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A dead mall, [1] also known as a ghost mall or zombie mall, is a shopping mall that has low consumer traffic or is deteriorating in some manner. [2] Many malls in North America are considered "dead" when they have no surviving anchor store or successor that could attract people to the mall. Without the pedestrian traffic that department stores ...
Another factor is an over-supply of malls [24] as the growth rate of malls in North America between 1970 and 2015 was over twice the growth rate of the population. In 2004, Malcolm Gladwell wrote that investment in malls was artificially accelerated when the United States Congress introduced accelerated depreciation into the tax code in 1954. [25]
GNC closed over 900 stores in 2019, including between 300 and 400 of the chain's 800 shopping mall locations, which have been particularly hard-hit by declining foot traffic at malls overall. [141] Godiva Chocolatier closed all of its North American retail locations in 2021 after the chocolate company faced a decrease in sales and foot traffic ...
The gadgets and unique gifts store said it would be closing all of its remaining mall locations. It is looking for a buyer to take on its more successful e-commerce business and airport stores.
Traditional malls need to transform themselves to stay alive, and many are making changes to attract more business. ... So older properties have to get re-positioned every decade, or they will die ...
95% of Kohl's 1,158 stores are located off-mall and in other areas away from enclosed shopping centers. Read more: Kohl's CEO explains how the retailer has avoided the department store meltdown
Record Bar – malls; acquired by Blockbuster in 1993 and converted [150] Record Town – store name changed to FYE by parent company Trans World Entertainment; Record World – company also operated The Record Shops at TSS; was purchased by W.H. Smith after declaring bankruptcy in 1992; rebranded The Wall the following year [151] [152] [153]
Amazon, which has done as much as any company to bring about the demise of shopping malls in the United States, has now come full circle by buying up struggling malls and turning them into...