Happy Cyber Monday! I'm going to celebrate today counter-intuitively by looking at brick-and-mortar retail. Watch the future of the American mall from CBS This Morning.
Almost 1,700 stores inside malls closed in 2018, according to Bank of America, and so far this year, closings have reached more than 4,000. But one company believes it has found a way to reverse the trend. The enormous American Dream mall in East Rutherford, New Jersey, will have a lot more than just stores behind its walls when it fully opens next year. Nikki Battiste reports.This report displays some skepticism, which is appropriate given what I wrote in Wired on dead malls, a tale of the Retail Apocalypse, Business Insider on dead malls in the Retail Apocalypse with assistance from Dan Bell and Radiohead, and Vox on America's dying malls as failed third spaces, which was the entry that got me started on covering the Retail Apocalypse as an overarching phenomenon instead of the just the failure of my local mall. Still, I wish the investors luck and success. I hope they manage to buck the trend.
Stay tuned for Giving Tuesday.