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Malls Are Adapting, Not Dying


The demise of the shopping mall may have been overstated. Vacancies flattened last year for the first time since the recession and brick and mortar stores are still accounting for more than 90% of sales. However, malls in economically depressed areas continue to struggle, with some estimates stating 10-15% of malls will go out of business in the next decade. Malls that are succeeding tend to be newer and focused on the community and entertainment center aspects, featuring open air spaces and a wealth of amenities. Those that focus on specific ethnic niches have also become extremely popular and viable. [DB]