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The WSJ video doesn't get into it, but the fall of US Malls has more to do with changing tax code [1] than with Amazon (though that's still a part). They were o
by michaelbuckbee 7y ago
The WSJ video doesn't get into it, but the fall of US Malls has more to do with changing tax code [1] than with Amazon (though that's still a part). They were on the way out before Amazon + eCommerce got big.
FWIW - I'm actually from that region of Ohio and think this is a positive step. There's a lot of other factors that go into this of course (shifting demographics, overall population drain), but on the whole, this seems positive.
1 https://www.smithsonianmag.com/arts-culture/death-and-rebirth-american-mall-180953444/ https://www.smithsonianmag.com/arts-culture/death-and-rebirt...
- xadhominemx 7y agoI've spoken to a number of retail execs and mail owners about this (the latter, like all real estate investors, are tax experts), and they definitely think it's mostly about e-commerce
- bobthepanda 7y agoMalls are failing largely because anchor tenants are dying. Sears, JCPenny, and Macy's all had horrible management over the past decade. And the department stores have faced huge competition for decades, whether it's Walmart offering cheaper goods or stores like H&M or Sephora that specialize in a specific category. My experience of department stores have been of unorganized, more expensive stores with a confusing, mediocre selection; why would I want to shop there? On top of all that, America is over-retailed compared to other developed countries: https://amp.businessinsider.com/images/5bb37815ac0a6314735194e8-960-758.jpg https://amp.businessinsider.com/images/5bb37815ac0a631473519...
- xadhominemx 7y agoYes as one RE exec likes to say, American retail is under-demolished