Saturday, February 28, 2015

The Decline Of The Shopping Mall: A Capitalist Story

The Daily Caller reports:
The retail landscape has also changed since the malls’ heyday. Big box retail chains, like Best Buy, Dick’s Sporting Goods, and Staples put pressure on smaller specialty retailers. Non-mall retailers like Wal-Mart, Target and Kohl’s cut into the sales of classic mall stalwarts like Macy’s and Penney’s. Sears is a dead man walking. Large bookstores like Barnes & Noble and Borders wiped out mall staples like Waldenbooks, before being crushed by internet retail.

And, speaking of the internet, Amazon and other internet vendors have grabbed an increasing share of the retail pie. Mall retailers have responded by moving their own sales online and closing physical stores. Shopping by click has knocked brick and mortar stores for a loop.
There's more:
Meanwhile, there is no evidence of some impending emptying of the suburbs and stampede to the city. From 2010 to 2013, cities grew by 2 million while the suburbs grew by 4.4 million.
Just a reminder.