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From Bloomberg View
Goodbye, Malls of America
"Online shopping is a force few standard retailers have managed to overcome. Since 1999, when Web sales were insignificant, e-commerce has soared. Sales in 2014's first quarter topped $71 billion, an annual rate of almost $300 billion a year, equal to more than 6 percent of total U.S. retail spending."
JUL 2, 2014 12:36 PM EDT
By James Greiff
Last week, Slate published photos of empty, decaying shopping malls from a new book, "Autopsy of America.'' The images are arresting, and the timing couldn't be better. Abandoned malls are hot: The Dead Malls Enthusiasts Facebook group boasts almost 14,000 members; a Google search of "dead malls" produces 5.7 million results; and the desolate interiors of these unused retailing meccas keep making cameos in thrillers and horror films.
The images point to some fundamental changes in suburban America and the retailing experience, though urbanists who hope that failing malls will aid downtown revitalization may be disappointed. The reality, as one might expect, is more complex.
Here are a few things to consider:
A Dying Breed: What some writers used to call the malling of America is done. Try to find anyone breaking ground for a new regional shopping mall, those hulking structures with 100-plus stores surrounded by vast asphalt parking lots. Since 1990, when 16 million-square-feet of mall space opened, building has tailed off, and 2007 was the first year in more than four decades when no large malls opened in the U.S. Only one has opened since then, in 2012.
From Bloomberg View
Goodbye, Malls of America
"Online shopping is a force few standard retailers have managed to overcome. Since 1999, when Web sales were insignificant, e-commerce has soared. Sales in 2014's first quarter topped $71 billion, an annual rate of almost $300 billion a year, equal to more than 6 percent of total U.S. retail spending."
JUL 2, 2014 12:36 PM EDT
By James Greiff
Last week, Slate published photos of empty, decaying shopping malls from a new book, "Autopsy of America.'' The images are arresting, and the timing couldn't be better. Abandoned malls are hot: The Dead Malls Enthusiasts Facebook group boasts almost 14,000 members; a Google search of "dead malls" produces 5.7 million results; and the desolate interiors of these unused retailing meccas keep making cameos in thrillers and horror films.
The images point to some fundamental changes in suburban America and the retailing experience, though urbanists who hope that failing malls will aid downtown revitalization may be disappointed. The reality, as one might expect, is more complex.
Here are a few things to consider:
A Dying Breed: What some writers used to call the malling of America is done. Try to find anyone breaking ground for a new regional shopping mall, those hulking structures with 100-plus stores surrounded by vast asphalt parking lots. Since 1990, when 16 million-square-feet of mall space opened, building has tailed off, and 2007 was the first year in more than four decades when no large malls opened in the U.S. Only one has opened since then, in 2012.
Bad News for City Centers: Advocates of what is sometimes called "new urbanism" suggest that the demise of malls will plant the seeds of an urban renaissance. For example, Ellen Dunham-Jones, a professor of urban design at Georgia Tech, in an article titled "Economic Sustainability in the Post-Industrial Landscape,'' writes:
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