The retail shopping mall is dying.
At least that’s the sentiment shared by most. CNBC reports that 25% of malls in the United States are expected to shut down within the next five years. Large mall owners are drowning in debt. The COVID-19 pandemic shattered the brick-and-mortar retail sector as consumers moved much of their shopping online. Developers, cities and towns are searching for ways to make use of already-dead malls, as many seek to convert their remains into affordable housing, offices and gyms.
For others, the shopping mall isn’t dead quite yet. Yes, the great indoor shopping mall – where teenagers congregate, food courts flourish and escalators shutter crowds to a multi-level retail experience – is likely in the rearview mirror. But as pandemic lockdowns ease and people are eager to re-enter the world, the in-person, outdoor shopping experience maybe on the precipice of a renaissance.
Join Built, the Bluebeam Blog, in the above video as we dig deeper into the future of malls.