Mall Vacancy Rate Hits 8-Year High -- Amazon is to Blame Mall Vacancy Rate Hits 8-Year High Amid Record Number Of Store Closures
First there were separate stores and catalogs.,then malls.,now separate stores, and Amazon.Now, Amazon is doing to Walmart what Walmart did to other retailers.
NAFTA, Amazon and the baby boomers. The trifecta that destroyed America. It’s obvious to anybody living outside of the Empire’s sheltered compounds. Retail is dying. Large malls, strip malls, and small shops have closed everywhere. Retail is dead, they want everyone penned in like cattle and ordering crap from the internet.
The one store that never goes out of business is the liquor store.
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Since June 2015, retail chains have accumulated more than $45 billion in aggregate chapter 11 liabilities in connection with over 80 bankruptcy filings .
As a result, the tipping point for US commercial real estate is approaching fast, begging the question whether WeWork's upcoming bankruptcy will be the straw that finally breaks the camel's back.
The Malls have lost a lot of diversity of what they once offered back in the 1990's. Now, its primarily all clothing stores, and maybe an Apple phone shop, and a dumpy food court, and that is it. Also, many of the shops that are moving in aren't retail at all, but rather services, like for nails, tattooes, and other useless stuff.
Bookstores like Walden's Barnes and Noble and Borders , science stores, hardware and implement stores like Sears and Montgomery Wards, outdoor shops like the Nature Store, community employment centers, pet shops, electronics shops-like Radio Shack, Movie theaters, Bergner's, record stores like Sam Goody's, KB Toys, the Sharper Image, the Imaginarium for kids, even many shoe stores like Payless and Rockport all have closed. Those are all gone.
Those clothing stores that are left are having tough competition among themselves in an already over-saturated market, and with customers who simply don't have the money to buy any longer. Those malls will close eventually because of that. This is not to mention anything about the high overhead that the malls charge merchants to rent space there, and the mall's management inability to keep some diversity there to attract customers who want to buy something else other than clothing.
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