In my area there is one large mall. I go there commonly to shop with my wife. When my daughters are home, we go there to shop and to just enjoy walking around window shopping. In my hometown, one mall is struggling while the other one is doing fine. Part of it is driven by the local clientele. People who have good jobs and secure homes, etc., have money to spend. You see them all the time at the malls and in the restaurants. In the current economy many many folks who once made good money working are out of work or else working at lesser quality jobs. They simply don't have the money to spend on clothes, meals, etc. It's the same thing one sees at places that sell boats and motors, off-road toys, etc.
I wonder if malls are going to survive
- Thread starter P&R Fan
- Start date
THE PILGRIM
Member
Haven't been to one in years. Was over at Walmart just the other day. Lots of folks there.
Malpasowildlifer
Member
They seem packed as ever, at least the one back home. There are only two bottle neck entrances and ever since a Whole Foods moved in, it seems like Christmas traffic all day, every single day. Very annoying.
we are sort of lucky. Being a relatively small community, (42,000) and the central business draw for surrounding smaller towns totaling about 150,000. Our mall is 100% occupied. During the week it is very comfortable to shop there, not crowded. Weekends are very crowded. The special seasons, Christmas, Easter, new school year, etc you stay away if you don't have to go as it is very crowded. The economic slowdown did impact us, and unemployment went up just not as bad as elsewhere.
Cal44
Member
Here in Roseville, CA the large mall still seems busy. I don't have any sales stats to verify that, however.
Real estate people who specialize in retail say that to remain viable, a mall needs an expansion or a major face life every 10 years or so.
Otherwise, they start to go gradually downhill.
It's hard for the mall owners to do this, however, if they can't keep the stores leased -- so it becomes a vicious cycle.
Our mall here was built around 2001 and had a big expansion and re-do of the interior a couple years ago -- and that helps a lot.
On the other hand, we have a surplus of new small strip malls built around 2005-2007 that are still mostly vacant.
The economy is picking up, and people are going back to work, but unless you have a college degree in an in-demand field you are probably making less that you did 10 years ago.
Dave
Real estate people who specialize in retail say that to remain viable, a mall needs an expansion or a major face life every 10 years or so.
Otherwise, they start to go gradually downhill.
It's hard for the mall owners to do this, however, if they can't keep the stores leased -- so it becomes a vicious cycle.
Our mall here was built around 2001 and had a big expansion and re-do of the interior a couple years ago -- and that helps a lot.
On the other hand, we have a surplus of new small strip malls built around 2005-2007 that are still mostly vacant.
The economy is picking up, and people are going back to work, but unless you have a college degree in an in-demand field you are probably making less that you did 10 years ago.
Dave
doublesharp
Member
not if they are depending on me.
Straightshooter2
US Veteran
The Mall near us is in pretty bad shape as far as stores go. J. C. Penney has moved out, Macy's closed years ago although their parent company combined them with Rich's which was a big name in department stores for years in the Atlanta area and it's now under the Macy's name. Sears has basically become an inside the mall K-mart. All the small clothing stores are rather ethnic. Last time I was there, just as I parked an SUV pulled across behind me trying to block me in. Fortunately there was enough room between the car in front of me and the car beside me to go through and the next thing they knew, I was behind them. They took off while I found security and gave them a description of the SUV. I wouldn't have even been there except I needed to pick up mom's hearing aid from Miracle Ear. Also, I think it's a Simon mall now which means that only thugs and gangbangers are allowed to be armed. Honest citizens are required to leave any weapons in their car.
CW
CW
It was kind of a shock for when yesterday when I went there. I go to a mall maybe once a year.
I think the reasons for this are the internet has captured a large segment of the buying public, especially younger people. But I have a feeling the malls have raised their rents so high businesses won't pay. Where I live we have two towns adjoining each other. The one I live in is a blue collar union town. The other is a college town. (I'm sure you can figure out their political leanings, so I won't go there. Lets just say I'm in the minority in that regard).
The college town is much wealthier, but that's where this mall is. The strip malls are going up everywhere, which is why I think the mall rent is such an issue.
Wally World still has a bunch of people in it. There's one in each of these towns, and they are thriving. I think that is because of their pricing. In the mall I was in yesterday I wasn't shopping, I was just wanderin' around. I stopped in Younkers because they had a big sign advertising jeans at 40% off. I usually buy my jeans at K-Mart, and pay about $15 for Levis. Levis in Younkers, at 40% off, were $39.99.
In this economy, that ain't gonna work.
The big chains they are losing is one of the worst blows. Both malls lost a Scheels store in the last few years. They were an anchor tenant in both malls, and had been in each one since the beginning, about 1969. They built one nice new BIG store in the college town...right across the street from Wal-Mart. Hmmmmm.
It's sad, but I think we are going to see less and less of malls in the future.
Jim
I think the reasons for this are the internet has captured a large segment of the buying public, especially younger people. But I have a feeling the malls have raised their rents so high businesses won't pay. Where I live we have two towns adjoining each other. The one I live in is a blue collar union town. The other is a college town. (I'm sure you can figure out their political leanings, so I won't go there. Lets just say I'm in the minority in that regard).
