail stores like, sears, JCPenney, belk and Macy’s, that’s when the mall starts going down.
I preferred malls over online shopping. Especially when it comes to clothes. Sad to see them disappear.
I agree with you 100%. I don't mind buying things online. When it comes to clothes and shoes I want to see exactly what I'm buying and feel the material and be able to try on the shoes.
Tf u mean? Theyre still around. If you want to buy a shirt at a mall go do it.
I really think that the idea that people prefer to shop online is made up to help explain why the economy is dying. In reality it's lack of disposable income, huge amounts of inequality, frozen real wages and debt that are stopping a lot of people from shopping in the way they used to.
@@TheRedWabbit I think you're on the right track about that. It seems that the country is going to be the haves and have nots. No more middle income people.
@@TheRedWabbit I think you are onto something there. The middle class is being pushed aside with low and stagnant wages.
Even before the Covid, malls were declining and less people were visiting them, especially with online shopping.
Malls are failing because all they sell is cheap knockoff crap.
Why not just go to the swap meet and get the same product and you can always haggle a good deal
Wow!! Really?? Tell us some more stuff we dummies don't know!
Uh, they said that in the video. (4:50)
@@omegaforce1262 Shop @ the SWAP MEAT??? Idk where you live, but that is ground zero for cheap knock off crap! Not the mall.
No, there failing because our economy is slowly closing. Look around. You can see it better in medium to smaller towns. Better start prepping.
They forgot to mention that things are generally cheaper when they’re bought online. People started realizing the same pair of shoes was marked up $20-$30 in the store than online. There’s cheaper costs to running a website than an entire store so the prices are marked up way higher when you buy things from the mall.
Swap meets as well
And while you save money online, your neighbors and their kids don't get the jobs the mall used to provide. Great.
@@JonFrumTheFirst You mean the jobs that pays minimum wage at the mall? And there's plenty of other jobs out there besides working at a mall.
@@Aviciifi Yes, that's exactly what I mean. Jobs that can be a first job for kids, to teach them how to work, and part time jobs for people who want second jobs and need flexible hours. My first job was in retail, and most everyone I worked with was the same. But apparently you're too good for such jobs - did Daddy give you a job at his bank? Poor people and people with little education need to start somewhere, you know.
@@JonFrumTheFirst It seems like you ignored the second part of my comment. There's plenty of jobs you can get outside of the mall. There's many retail stores, fast food chains, and businesses to work for that aren't in your traditional mall.
When I managed a mall shoe store in the early '80's, we used "keystone" pricing - in other words, if something cost us $20, the retail price would be $40. At the end of the season, we'd mark down the stuff that didn't sell, and that's the only discount anyone ever got. Think about that - 50% margin, 100% markup. We had to pay the mall x% per square foot, and our sales folks worked on commission.
That's what killed malls, and it started well before online shopping was really a thing. People figured out they didn't want to pay for the mall environment, and were ok with less service.
Thanks AL
Commission sucks. Even with large things. You don't know if you'll make a sale.
Then came the outlets & outlet shopping which is slowly dying too!
@@jgrysiak6566 isn’t outlet shopping the same as off-price retail shopping also? Liberty village is already dying in NJ. therefore since stores won’t sell through their retail merchandise or won’t put it on display they’ll send them to the outlets or other third party stores like TJMAXX.
The main reason I like malls is the food court, no online shopping can replace.
Just go eat out by your house. By me there’s entire areas of just restaurants and diners. Why eat cheap mall food when you can eat at a real restaurant.
Well that’s sad. Food court cuisine is dog-food-depressing.
Just order delivery lmfao
I thought I'm the only one liking the mall food court lol
I used to like malls till they cut out smoking indoors
Let's face the truth, most people's disposable income is decreasing, and online shopping is cheaper, for saving money and saving time, people prefer shopping online , the cycle goes on and on....
True story.
Actually, I DON'T prefer shopping online. That's actually propaganda, LOL! WOMEN like shopping for emotional reasons, even when they don't intend to buy anything. That requires going to a store.
The other fallacy is that it's CHEAPER. It is NOT CHEAPER! And you don't really save time. That's more propaganda.
Shopping online limits your access to products you need right now. And then, there's shipping!
Big Box stores stopped carrying the necessary goods that people wanted and referred them to shop online. One problem is, that you have to wait a very long time for some of those goods and the quality can be iffy at best. If I can find it at another store, even if it's a half hour drive to get there, I will buy it there because it is cheaper in the long run, and furthermore, It's what I want, rather than what they want me to buy!
I'm not into the plastic junk, cheap knock offs and impulse buying. When I shop, I want REAL goods that will last. I want to be able to inspect them and see how they are put together and their quality.
In the day and age where Corporations BUY upvotes and reviews, I'd rather do my own in person reviews.
The winners the delivery companies they will be rich asf!
I personally like to touch, try and smell the products prior to buy, not mention as human beings to see and contact other people, eat in a restaurant while shopping, I refuse to be a prisoner buyer clicking things in the stupid on line catalog, Malls are here to stay and coming back in the big way, is a matter of human nature.
@@dardotoscano9319 I don't believe the malls are coming back in a big way, however, what is left of the small businesses and companies that survive this plandemic, if they don't mess us over again, will be the winners and not all of them have online catalogs. They still have storefronts.
There's a TON of commercial building going on in Central FL right now! TONS! Businesses are moving here from other states.
I live in south east asia, mall culture here is THRIVING for us. Students always go to the mall after classes, still in uniforms and play at the arcade/go to the food court. In my city alone theres over 6 malls all fifteen minutes within each other
I say, turn them into assisted/senior living.
Large rooms, mall walking, etc.
Tear up most of the parking lot and plant trees, gardens, solar farms...
Bro
Teenagers MADE malls. By the time I left high school many malls had huge policies against letting teens gather in large spaces without adult supervision.
Teens don’t have safe hang out spaces anymore. Between mass private property restrictions and internet access, kids just stay at home.
Depending on the area, kids don't have lots to spend so the mall traffic at their age is doesn't usually translate to a significant financial impact. They go to the food court and buy candy. Maybe some gifts during holiday times
Go to the park
@@davidd4696 Some areas don't have parks either. I'm not a teen, but I thought I'd chime in with that.
