The Evolution of Malls: Learning from the Past to Provide for a Future

When radio was invented, live productions fretted for their futures. When TV was all the rage, radio fretted for its future. From movies to the Internet to mobile technologies — nothing has completely displaced a previous medium (sorry, 8-tracks and audio cassettes). The same could be argued for American shopping malls. Some might say their glory days are behind them. Others see a future with technology and evolution and yes, different looks and offerings, in the days ahead. Last month, a CBS News article entitled “A dying breed: The American shopping mall” discussed the decay and rejuvenation of malls over the years. “Pay attention to a changing America. Give your customers something they can't get sitting at their computer,” advised Robin Lewis, author of The New Rules of Retail. Meanwhile, Bradentown Herald business reporter Charles Schelle took issue with the mall-death premise, finding evidence that malls are changing, specifically from enclosed indoor malls to outdoor ones. While a new, enclosed mall is set to open later this year in his area, it’s not a trend, at least not yet.

Mix of Local Stores and National Chains Helps Old Mall “Rise from the Dead”

The Valley Fair Mall is thought to be the mall that just wouldn’t die. Since opening in 1969, it has survived time and again, and, according to the Salt Lake Tribune, nearly succumbing to neglect in the mid-2000’s. In the article, writer Tom Wharton said “the shopping center’s rebirth is nothing short of amazing,” noting that, despite the downturn in the economy, “traffic inside the shopping center is up 74 percent since 2009” and “dollars per square foot on the inside of the mall… has increased 46 percent.”

VIDEO: Myths of the Millennials’ Shopping
Habits Busted

Accenture, an organization that provides management consulting, technology and outsourcing services, posted a video that featured interviews with millennials and their shopping preferences. The video presented the myths of the influential group’s shopping habits, often perceived to be exclusively online. As the video suggests, millennials not only like to shop in-store, they know how to navigate and leverage the online world to get better deals. “I typically do more research online, and then go to the store to buy, if it’s possible,” said one.