According to the Wall Street Journal, mall vacancies reached their highest levels in 11 years at 9.1%. Strip malls are also expected to top 11.1% this year, their highest level since the 90's.
Of course, the biggest problem areas happen to be those that saw rapid growth during the boom and built up tons of shopping centers near homes that would never have a single tenant move into them.
But we won't argue with the facts - consumers are loving the convenience of online shopping.
A FEW BENEFITS WHEN SHOPPING ONLINE:
- No crowds
- No screaming babies
- No need to shower
- No waiting in line
- No parking
- No gas spent
- No mall music
- No dirty toilets
And the list goes on.
It's hard to say what the future holds in 5-10 years from now, but as smartphones become the norm and digital technology embeds itself into every crevice of our daily lives, it'll become easier and easier to request things when we need them and get them delivered faster than ever.
What are your predictions?
(Via Wall Street Journal)
(Image by jgarber courtesy of CC license)