@@Glassboxgames daycare? Teens don’t need to be babysat. They just wanted a place to hang out with each other. I think that’s funny you mention it being detrimental when consumerism touches every part of our lives regardless. But go off.
@@davidd4696 go to retirement home boomer
Malls have been dying for years now.
The only thing bad about online shopping is that you can't try clothes on.
Also, shipping isn’t free unless you purchase 100 dollars or more.
We have some big stores called Boundary Outlet. There are only about three in the whole of the UK but well worth a visit for clothing and footwear.
Yes, delivery costs can be an issue for single or low value items. Meanwhile, if you buy an item of a certain brand, their size should be the same across their range of garments. I’ve bought shoes online (same brand, same size but different style) and had no problems with the fitting. Hope that helps.
And you can't feel the material, if is good or bad,and some sizes are different depending on the brand😮😠🥺😒🤔😵☹ etc.
Stoped going to the malls about 5 years ago, in the end my wife and I would just go to window shop, and try on clothing, then we would place our orders online.
I remember when the mall was the mating place where people shopped, ate food, exchanged numbers, older kids buying clothes to get ready for the club that night, cool toy shops.
The memories was always be with me
Another problem not mentioned here is the increasingly unruly environment in which malls exist. When gang violence invades the mall, such as in the multiple mall shootings over the Black Friday weekend just past, an anchor tenant disappears within a year and you have a dead mall in less than five years.
The elephant in the room nobody wants to talk about because that would be racist.
We got a mall 5 miles form us we do not go into that one due to the neighbor hood gangs and rude people
I would not feel safe in a mall today. Defund police and the thugs are at your mall to shoot it out or steal from you.
@@patrickmurphy8222 please tell me what’s racism/race got to do with this? All races engage in gang activity. Black white hispanic and Asian. With such an ignorant statement, you’re definitely white. I see more white kids trying to join gangs and engage in gang activity than blacks or Hispanics now-a-days. Mainly to portray an image of being so called tough. Your race blame tactics is the only elephant in the room. Stop being foolish like your counterparts in the comments and observe the world around you instead of your diluted bubble.
Y’all better be careful with mentioning gangs and Black Friday in the same sentence.
They're closing because the middle class is disappearing. Look at 1950 vs now. We have less middle class who can afford going to malls. Wages have been stagnant for decades and we wonder why?
Also, vacant job people with high qualification.
@@maroon9273
Tell your kids to get jobs were you have the lowest of the low in society that need to be kept from society and they'll have a secure job. Knuckleheads.
it's not just middle class going away. The new middle class spending habit is totally different from 50s middle class's. Upper middle class still go to malls, just the high end ones. You will notice there's a lot of investment to attract those new upper middle class all over the places.
@Cali SocReject yep sad 😔
@@Denverian Thats true to.... a story of the have's and have-nots! Im in southern california & malls still get a ton of traffic.
I really think that the US should have malls that are comfortable. That are great for hang outs such as having cafe/ coffee shops instead of just for shopping.
I think that's going to become more apparent because who doesn't love people watching.
I've been saying for years that one of the absolute biggest, most-shorted mistakes almost malls made was the over-reliance on young adult female shoppers. I think their logic was that as women have made strides in the workforce, they would continue to increase their mall spending, so they should increase density and reduce idle areas to get people to flow into stores. I remember growing up, malls always seemed to have plenty of space for families to hang out with kids or husbands to sit around and wait for their wives, but it seems like over time, those things disappeared and now it's almost entirely just stores for adult women with no sitting space. It was only a matter of time before this would come back to bite them. In almost any mall nowadays (well, before the pandemic), it's common to see tired husbands standing in the middle of a central walkway, bored out of their mind and having to continuously get out of people's way, because there's nowhere to sit and they don't want to follow their wives into the stores due to narrow aisles and getting boxed in by other shoppers. There's no way this was sustainable. At some point, people are just going to prefer doing their shopping online, and demographics are always changing. At some point, those adult women spenders become mothers, and then how are they supposed to go to malls where there's no place for family to just relax? Then there's also the fact that certain high-margin businesses like diamond stores that used to be mall staples are now severely undercut by online competitors which also offer a vastly superior experience because they emphasize education and quality. I know book stores had their hey-day long ago and B&N has its own troubles, but I feel like B&N does all of this way better most malls. B&N may be overpriced relative to its online competition, but it still manages to offer a compelling place to shop because it values the overall experience. It's one of the few places where someone can sit, have a coffee, and read a book while their spouse goes and buys overpriced stuff.
One of my worst memories was going to the mall with my mum and my aunt. I’m a girl that hates shopping and my brother went to the playground and got ice-cream. My mum & aunt were only looking at clothes for themselves and I had no where to sit for hours. I sat down on the inside of a window and got given out too. It’s not a bad worst memory but it makes me hate malls. If I was allowed sit in a cosy area and go on my tablet I’d have never complained about going to the mall every week.
Yeah look at Asian Malls. Its astart to upgrade.
and entertainment. Simon owns Potomac Mills Mall which doing well. They've added Round 1 and Zava Zone entertainment park
Malls are competing with Wal Mart, Target, Amazon, and the rest of the internet. They need to offer value for money, products people need and want, and what they have always been good at - service. Our mall offers overpriced items targeted mainly towards younger people (I'm retired). Mostly high end clothes, sports shoes and clothes, jewelry, and a few phone stores. Montgomery Ward died a long time ago, Sears is out, no Radio Shack, no Hallmark, no Tom McCan Shoes, not even Hush Puppies. I know most of those stores are bankrupt but I don't have one store I care to visit at our mall. Put a Wal Mart in the mall and let them expand their product lines in several of the vacant stores. Put tools stores that carry quality tool lines you have to buy online now. Put appliance stores, mattress stores, furniture stores, discount shoes in the mall. How about specialized grocery stores with products from Europe, Africa, and South America. I think the real problem with the malls is they've raised the rent so high entrepreneurs have run the numbers and realize they can't make a profit there anymore. That's why there isn't even one store I would want to shop at located in the mall. There are two restaurants I frequent and neither of them is in the food court. My generation still puts on tennis shoes and goes walking there, but very few of them do any shopping.
