Malls see tsunami of store closures as foot traffic declines further

By Image 4, posted on May 24, 2019

Retail forecasters predict the number of store closings in 2019 will outpace that of 2018, leaving some to wonder if the uptick in foot traffic at malls across America last year was more of a ripple than a rebound. While some malls have invested in experiential brands to attract visitors, this hasn’t seemed to stem the tide of closures. Creative solutions, such as bringing previously online-only retailers to brick and mortar stores, offering newer brands pop-up space, and renegotiating lease terms are just some of the ways mall owners are trying to overcome the challenge.

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Retail forecasters predict the number of store closings in 2019 will outpace that of 2018, leaving some to wonder if the uptick in foot traffic at malls across America last year was more of a ripple than a rebound. While some malls have invested in experiential brands to attract visitors, this hasn’t seemed to stem the tide of closures. Creative solutions, such as bringing previously online-only retailers to brick and mortar stores, offering newer brands pop-up space, and renegotiating lease terms are just some of the ways mall owners are trying to overcome the challenge.

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