| Wednesday, August 31, 2016 | | | |
The American Mall Is Dying  America's most well-known retailers are closing stores, which has led to concern about the future of malls.
Macy's recently announced the closure of 100 stores. Sears, Gap, and Abercrombie & Fitch have all made similar announcements.
But perhaps more shocking is the decline in foot traffic to malls. In 2010, there were 35 million visits to shopping malls, according to Cushman and Wakefield. In 2013, that number had been cut in half to 17 million.
But it's about to get worse.
Green Street Advisors predicts that approximately 15% of malls will vanish in the next 10 years.
Factors such as increased spending on technology and vacations (which leaves little money for apparel) and the rise of online shopping have led us to this point.
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