I don't live in the US but I just hope malls won't completely die out because I like to buy clothes in person so i could try them.
I don't think they will. Malls are still very popular in the Middle East and East Asian countries because of the weather.
I used to go to the mall every friday afternoon with my grandparents in the 90's. To eat and play at the arcade and do some shopping! Literally every friday untill I was about 11 or so and my grandma started to show early signs of her alzheimers disease. To me, malls have something nostalgic and wholesome. Sad that they are disappearing..
All the growth in the economy goes to the one percent. The rest of us can't afford to support the malls. The fact is that most of the problems we face are from that one source. Billionaire liver paté could give them incentive to loosen their hold on the nation.
We can afford to support malls, but we choose not to. It’s easier to click “buy” on your phone & have it come to you.
Malls come with high overhead. When mall stores have to compete with Walmart and Amazon prices they loose profit margin when Americans have become hyper price sensitive. Mall stores can only let prices erode for so long before they go out of business.
In a way though it’s like the shoe going on the other foot, as the advent of malls led to the demise of so many traditional mom and pop retailers, who many still wax nostalgia for.
@@electrictroy2010 And what exactly does 'support malls' entail?
What amazon has got to realize is that shops only aren’t about BUYING things. You know, sometimes you wanna wander into a random shop and browse things for two hours only to do that with every other shop in the mall. And the food court, it’s a school cafeteria with a bunch of random strangers. Who doesn’t love that??
Best part you get what you want and you don't have to wait days for a product.
You can also check a random shop online too.
@@maroon9273 deliveries are mostly next day in amazon Italy. Isn't similar in US?
@@rinodb83 Only in certain areas. Where I live it takes almost a week..
@@chadgbeats makes sense, USA are huge
I'm Brazilian and I've already spent 3 months on vacation in the United States...I noticed this, I needed to buy some things and most of the malls are going bankrupt or abandoned. My aunt said that to buy things, she usually goes to buy each thing separately. Here in Latin America we have many malls, I lived 9 years in Spain and there are many malls there too. There are several RUclips videos of dead malls, it's very sad to see a mall open with only 5 stores working, they look like ghost places, I went to some, they were almost liminal spaces 🤷🏻♀️ And buying things online isn't always good, if something doesn't fit, it's much harder to exchange. I like to try on clothes before buying, it doesn't make sense for a country as big as the USA not have malls, honestly.
It makes perfect sense lol. Most people shop online or just go to walmart. I can get everything I need off amazon. I really dont go to stores besides getting groceries and out to eat. I can buy clothes, appliances, etc online cheaper.
Imagine feeling sad for the demise of the shopping mall as an American institution. I never thought I would, but this feels sad. Particularly in light of what is replacing them.
What is replacing it is better convenience and lower prices, You can keep the mall, Driving to and from and walking around just to not find what you exactly wanted or got overcharged for it NO THANK YOU, I love this world today, Delivered to my front door, Now I saved time out my life and I have more time for “real” social time.
@@commonsense3921 Nothing beats nostalgia.
@@commonsense3921 dude you missing the entire point the mall isn’t even about shopping that’s the last thing malls are about the experience the visiting the vibe ..
I work full time 7 days a week. I return to tidy my apartment, work out, and make food. I don't have the time and energy to wander around the mall to look at expensive goods that I can't afford.
What's your occupation?
I make my own clothes. Have been a Couture Seamstress since the 1970's, making Historical Clothing now, and loving it. Heading to the east coast next year.
If you can't afford whatever you want and are forced to work 7 days a week, maybe you should rethink your life choices.
@@B1gLupu already am. Unfortunately, my liberty is limited by by how much money I have.
@@civilengineer3349 Can you explain to me how can one be so broke while working 7 days a week? Are you living above your means or is your job paying actually so little you cant afford to live?
1980's, 1990's and early 2000's were the golden age of mall shopping and hanging out.
Guessing you weren't a teenager in the 80s.
It started before the 1990’s, but I would only know that because I was a teen in the 80’s, and that was our Saturday outing
Glad I was born in 1980
@Kristoff Gerhardt 1991 and 1992 is when I started my mall rat experience
As far back as the 1960s, when my children and I went to our Lord & Taylor and Altman anchored stores on a beautiful mall.
I am not suggesting this would be easy (zoning issues, change of mind set, and capital available) but I think a significant amount of malls could be turning into self reliant senior living centers. The video hints at the possibility, without fully fleshing it out. My idea would be take a failing mall and convert many of the stores into self contained apartments designed for seniors. Then include medical practices, convenience stores, cafes, leisure locations and restaurants all to service the residents in the apartments. Much of the parking lots to be turned into parks and gardens. Seems like this would make better use of the malls and free up required housing stock. A similar idea could work to convert into student housing, if the failing mall is close to a college campus.
That sounds wonderful!
The middle class is Disappearing too. Only the Rich and the poor will be left!
That's the plan.
@@briangulley6027 :(
Thank democrat policies for that.
Malls were family gatherings and a great social circle.
Thank Republican policies for this.
What is hurting malls is the type of stores, the experience, and that many mall stores end up having to overcharge for goods to make rent because they are charging too much.
This
Yes that's why alot are leaving also not worth it.
Greed
Also, if they actually have the thing you want. Online it is (mostly) always in stock.
@@zuur303 Haven't found that to be the case for the stuff I look for. Though right now brick and mortar stores are having trouble getting stuff in stock too. You can't try things on online. Nor can you look in the mirror wearing it online. There is just some stuff that is better in person that not enough places take advantage of.
The mall culture is very different in Asia and in the USA...In Asia, malls are not just for shopping, it’s more of hanging out with friends through watching movies, eating, wellness spa, staying at the food section/court chit-chatting and etc. I guess since we seldom do the actual shopping this is where the phrase “window shopping” comes in😄. I hope mall culture don’t die off here in the USA.
Teenagers stealing, fighting and harassing paying customers is what killed the malls.
