U.S. shopping malls, once dominated by department stores, are undergoing a transformation. The decline of traditional retail and the rise of online shopping have led to a shift in focus, with malls now prioritizing dining experiences. Restaurants and bars are becoming increasingly popular attractions, drawing consumers back to these spaces. The article explores this trend, highlighting the strategies being employed by mall developers and landlords to adapt to changing consumer preferences.
Malls used to be the destination for the buzziest stores. Now they’re home to the hottest restaurants. The slow death of department stores and rise of online shopping have hurt U.S. shopping malls, particularly over the last decade. The once-essential shopping centers have seen their numbers drop from a peak of 2,500 in the 1980s to roughly 700 these days, according to Coresight Research. But now many in the retail industry say that rumors of the mall’s demise have been greatly exaggerated.
Restaurant companies like Sweetgreen and Mendocino Farms have opened new locations in malls as they seek to grow their sales and brand awareness. “The one thing that our properties can offer is scale, and scale really quickly. If they’re used to doing X in their food truck, now they’re doing X times two or three,” Brandon said. For example, Din Tai Fung, a Taiwanese restaurant chain, has honed in on malls for its U.S. expansion, according to Alison Lin, Yelp’s head of restaurants.
MALLS RESTAURANT INDUSTRY RETAIL CONSUMER TRENDS ONLINE SHOPPING
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