Traditional malls are dying especially if they are located in small towns. Foot traffic has decreased exponentially in shopping centers, anchor stores have gone bankrupt, Black Friday is now being replaced by Cyber Morning.
The world of retail has changed, ladies and gentleman. In the glorious days of “the malls,” managers focused on bringing fashion to the malls in order to attract a large number of housewives with spending dollars eager to acquire the latest and most luxurious piece of clothing (or shoe, bag…) they could afford.
Women today work as much as man and aren’t going to the mall to buy the latest fashion either. Some still do but places like amazon.com has made the “shopping scene” less attractive for many, I’ve observed.
So, if this is true… what is the future of the malls? It’s in entertainment offerings I think. The malls of the future will be repurposed to incorporate adult and kids activities with a variety of food court options. Places like “Play Live Nation” will be a hit all over the country.
They are a competitive video game store where kids can play video games and eat snacks for hours on end in the mall. What a great idea, I must add.
We are going to see much more of that.
Traditional malls are maybe dying but they will not die completely. They will evolve like anything else. We may shop for clothes on Cyber Monday but Black Friday will be filled with kids engaging in activities in the mall, especially if the event falls on the weekend.
Having fashion malls is a thing if the past. The malls of the present will be places where people will be engaging in activities, like eating, playing video games, or riding a red dragon scooter in the mall with your kids. The world has changed. We better get used to it.
Play Live Nation is in its way to greatness.