Mall of the future: 1 grocery store, 1 convenient store, 2 cafes, 2 restaurants, a movie theater or a spa, plenty of shoebox size apartments.
You know what you're right...I could totally see them turning those empty mall stores into studio apartments
@@candicejoi5799 I hear the Trumbull Mall in lower Fairfield County Connecticut has a permit to this.
More unemployment.
@@canadianaja8030 True. Unless the businesses (similar type or same name) pop up in another area and employee people.
bazodee2
Exactly, UN Agenda 2030, stack & pack. 😢
I love how these CNBC clips on youtube are so much more informative than ACTUALLY watching cnbc on cable.
Informative? lol what
on RUclips you don't need to shout talking points for 56 seconds before commercial
I can tell you don't actually watch CNBC on cable, you just let certain politicians tell you what to think about the media.
Cable is something I will never miss
On youtube people have more choices... Forces them to be more competitive in their offerings.
I went to the Mall of America in Minnesota. We need more malls like that instead and other malls need to be converted in affordable housing and transit centers.
I stopped going to malls when every square foot of walkway was crammed with hyper aggressive kiosk sellers
Totally ruined the experience of going in the first place
1980's - "Video Killed the Radio Star"
2,000's - "Internet Killed the Retail Stores"
2020 - "Covid-19 killed whatever was left"
BLM Riots added to the death in 2020. Not a good year for a road trip.
@@googleuser868 26 million took to the streets protesting for a civilized society with the rule of law. Those 26 million people killed less people than one right winger named Dylann Roof, who police bought Burger King for as a reward.
@suresh mopi Nope
@@abram730 Way more than nine people died in the riots that ensued. Nevermind death toll, Roof didn't trash thousands of businesses unlike Burn Loot Murder, while claiming to be for black lives.
....Artificial Intelligence killed traditional occupations
prices of clothes got too expensive. Go to clearance store, online, discount stores to get it cheaper. if all the discounts stores went to a mall format, they would bring the customers with them.
Interesting idea.
What do you consider to be a "discount store"? You said everything but an outlet mall which would solve your problem of "clothes got too expensive" problem.
There are outlet malls. They usually aren't fully enclosed tho.
@@CC-si3cr in America: Ross, TJ Maxx types and Macy, Dilliards clearance stores in many cities offer good quality apparel at half the cost at least the problem has been solved by most people. shop there. I was speaking on the decline of indoor malls. outlet malls are a different thing, which I personally haven't seen as a significant bargain.
it's the landlords fault. the rent for those stores were incredible. someone told me a small store in a busy mall was going for $10k a month back in the early 90s. outlet malls are not new. the malls in this video is what replaced those. we had one in my town when I was a kid. (1980) target bought a bunch of the stores that made up some of the mall that made it outlet style mall. now it's a strip mall. malls like in this video will eventually make a comeback. no one likes walking around in the heat or cold/snow to go shopping. it's just a fad for now and will die.
The actual location of the mall is a huge factor. Malls located in highly affluent suburbs seem to do well, while those located in areas that are much less affluent struggle. Also, malls in many of those less affluent areas seem to be overrun with cheap stores aimed at tweens and teens, and the higher end stores have moved out. And then there is the information the media never wants to mention, the increasing crime in many of those malls. The mall nearest where I live has turned into a youth hangout, and shoppers are constantly harassed and intimidated. It's not worth going to such a mall when you have to put up with harassment, threats of violence, and a lack of higher quality stores aimed at adults. If I want to shop in a mall, I travel anywhere from 40 to 100 miles to the upper end malls located in the suburbs of Chicago.
Fun fact, lack of public transport and decades of inflation with no wage growth does that
I think abandoned shopping malls could be still be use to be renovated for office for small online business for example and restaurant spaces, pharmacy and grocery stores. Instead of just leaving it empty.
If you've ever heard of "Mall Rat" then you've lived through good times growing up
@@beautifulroses1420 we all get older and older everyday
@@beautifulroses1420 I dunno... ...sure we’re just as guilty of living in the past by constantly reminiscing about “the good old days,” but if you look at this past decade or two, is it better? I mean, I can’t exactly ask my daughter, she was born in 2012. What does she have to compare it with? She won’t watch any television shows or movies with me to compare decades. If it’s not a super short RUclips video or TikTok compilation, she’s not interested. I mean, we had the dot com bubble, 9/11, housing bubble, recession, a great political divide, climate change, COVID, and the economic insecurities that resulted from it. Look at the 80s and 90s, and what do we have? Our great national tragedy was the challenger explosion. How many people were killed? Reaganomics kinda screwed things up, but really, was the 1980s recession that bad compared with today’s? There was the Gulf War, if anyone remembers that. CA had two earthquakes, FL had Hurricane Andrew... ...oh, OJ Simpson and Monica Lewinski. THAT was our political scandal!.. ...remember when we all were afraid about Y2K like THAT was going to be the end of the world? I’d say that’s no where near as bad as this century has started out. We were all looking forward to the new millennium too.
@@UmmYeahOk Sheesh, that is a lot when you list it out like that. I was born in 1995 and so I straddle the 90s, but for all intents and purposes I grew up in the 2000s. I didn't pay attention to politics at all until 2015-2016 really, so I didn't feel the weight of a lot of the crises from the 2000s and 2010s (except the 2008 recession).
@@beautifulroses1420 that’s not how generations work, buddy
@@naijaplayer I was born in 1982 I grew up during the 1990s.
It’s sad...we need our malls..I’m tired of target and Walmart!!!! Soon enough those stores are the only places left to shop.
Online!
@@christinebutler7630 Then phones then the chip! Why thank you Jesus for our wonderful freedom of enterprise to shut out competition! That's free will for you! Free will for the rich but not for you!
It isn't just the closure of the department store anchors.The entire retail sector in the United States have deep issues caused by the pressure to apease stockholders, to always be expanding and diversifying, to cutting corners so they can pay employees less, sell products cheaper, and maximize profits, to a simple failure to understand or even care what consumers want and need.
Airports are malls too
Target and walmart are better because they offer low prices and good paying jobs.