The college town is much wealthier, but that's where this mall is. The strip malls are going up everywhere, which is why I think the mall rent is such an issue.Wally World still has a bunch of people in it. There's one in each of these towns, and they are thriving. I think that is because of their pricing. In the mall I was in yesterday I wasn't shopping, I was just wanderin' around. I stopped in Younkers because they had a big sign advertising jeans at 40% off. I usually buy my jeans at K-Mart, and pay about $15 for Levis. Levis in Younkers, at 40% off, were $39.99.
In this economy, that ain't gonna work.The big chains they are losing is one of the worst blows. Both malls lost a Scheels store in the last few years. They were an anchor tenant in both malls, and had been in each one since the beginning, about 1969. They built one nice new BIG store in the college town...right across the street from Wal-Mart. Hmmmmm.
It's sad, but I think we are going to see less and less of malls in the future.
Jim
luangtom
US Veteran
My wife and I just returned from dropping off some bags of goods for the local foundation as donations. We took a drive through a local mall and a new retail-trade center with three rows of store-fronts for retail or whatever trade. The mall has a 50% occupancy-rate today and the trade-center has 72 store-fronts and only 8 of them are occupied. It has been open for three years and this is all that have opened their businesses there. Sad.
Yet, the government in DC is telling us the nation is in an economic-recovery.......
Yet, the government in DC is telling us the nation is in an economic-recovery.......
model70hunter
Member
Just permanently moved out of St. Louis after 17 years. At one point the worlds largest Mall was the STL Northwest mall. This past summer they have been tearing it down. They kept the Sears/JC Penny portions for some non-mall future business office plan.
When we moved there it was a happening place. Each year it died a little, JC Penny's left and several years ago Sears did. Immediate ghost town.
When we moved there it was a happening place. Each year it died a little, JC Penny's left and several years ago Sears did. Immediate ghost town.
Failure from the start
We had a large mall built in the 70s encouraged by the people that wanted to 'revitalize' the area. I mean, it was a MALL wasn't it? It was hot for a few years and the last time I went, every other store was a shoe store. The place has been a ghost mall for the last 25 years.
We had a large mall built in the 70s encouraged by the people that wanted to 'revitalize' the area. I mean, it was a MALL wasn't it? It was hot for a few years and the last time I went, every other store was a shoe store. The place has been a ghost mall for the last 25 years.
KKECK5
Member
GHOST TOWN, that's what they look like in Mass. You've got a Macy's and a Sears at the ends, between them are about 25- 35% vacant store fronts, the rest are 'eyebrow threading' stores, dollar stores, sneaker stores, and video game stores. The stand alone stores and out-door mall sites seem to do much better.
Herknav
Member
I wouldn't notice. Other than direct access to the Craftsman tools fe outside and Chik-Fil-A (also right next to a door but moving out of the mall in a couple months), I don't go to the mall.
The Last Standing Knight
Member
Having worked as security in a shopping mall...
...I can tell you the era of the big mall is over.
Except for a handful of upscale malls (which are also going south, at least in my area). The malls are dying. I have several reasons for this IMHO:
1) Super Wally worlds, Targets, Costcos, and Sam's...as well as a limited extent the rise of dollar stores (national and local) have sounded the death-knell for malls long ago.
2) The economy. The exact same items you see at malls can be bought substancially cheaper at the aforementioned stores. Many of the malls in my area are being revamped into large, open strip centers or flea markets.
3) Safety: most malls in my area have reputations...many well deserved. One in my area has a nickname..."Gunspoint". As others have said, people dump their kids at a mall to get them out of their hair. These days, security at a mall is more visibility and for the mall owners insurance...not like it was when I worked at one.
They will never be completely gone...but there will be FAR fewer of them than even exist now. I can say IMHO I will not miss them.
...I can tell you the era of the big mall is over.
Except for a handful of upscale malls (which are also going south, at least in my area). The malls are dying. I have several reasons for this IMHO:
1) Super Wally worlds, Targets, Costcos, and Sam's...as well as a limited extent the rise of dollar stores (national and local) have sounded the death-knell for malls long ago.
2) The economy. The exact same items you see at malls can be bought substancially cheaper at the aforementioned stores. Many of the malls in my area are being revamped into large, open strip centers or flea markets.
3) Safety: most malls in my area have reputations...many well deserved. One in my area has a nickname..."Gunspoint". As others have said, people dump their kids at a mall to get them out of their hair. These days, security at a mall is more visibility and for the mall owners insurance...not like it was when I worked at one.
They will never be completely gone...but there will be FAR fewer of them than even exist now. I can say IMHO I will not miss them.
The Last Standing Knight
Member
When I worked at one, we kept the gang somewhat under the thumb. Then the place went through a succession of owners, managers, foreclosures, etc. The last owner was "highly questionable" and gave the gangsters free run of the place. It resulted in the death of one of my collegues. They refused to pay for service and we pulled out. The name of the place has changed, but it is still there...and still has the same problems.
Gunsnwater
Member
Nothing I buy is sold at a mall. All the book stores died. Too old for arcades. Spencer's lost interest along with mad magazine. Malls were around long enough to kill the down town shopping now they are over. I think the final evolution will be the 3d printer unless the transporter is invented.
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