This year is bringing us so many changes. People are facing different problems worldwide. Many things aren’t as they were.
The economy is changing a lot too. Small businesses are facing many issues.
Let’s talk about American malls here. It has always been supported by the baby boomer generation. It was also a supporter of the Industrial Revolution in the 19th and early 20th centuries in America.
People claim there are many reasons for this decision, but this is what I found out:
- Everything there is still more expensive than what people can find and buy online (and this also refers to the things that were on sale).
- Someone has a bigger plan behind this all. Someone will probably get the profit if they close.
- Maybe the rent was too high? It’s no secret that shops had to raise rates to pay for rent and electric costs in the mall shops.
- You can shop online in the comfort of your home. That is why. Since the pandemic has started, people have definitely turned to online shopping like never before. Also, since Walmart and major warehouses do this, they get lower prices. Supply and demand of services… Building rent is not a good service now? It seems like that.
It’s pretty sad that we’re coming to an end to this physical era, I have to tell you that. It’s all digital now! It seems like how everything has lost its true soul.
A survey shows about a quarter of U.S. malls could close over the next four to six years, accelerating a trend that began before the pandemic. The revenue has dropped by 25%. On a year-over-year basis, it came to $1.2 billion.
Call me old-fashioned but I still prefer going into the store and malls to buy things. People still like to go to MALLS, so what’s the problem? Do we just prefer outdoor malls these days? The enclosed malls had their days? Shopping malls in the U.S. were already in decline before the Covid-19 pandemic as consumers shifted away from traditional brick-and-mortar stores to e-commerce.
The outbreak has only exacerbated the challenges at malls as social distancing has placed restrictions on stores, movie theaters, and restaurants. Obviously, malls are behind us. They are history now. And imagine what will happen when the pandemic ends… They probably won’t be able to go back to normal because this is ”new normal” now, and it will probably be forever.
Amazon had revenue growth exceeding $100 Billion, which is just unbelievable! Seriously, who can compete with that?
Malls serve and employ lots of people locally. People will start losing their jobs on a daily basis.
I truly don’t like this ”advanced technological” society. What about you?
Do you love shopping malls or do you prefer buying online?
Can you imagine what our society will look like after this pandemic ends?