Buying clothes online is not the same as buying them in person. A major flaw that many people overlook is that different clothing brands make their sizes a little off. That is why it's better to try them on inside the store instead of buying online and then having to go through a hassle to return the package if the clothes don't fit right.
I also want to feel the material fabric is made of and if the stitchings are good enough.
Malls are just magnets for gangs. They're also high priced. One goes to a mall to check on what you want before you buy it online elsewhere cheaper.
Every single mall that we tear down in America, makes Amazon just a little more powerful. We’re going to regret letting this go too far.
Boy are you ever right
Amazon is the devil
@@ColbyBaber In my area, a lot of small town shops migrated to the malls. We've learned from the last year that economic power is real power, and we've handed much of that to Jeff Bezos. One man dominates commerce in America. Bad for America.
Amazon and Walmart! I used to work for that walmart(horrible place btw) and they compete with each other. They are both horrible! I don't know which one is worse. It just resides on which one has the most money at the moment
Think logically. Amazon has no showroom. It's dependent on physical retail to display goods that are then bought online. At some point the balance tips and retail itself is in danger dragging Amazon down. If you're not tempted by physical shopping then you don't discover that want you never knew you needed. Amazon is in danger of killing itself through its avaricious selfishness. A fitting end to the disrupters.
@@brynleytalbot778 I understand what you're trying to say. But, we're slowly raising a generation of kids, that have little or no "showroom" experience. Meaning, to them it will be as natural to see items only on a screen before buying, as it was for older people to only see items in a physical store first.
Furthermore, a lot of people(including myself) often go onto Amazon, and just "wander around". Meaning, I might go onto to look at DVD players, but soon I just start jumping around general electronics, and often I find a cool gadget I didn't even know existed, and I buy it. This is akin to the "old" days, when I'd wander around a large electronics store, seeing what was new. Except, that the selection at a place like Amazon will always be larger.
Nobody has time to plan shopping when everyone is doing 2 jobs
And those jobs are at the MALL!
Bingo
Also a hell of a lot of people are working from home; they'd like to go to a mall instead of just friggin' Walmart.
... If you have to do 2 jobs you shouldn't be spending money or time at the mall anyway lol
that’s false not even 10% of people in the us work 2 jobs this is extremely false
This blew my mind: "In 2016, every person in the U.S. had 24.6 or so square feet in retail space that could be just theirs."
With that figure right there, the problem of homelessness could’ve been solved!
I remember a time in mid 90ies when there already was a super mall-crisis, investors didn't get what they expected. This happened way a long time before the internet-retail and shopping online even existed.
It is not just e commerce!
The middle class is dying! Less disposable income!
No such thing as middle-class. You either have money or you don't
Tyrannical government is the fundamental cause of most economic misery.
@@MillionthUsername We had some economic misery during the Gilded Age while government was tiny
@@dereklangley8582 agreed, buying loads of stuff on a credit card to impress people achieves nothing but debt.
@Corn Bread gss was never gonna be around for long so stfu
When i was a teen in the 1980's Malls were cool place to shop & hang out b/c shopping outside in the downtown core of a city meant having to walk outside in the rain & cold wind. In a Mall you could stay warm & your shopping bags wouldn't get wet & there was better parking at a Mall.
By the late 90's i began noticing Malls adopted "No Teen Loitering Rule". "you kids have NO money, so shop or get out" attitude. You can't alienate the next generation of shoppers by not making them feel welcome. They won't come back & they didn't, they embraced online shopping.
Where they stayed when the malls realized the kids have more disposable income then the parents.
Unsupervised kids who are also undisciplined caused malls to limit them. Parents were using malls as babysitters.
@@susancampbell8597 If kids still need any kind of babysitting they should not be anywhere on there own!
Christa I agree. This is what happens when parents don’t parent.
@@susancampbell8597 That's not what I said at all. If that what you infered this would take to much time. Have a good day.
I think the ability to return products purchased online no questions asked was the success of online shopping. In other countries that is not possible, it has to be defective or fake for a retrun to be valid. Thats the reason why malls are still popular in other countries, they can feel, see, and verify the product before purchase.
Closing malls is a sign of a shrinking middle class with falling standard of living.
As a teen I went to the mall. As an adult I go to Target, Rite-Aid, WinCo, and Amazon/eBay.
The mall stores don't have any selection, their prices are too high, their service is awful.
I can't buy 100% cranberry juice at the grocery store (any the five near me). I can't buy a 100% cotton made in the USA shirt at any mall near me. I can't get rare books, vinyl records, board games, or video games at a mall.
Online I go...
I prefer the malls over strip malls, especially in Texas where it's HOT outside. I hate going in and out of the stores from HOT to AC, HOT to AC. I rather stay in a cool mall and shop.
If malls had apartments on top they would not have any problems. Europe is full of malls and shopping strips too but they have 4 to 6 story apartments on top. It's great for residents to step down to get what you need, and great for retailers to have guaranteed shoppers. And cuts down on traffic. And it makes neighbors more friendly. You run into each other at the downstairs shop, or gym. You talk, you become friends, etc. I never understood why Americans did not do this from the start, and it's part of the problem with the coldness and unfriendliness of American culture.
@@Metal0sopher American culture is centered around owning land and the automobile. Symbols of independence and freedom. Living in tight quarters like an apartment in a crowded city represent the opposite.
@@ivanfreely6366 There are millions of apartment complexes all over the USA, built far away from shops and malls. Why not build them on top of malls and shopping centers?
@@Metal0sopher As I was alluding to, people prefer to own their own home, on a plot of land that they can call their own. Also, there were a huge push post-WW2 for suburbs which aided the auto industry. And since most Americans don't like crowded spaces, the suburbs become popular.
@@Metal0sopher Not everything Europeans do is cool or desirable. Americans have their own styles and desires. I love certain things about Europe(great coffee, pastries, some foods, pretty churches...), but other things annoy the hell out of me in Europe(no AC, cramped hotel rooms, cars are too small, people drive like lunatics, no parking anywhere, taxes too high, food is overpriced,etc)
The time of “malls” was a real era of being social. Typing to a picture on a screen is not social at all.
