Malls Remodel to Boost Sales and Attract Shoppers/Store Visitor Counts Are Disappointing, Business and Industry Trends Analysis

The face of retailing continues to evolve quickly.  Malls and their stores face daunting competition from web sites, giant discount stores like Target and wholesale clubs such as Sam’s.  At the same time, many consumers have lost enthusiasm for frivolous shopping and needless credit card debt.  Analysts at ShopperTrak report that retail store traffic in general is down.  Coresight Research reported 8,741 closures in 2020, compared to 9,548 stores closing in 2019, and 5,864 closures for all of 2018.  The firm forecasted 10,000 stores closing in 2021, largely due to the Coronavirus pandemic.  Malls are forced to adjust in order…

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