It actually has become clockwork at every major retail event, be it Back to School, Christmas/Hanukkah, even July 4th. We see the inevitable “Mall is Dead” story in some newspaper or television report. Twenty years ago, catalogs and big box power centers were the killers; today, it’s e-commerce, market saturation and debt-laden millennials who will kill the mall. Only the most famous, highest-end centers in the major markets will survive, according to the doomsayers, with the remainder to be turned into any other use you can think of, from warehouses to office buildings to hotels to, yes, prisons. Except the statistics — and our experience at 30 mid-market malls and lifestyle centers at Starwood Retail Partners — don’t support that argument at all. Industry research shows that mall visitation has bounced back well after the Great Recession, that customers are shopping, eating and enjoying the growing number of experiences our centers can offer, and that our industry is finding new life at all economic tiers. This article will dispel some myths with solid fact. We’re not all just sitting at home ordering from Amazon. Myth: No one shops at malls any more. Fact: If that were so, it would only …