Same $hit. Can't have one without the other
Exactly. People ditched downtown shopping and public squares for the climate controlled generic mall experience.. now that people hang out in virtual spaces in social media and shop online they don’t need the mall anymore….
P
*joins VR Chat*
Agreed
@@mrparts Yeah, we people with social anxiety are winning. 👍🥳🎉
THANK YOU SO MUCH. GREAT VIDEO AND A GREAT EDUCATION. THANKS FOR SHARING, AND I LEARNED SO MUCH.
I'm 29 and when I was in high school, me and my friends would go to our local mall in glendale Ca every day Friday after school. We'd go to the arcade play for a while, walk around the mall, watch movies, and pretty much just hang out. Those were good times. This was back in 2008.
Someone : Why U.S Malls are disappearing ???
Me : Welcome to Amazon prime !!!!
Internet allowed instant price checks.
Retail has rent upcharge on the goods, while online has a cheap storage location to lower costs to everyone. Mail cost is now the same as fuel to go to a shop, for many people, as well.
@@hey.sanoop already they have lulu mall right ??
@@dertythegrower yeah !!!
Keep supporting Amazon and soon there will be nothing left in your community to pay the taxes just me and you. We are our own fools, to think big is better, is just a way to control the marketplace.
@@peace8373 omg I was just kidding !
I feel lucky (for now) i still have a mall just 12 minutes away from my home that (believe it or not) still has an arcade, movie theatre, cd/dvd retail store, book store, fast food restaurants, candy store, water fountains, popular coffee shops, electronics store & a grocery store. I'm going to enjoy every moment of it until they tear it down.
What city
Now that sounds like my type of mall
Richey Rich
We have like two very functional malls in our city. And like 6 dead malls.
Nice.. hope it lasts
My son used to hang out at the mall before the pandemic. Now here in CA the stores close because of the "less than $950." They come in big groups and steal at the stores in the malls. 🤦🏻 AWFUL LAW!!!
1) Car dependency
2) Collapse of the middle and lower class disposable income
3) Lack of actual variety within the malls
4) Extortionate rates charged by the Mall to storeholders
5) Oversupply of Commerical Space resulting in an overabundance of Malls
The main reason is that most malls had overpriced goods. For outlet stores, I see them full all the time. Same for TJMaxx, and etc.
I’ve got some good clothes at TJ
Tjmax/marshals will always be around. They offer a great shopping experience for low cost items.
While malls are dying, smaller strip malls are springing up everywhere.
Ours are dying and turning into eyesores.
@@yosemite735 Your malls? No new strip malls?
I do like cities that preserve their downtown. My hometown never had a mall just a mid sized strip mall and a thriving downtown with brick streets.
hahaha you must be on LOng Island they're all over the place.
@@gewglesux No. I'm in Georgia. The south is thriving. We didn't shut down long and all the Yankees and West coasters have been moving south for years.
@@gewglesux i’m on Long Island. We definitely do not have enough Dunkin’ Donuts being built I can’t wait till 47 more spring up in the next couple years
It fails unlike asia because in asia people often dont have to drive to malls. In NA the influence by the oil company created the "american dreams" of everyone driving their car with freedom on the highway.... If u look up about oil company they played a dark role preventing america from developing railways, better roads for pedestrians, and more options for transit.
In asia most of the big malls are connected by the public transit or even the train. That makes it so much easier to access or even a place to just rest.
When I started shopping online I could get anything I wanted instead of just getting something I saw at a store. My last uncle died recently. He bought a house from Sears and built it on 3 acres of park front property in Cuyahogo County. He did well.
Malls are the backbone for “winter cities” and also the air conditioned havens for desert sun cities ... they are very important for seniors & teens - two large demographics that will feel more alienated in this post pandemic reset.
The mall in the Jewish section of Baltimore cracked down on retired men congregating in the food court. After COVID... if they continue on this track... I think they're going to find their progeny will stay away too. Leave those old guys alone.
It's truly amazing how different the worlds going to be once Covid is over
@@johnbowman1076 Why did they not like the retired men? They are quiet and good customers.
@@KentKaliber Probably something to do with trying to discourage teenagers from loitering. Problem is... hard to make it one way for some and different for others. Still, no one wants to see those nice men chased from their daily routine and back to their boring houses.
Our mall opens early every day because many people use the mall for their morning exercise (walk), especially seniors. It's a safe and familiar environment, not to mention good for their overall wellness.
Excellent documentary! In vietnam where I’m living malls have been largely repurposed into providing essential services like supermarkets, clinics, language schools, etc.
Malls were badly overbuilt in the 80's. In my area, we have some malls that have gone out of business, some that are on life support and will not survive much longer and three high end malls that are thriving. Basic supply/demand economics at work.
People would still like to shop at malls, the only barrier is their standard of living has deteriorated
This statement isn't consistent with the data. American households had record wealth in 2020. Good Malls did poorly because they had closures, restrictions, and reduced hours of operations. Bad malls did poorly because they were bad regardless
www.forbes.com/sites/jonathanponciano/2020/12/10/us-household-net-worths-hits-record-1235-trillion-as-stocks-boom-but-debt-is-also-surging/?sh=67646efa660b
@@lrt35 Let me guess, Americans had record household wealth in 2008 and 1929 as well?
Relative to history and other countries, you're technically right.
But also, lets not cherry pick data or omit information either.
40% of Americans don't have $400 for an emergency, student loan debt is at record high at $1.5 Trillion, 52% of young people between 18 -29 still live with their parents. Health issues still the #1 cause for bankruptcy. Inflation, Covid layoffs, automation, outsourcing, ect, ect.
