The number of malls in the U.S. will decline to 200 in 10–15 years

Another tricky year for malls.

Despite the recovery of the classic mall market in the U.S. in 2022, experts expect the number of shopping centers to shrink further in the long term.

Nick Egelanian, president of retail development company SiteWorks, believes what’s happening in the mall market is “a continuation of the last phase of a 40-year decline.” As a result of the irreversible process in 10 to 15 years, there will presumably be at most 150 to 200 of the highest-performing specialty shopping centers left in the country.

As of today, there are 116,000 shopping centers in the country. At the same time, the number of vast and iconic objects has decreased from 2,500 in the 1980s to 700 at present. Analysts say that Analysts assert that traditional malls are gradually disappearing, with compact shopping facilities in convenient locations taking their place.

of bankruptcies in retail and the rapid growth of e-commerce, malls survived in 2021. Mall owners continued to attract large loans that defy logic. The economic situation will lThe economic situation will largely determine the market’s success in 2023. inevitably push malls to the brink.

In the coming 10–15 years, we anticipate aIn the coming 10–15 years, we anticipate a constant decline in the malls’ operating indicators. sustainable formats.