Malls Making a Comeback!!!
Well, a 0.1% comeback. But hey! Anything suggesting that the next generation(s) might enjoy malls the way I have is music to my ears. According to this article on CNNMoney.com, malls increased their market share of consumer dollars from 2.4% to 2.5% last year. This is a far cry from the alternating stagnation and contraction they’ve experienced in recent years.
The article attributes this success to several factors: first, mall leasing agencies are becoming more creative. For instance, more and more malls are leasing space to Target discount stores. In some areas of the country this has been a common practice for over two decades, but now malls across the country are cashing in on the stability and wide customer base offered by Target anchors.
Also, mall leasing agencies are diversifying the properties inside their malls- the article lists movie theatres, gyms, and hotels. All of these increase the image and drawing power of shopping malls.
