It is no secret that once popular department stores are now going away. With sites like Amazon becoming more popular, stores like Sears and JC Penney just can’t compete. So what will malls do without these stores?
It seems as if they are being replaced by apartments and hotels. Landlords and mall owners are now working together to fill both of their needs. It seems that mall owners realize the shift away from department stores so they are aiming to find a better solution to keep their malls filled with people year round.
Research shows that people are much more drawn in to shop at a store that emphasizes a personalized shopping experience. Stores like Ulta and Apple are doing well, while other stores like Carson’s and Toys ‘R Us are becoming obsolete. Malls are working to not only shift to more popular stores but to add other businesses as well.
Researchers also predict that in the next five years or so there will be a shift and other major department stores will close. They predict that more apartments and hotels will pop up where popular department stores once sat.
Malls are now not just for stores and are being filled with not only hotels and apartments but more restaurants, fitness centers, and spa services. More and more malls are becoming more of an airport feel than the traditional mall when you just had stores and a few restaurants or food courts.
What do you think of the transition from regular malls to malls that feature hotels and apartments? Would you ever live in a mall? Do you think malls are becoming obsolete because of online shopping? Share your thoughts in the comments on Facebook!
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