Future of Shopping Malls

The report card is in, and it’s a C- for the mall. BNET article covers the study the University of Pennsylvania’s Wharton School and the market-research firm Verde Group, which yields less then pleasing results for mall based retailers.

Customers both young (18-30yr old) and mature (30-50yr old) are looking for something different than the enormous malls today. Each age groups are looking for something different and refreshing. The repost states younger crowd wants the environment tailored more to their needs and shopping habits. Mature shoppers are turned off by the cafeteria style food courts, which harvest a hang out for teenagers.

More and more malls are separating from the traditional beige building with inside halls. Even in the coldest of climates, outside malls built like a tiny village with specialty stores are thriving over the traditional venues.

Retailers inside and outside the mall want their consumers to linger and enjoy their experience. Malls may be the biggest turn off environment today. What do you think? Are malls dead? Will retailers located on shopping avenues thrive better?