Trust me bro people are poorer, that's why they can't shop at retail stores, instead they flood to Amazon on black friday to get discounts so they can stretch their dollar
@@danielmedina5720 No. The reason there's record wealth is because the Gov. has put trillions of liquidity into the economy and the fed has put even more than that into the market. This has led to record wealth and asset prices in the midst of record inequality. None of those infusions occurred in any other crises in history. That liquidity has also led to record income inequality via soaring home, food , oil, commodity prices, destruction of cash based wealth, and the inability to achieve a risk-free return. Those who have no need keep getting flooded with more wealth at the expense of those who have dire need. SO just because the needy have become more needful and devastated doesn't mean that there isn't record wealth in the economy and households, which is a common misconception. Yet, let asset prices plummet, and your original assertion will come massively true and all hope is lost for a quick recovery because that scenario would lead to a long-term massive drop in spending in all areas of the economy
@@lrt35 You completely ignored all the data I gave you as to why most people's quality of life is going downhill.
Let's not deflect like our sleezy politicians.
Yes, infusing Trillions of dollars does make asset prices inflate, making usually just the rich richer. But you omitted the information that you already know and that is that most Americans are not invested in the stock market, thus not participating in the massive gains and widening the gap between the have and have nots. Thus making the working class have fewer and fewer opportunities for retail shopping and other outings
Btw, you're wrong when you say these infusions have never happened before.
*The Troubled Asset Relief Program (TARP)
*Cash for clunkers Car Allowance Rebate System (CARS),
*Economic Stimulus Act of 2008 (stimulus checks)
*FDR "New Deal" (Social Security, Glass-Steagall, ect.)
Let's hope you respond to the things I just mentioned😉
I didn't ignore/deflect what you said, rather I concluded that all the data you provided can be true (the needy get poorer), while American households as a whole have greater wealth than ever due to trillions in relief/stimulus that inflate asset prices at the expense of low/modest income savers. Such unworldly direct payments and market infusions have never been attempted before, That's why it's refered to as an experiment which economists are hopeful of, yet don't know the ultimate result. In 2008 you had a $700 billion TARP program and a joke of a $25 weekly increase in benefits, $152 billion stimulus act for tax rebates/broadening of mortgages purchasable by Gov. sponsored entities. Whereas, during the period of $600 unemploy. boost alone, the Gov. was infusing $16.9 billion a week directly into folk's pockets, not including direct checks. There is unarguably more wealth floating around, yet if asset prices get destroyed, interest rate/inflation expectations keep rising (due in part to the untargeted portions of stimulus pushing up prices of goods) spending will collapse, and the devastation you speak of will ensue broadly. Furthermore, retail spending was up 7.6% YoY in Jan., broadly presumed to be due to stimulus, so how does that entail less spending? Although it was down 3% yoy in Feb., which could have been due to lack of stimulus certainty, rising interest rate expectations, and asset bubble fears more so than the needy being hurt because they too were hurt in prior months that had greater YoY spending. And lets not be mistaken, the rich are not the only ones benefiting from wealth inequality created by FED/fiscal policy, but also portions of the middle class who have been unaffected financially by the crisis and have record financial/housing assets, untold numbers of whom still receive a stimulus check that could have been allocated to the truly affected/needy and thereby wouldn't increase inflation expectations as much
www.census.gov/retail/marts/www/marts_current.pdf
Here are a comprehensive set of FAQs for closing a retail store. Go here to see them www.retailsalespro.com/frequently-asked-questions-about-store-closing/
US retail was over saturated. Combine that with the fact that generally people want live in mix use and walkable neighborhoods, it just the evolution of real estate overtime. There’s already plenty of mall redevelopments happening to show the future.
Only if you are redefining the word "mall", real estate and retail are becoming separated because the companies can make more money online with less responsibility for their cheaper products as they never face consumers.
The evolution of malls into a projected market of illusion. Logistics of dreams actually evolved into a goliath of offering from the contrast of the global market.
High end stores in NYC are still very busy especially Louis Vuitton, Gucci, Burberry, Ralph Lauren and Lacoste.
@@MrLoobu By mall redevelopments I didn't mean they would still be malls after. Some become logistic hubs, some are being completely torn down for new mixed use developments, and there are other options.
@@jimbohalsey8374 I don't even know what you're trying to say.
In Austin they converted a mall to a community college. Seems like an excellent use.
I enjoyed malls everywhere when I was in high school and after that. I still would rather go to a mall than shop on-line but the pandemic has all but made this experience... challenging.
They should just turn them into EV charging stations with few coffee shops
That would absolutely be genius. People pretend like we don’t have the infrastructure to make EVs work when America has already been turned into a giant parking lot.
That's a great idea! Malls are usually close to highways.
Not a bad idea. Maybe it could be an indoor vertical farming facility with solar panels at the top. It will be better for the cities since vertical indoor farming is more efficient than regular farming and they can just ship the grown food to the grocery stores, it’s convenient because they don’t have to ship food from the countryside and makes the city more self sustaining.
Most of my local malls have Tesla chargers.
why EV charges if we don't need leave our bedrooms: shopping, living, sexing, funning...evething is reachable by a computer or a smartphone these days
It’s going to be sad to see them go but I hope that something takes it’s place because people need a place where they can eat something and also walk around and interact with others. People are becoming more and more isolated and socializing with others is important and healthy for the mind.
Nah, I'll pass.
So true! I believe it’s very important for our youth to be able to get out of the house, get some exercise, socialize with others, have lunch or a snack and shop, especially clothing bc you need to try stuff on first before buying. If almost everything you do is online, it will isolate you and that’s bad for people.
Sadly, that's the goal...for us to be anti social zombies...smh.
@@caramelspice7244 Or we can, you know...find non consumerist ways to be social.
In my country, our malls have everything, from fast food chains, restaurants, luxury brands to local brands, tech stores, arcades, ice rinks, any kinds of spa, kids park, hotel, cinemas, public cafeteria, convention halls for events, we even have a church inside, carnival, grocery stores and more
I think that's the reason why our malls are still making money because of so much selection.
In our mall also, we have banks, gyms, even clinics, and we can pay our bills there. And some of our malls even have Hotel and sometimes call center place.
Airports will always remind us of what a mall looked like
The nearest malls to me are all at least 45 minutes away. One closed a few years ago (I went to it a couple of times, during it’s later “ghost-town” years). Another is in the process of closing, I think. Our usual go-to is still doing pretty well.
Toward the beginning of the pandemic, a new upscale mall opened near my uncle’s house.
