Post: The great American mall is in trouble. So developers are rethinking it
From the article: Analysts and insiders say two things are happening, even now:
First, strong malls are adapting and getting stronger. Many stores, for example, will keep options they added during the pandemic, such as curbside pickup. “A lot of consumers don’t want to expose themselves inside the stores,” said Nick Shields, senior analyst at market research firm Third Bridge Forum, “and see curbside pickup as an alternative to shipping it straight to home.”
This seems reasonable to assume.
Second, other malls simply won’t look like malls anymore.
CBL spokeswoman Stacey Keating said the company has replaced poorly performing department stores with stronger retailers, restaurants, entertainment venues and non-retail uses, Keating said. And it has transformed some properties from traditional enclosed malls into suburban town centers.
“At the same time, we believe there is still a place for successful fashion department stores as part of the overall retail mix and see that continuing into the future,” she said in an email.
This seems like a desperate denial that there is a problem.
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