Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Make Me Smart with Kai and Molly

The mall is dead, long live the mall

Gigi Douban Jul 29, 2013
Share Now on:
HTML EMBED:
COPY

Big shopping mall owner Simon Property reports earnings on Monday, followed by rival General Growth Properties on Tuesday. General Growth has emerged from bankruptcy, but malls are still digging out from the recession.

You know the boy band One Direction? Well, Mall of America in Minnesota recently opened a pop-up store selling the band’s merchandise. Shoppers lined up at four in the morning. It’s just one example of how malls have had to get creative to boost sales.

“Across all the malls we’re seeing declines, but more dramatic in the enclosed malls,” says Wendy Liebmann, CEO of WSL/Strategic Retail. She says consumers are shopping, but less often at the mall.

“About a third of people tell us they purchased something at the mall in the last three months,” she says. That’s down from almost 40 percent in her company’s survey last year. 

And mall owners have had a hard time filling vacancies from the recession.

“Retailers certainly are much more careful in their site selection,” says Jim Spahn, spokesman for Colonial Properties, which owns shopping centers in Alabama and Louisiana.

Still, Colonial’s Birmingham mall has landed Target, Fresh Market and DSW shoes.

 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.