I will miss malls. One time I bought a perfume at my Macy’s and the lady was so kind to give me not only tons of samples but a really nice handbag that I still carry today. You will never get that kinda experience on Amazon.
I was a 90s mall kid. Back then, malls had variety of stores. There were movie theater, pet stores, arcade, food court, toy stores, etc.
The malls now are mostly filled with overpriced clothing boutiques. The food is garbage and overpriced.... Our local mall is mostly used by people who walk daily for exercise to avoid the weather.
Ok old man
@@mustang8206 well I guess I'm an old woman, 70's mall was another era, mindset and higher level of respect, rare gun violence especially among teenagers, no cameras even cops were no brutes
Or those cringe as seen on tv stores lol
Thank goodness my mall is still up. After school, almost everyone goes to the mall. My mall had some ups and downs, for example during covid many stores closed down but my mall survived through that and I’m so glad it did 🩷
Disrespectful and rude employees is the reason why I stop going to the mall and I don't feel sorry for them
Why go shopping anymore. We cant even try things on or use the restrooms.
that's the govmts fault though.
That's their plan.
We can 🤷🏾♀️ guess it depends on the city you reside...
Basically
You can't try them on when you buy online either----and that's been like that for years. And most malls will let you try things on----but they have to open the doors and count my items. But that is ending as we speak.
When I was little, my local mall was always jam-packed with people. Now it's practically empty.
And remember all the community fairs festivals shows and performances in the malls?
That happened to a mall in my city, but I believe it’s because they all of a sudden started moving out all the good stores to a strip mall down the road and I have no idea why. Now that mall is usually a ghost town, and I’m just surprised it’s still open.
I wonder 💭 what will happen next great things,and thank you 🙏 for great 👍 video.
Thank you for the video ...... this is interesting
I'm liking these longer format "documentary" style news edits vs. the usual spin that comes out of mainstream media.
I hadn't even noticed it was posted by CNBC until I read this comment
Do you consider "Fox News" to be part of the "mainstream media"?
Me too, I imagine they’re trying to compete with the likes of Vice, Vox, and Cheddar
@@Northwest360 Absolutely, and I should clarify that longer format content can still have "spin" but at least these current examples seem to be pretty tame compared to most stuff out there. I like to form my own opinion, not be told what to think in great detail, lol.
Yeah because CNBC is not mainstream media...
People can demolish a whole mall building and convert it back into a nature park, filled with native flora and fauna, to preserve wildlife.
Nah. City can’t generate tax revenue from that.
@@velious2121 they dont need to
This idea I like.
Excellent idea but perhaps not so practical.
I have seen valuable real estate turned into new parks, on a smaller scale. Perhaps mixed-use. While I hated some malls, I quite enjoyed others; they were a great improvement over shopping strips and sprawling shopping centers. Before big box stores were really B I G boxes. And they had beautiful holiday decorations, especially Christmas. But I can't complain as I tend toward large stores and online shopping now, so ... time changes.
Stores in the shopping malls could be used as mini warehouses while they do have proportionate sales to run the business. They could even reduce delivery time. It's a part of logistics management.
When I was younger our parents would drop us off for hours to hang out. Now we have shootings and other problems at our mall. I tell my kids to stay away from the mall now. Myself and others I know no longer shop there because of the new problems they have there.
So glad i was a 90's kid and got to experience the mall hangout era.
Lucky
Yes, were do high school kids even hang out is my question?
My parents used to go to this mall but it closed do to bank reasons or something we drive past it sometimes
I was a 70`s kid…….. i even predate the internet.
@@prismstudios001 ok uncle
They need to turn them into micro apartments with food/coffee shops and grocery store. They did this to the oldest mall in America and it works!
Hello Toni
What a neat idea!
Mallification was a real thing. My family's business went out as a result. Mom and pop shops died. The issue is that we won't go back to mom and pop. Unfortunately, it means we're plunging even further into Walleworld (Walmart).
We are social animals, malls were great for us growing up. We always had a place to hang out when we were kids. Gonna miss malls.
The mall had a social element to it social media has diminished that element.
Nah. The social element has nothing to do with it.
@@christopherbeddoe406 Nothing at all?..Why not?..Explain please.
@@christopherbeddoe406 it has a lot. I grew up in the 80’s and the mall was the place to be.
social media is the leading cause of divorce as well.
Sometimes I like going to the Mall just walking and seeing people, interract with human
Why don’t they turn them into apartments like they are already doing
Yea plus they get free parking spots with rent
City zoning is probably a reason
@@johnl.7754 American zoning sucks. All of it is a clusterfuck designed to keep “riffraff” out. So now we have rich suburbanites clogging up city traffic. This video literally even said ‘it’s designed to replicate Gruen’s experience in Vienna, but in the suburbs”.
@@Rudenbehr zoning is not to keep "riffraf" out.
Zoning is very vital to city planning.
turn it into affordable housing for the homeless and treatment center
I was in high school when the first mall opened in my area outside of Seattle. I loved going there in my first car and shopping. There was a Frederick and Nelson store with a lunch counter that had Frango mint milkshakes that were out of this world. The closest mall now from where I live it’s about an hour and a half drive and it’s barely hanging on by a thread. I guess I miss the old days.
Change zoning laws for areas with dying malls. Include 3-4 floor housing. Flats or condos,whatever you call them. Build them next to the mall or over part of the mall. Put food shops,pharmacies,clothe shops,hardware shops,cafes etc in the remaing parts of the mall. The sea of parking lot around the mall if not used for the mentioned housing, can stay as parking for the mall and converted for parking and garages for the new housing. This will increase the number of people in the area closer to the mall (density) and reduce the distance for shopping,so people can walk to shopping, cafes, pharmacies and even medical establishments. So density,walking and supermarket/pharmacy/medical/cafe/restaurants in the mall.
With internet, TV, phone youve built a society of hermits who want to stay home all the time.
To shop. They want to stay home to shop.
Good
@@tejasmisra9115 bad for health, bad for jobs, But good for online bussinesses lol
@@epicpc_builder2314 Good for convenience
Nope, we're camping in the mountains or floating around Lake Mead on our boat.
Malls have become a drag...