Consumers are scared to go out and retailers are floundering. Is there a future for the traditional indoor shopping mall?
For generations, malls were a type of town square, a one-stop shop for restless teenagers and busy parents wanting to pick up gifts, fill out wardrobes, or just get out of the house.
But in recent years their future has been in doubt as online shopping gained steam and one-time anchor retailers like Sears and Macy’s struggled financially and shuttered stores. The COVID-19 pandemic added to the downturn.
Now, as coronavirus vaccines roll out across the U.S., top-tier