Malls are Using New Restaurants to Draw Consumers as Shopping Centers Reinvent Themselves
December 23, 2024 | 1 min to read
Once bustling with department stores, U.S. malls are evolving into vibrant hubs for the hottest restaurants as online shopping takes a toll. While the number of malls has shrunk from 2,500 in the 1980s to around 700 today, many Gen Z consumers are seeking in-person shopping experiences. Creative developers are transforming vacant department stores into housing, fostering a closer connection between consumers and their favorite places to shop and dine.
Malls used to be the destination for the buzziest stores. Now they’re home to the hottest restaurants.
The slow death of department stores and rise of online shopping have hurt U.S. shopping malls, particularly over the last decade. The once-essential shopping centers have seen their numbers drop from a peak of 2,500 in the 1980s to roughly 700 these days, according to Coresight Research.
But now many in the retail industry say that rumors of the mall’s demise have been greatly exaggerated. Many Gen Z consumers prefer to shop in person and love the mall experience. Creative solutions from developers have turned empty department stores into housing, bringing consumers even closer to stores.
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