If you log on to Deadmalls.com, you will find a tribute to the fallen indoor shopping malls that rely on large department store chains to draw customers.
"Deadmalls.com is a non-for-profit endeavor designed to promote the history of the malls as well as their nature, whether thriving or declining, and the impact of time and competition on these establishments," the site explains.
The new wave of the future is the open-air shopping mall like this one designed by Rick Caruso in Glendale, CA. It features a 16-acre development that includes a public square and apartments. Caruso has also designed The Grove in Los Angeles and is planning another in Arcadia, CA.
What's Driving This Trend
- Open-air Shopping Centers
- Opportunity to create immersive shopping experiences blending retail, entertainment, and residential spaces in outdoor environments.
- Death of Malls
- Emerging trend of indoor malls struggling to adapt to changing consumer preferences, presenting opportunities for reimagining traditional retail spaces.
- Urban Redevelopment
- Growing focus on revitalizing urban areas with mixed-use developments that combine retail, residential, and communal spaces.
Who This Affects Most
- Real Estate Development
- Opportunity to invest in the development of open-air shopping centers that offer a unique blend of retail, residential, and public spaces, catering to modern consumers' preferences.
- Retail Industry
- Opportunity for retailers to shift from traditional indoor malls to open-air shopping centers, offering more engaging and experiential shopping environments.
- Entertainment Industry
- Opportunity to collaborate with open-air shopping centers to provide unique entertainment experiences and attractions that enhance the overall consumer experience.
