Malls in Decline As the economy changes, so do shopping malls throughout the United States By Katy Beth Boyers
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ince the 1950s, malls have been places where people gathered to socialize, eat and shop. In the last few years, malls in the United States have seen fewer and fewer visitors. According to Statista, in the retail vacancy rates of malls in the United States during the summer and fall of 2020 was 6.2% What’s the main reason for that? Online shopping. According to a survey conducted by eMarketer, when it comes to shopping for financial services, TV and video devices and clothing, people prefer to shop for those types of things both in store and online or just online rather than in-person. Today, online shopping is becoming more popular than going to a shopping center or mall. Meredith Drennen, director of the Homewood
Chamber of Commerce, said that there has been an increase in internet sales recently, which can contribute to the decline in visitors in local malls such as Brookwood Village in Homewood, Alabama. “I think that you see a lot of internet sales taking away from local malls across the board, not just in Brookwood, but everywhere,” Drennen said. The Brookwood Village is located in Homewood near Shades Creek, and a few years ago, it was a lively, bustling area with multiple restaurants and both local and chain stores within the mall. However, that all changed around 2018. Rising rent prices, competing with other malls in the area and accessibility
