U.S. shopping malls are reinventing themselves as dining hubs, capitalizing on the decline of department stores and the rise of online shopping. Restaurants and bars are becoming the main draw, attracting consumers who prioritize in-person experiences.
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.
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